Virtana raises $73 million to deliver hybrid cloud solutions for migration and end-to-end observability
Virtana has raised $73 million to accelerate growth through financing from Atalaya Capital Management, Elm Park Capital Management, HighBar Partners, and Benhamou Global Ventures.
The investment will support the company’s continued innovation in the AIOps market and further bolster Virtana’s position within the $30+ billion IT operations management software market.
Virtana’s range of workload capacity optimization, cost management, and performance assurance tools help Global 2000 customers and partners plan, execute, and manage their hybrid cloud implementations. Companies are adopting hybrid cloud strategies and tools more than ever to enable digital transformation efforts, a trend which has been accelerated by the COVID-19 pandemic.
Through its platform, Virtana delivers workload migration, cost optimization, and observability solutions for hybrid cloud infrastructure, which helps companies reduce costs associated with cloud waste and realize the full benefits of cloud-based digital transformation strategies.
“Atalaya believes that Virtana offers a suite of mission-critical products to provide differentiated solutions for its customers and channel partners. We are excited to partner with Virtana and support the team’s efforts in growing its platform,” said Josh Ufberg, Partner at Atalaya Capital Management LP.
“Virtana’s team has built a leading SaaS-based hybrid cloud management platform to monitor, optimize and migrate mission-critical infrastructure and applications for some of the largest, most complex IT environments at the forefront of digital transformation,” said Mark Schachter, Managing Partner of Elm Park Capital Management. “Kash Shaikh and the executive leadership team have a track record of building value and trust with customers, and we look forward to partnering with the team and helping drive further adoption.”
With additional capital and resources, Virtana will be able to accelerate its innovation and better meet the needs of customers through increased investment in product development, sales, and marketing.
“We are excited about this round of financing, which is an important step forward in securing the long-term success of the company as we continue to execute our strategy and position Virtana for a new phase of sustained, profitable growth and success,” said Kash Shaikh, President & CEO of Virtana.
Kash continued, “Since I became CEO last year, we have been focused on transforming Virtana to deliver profitable growth and accelerate hybrid cloud innovation to support our customers. We appreciate the support of both customers and financial partners as well as our talented team for their continued innovation and hard work. It is not a coincidence that in the last year alone the company won 19 technology innovation and leadership awards.”