Platform.sh Secures $140 million in Series D Funding to Support Enterprises in Scaling Fleets of Websites and Applications
Revaia, Digital+ Partners and Morgan Stanley Expansion Capital lead the round.
Investment will allow the leading enterprise grade PaaS for websites and web apps to cement its market position across its key regions (North America, Europe and Asia) through team expansion as well as accelerated product development both organically and inorganically.
PARIS and SAN FRANCISCO, June 21, 2022 - Platform.sh, a unified, secure, enterprise-grade platform for building, running and scaling web applications, today announced it has raised $140 million in Series D funding. The round was led by Munich-based Digital+Partners, San Francisco-based Morgan Stanley Expansion Capital, and Paris-based Revaia, alongside existing investors BGV, Eurazeo, Hiinov, and Partech, all re-investing.
The funds will allow Platform.sh to build on its leading position in Europe, the US and Asia, recruiting new employees worldwide to meet its expansion goals. Building on the successful acquisition of Blackfire in May 2021 that helped the company to strengthen its offering in application performance management, Platform.sh intends to use part of the proceeds to fund future acquisitions to accelerate its organic product roll out.
Platform.sh has found global success by removing the pain associated with building websites or web applications. Digital teams face a large array of choices when building, deploying and managing web applications, from selecting which system to use in the backend to deciding what framework and language to code in. To solve this complexity, Platform.sh offers companies an end-to-end platform that helps build, host, and scale a fleet of web sites and web applications while removing the need for IT and cloud operations.
Using Platform.sh, websites and web applications can be built by distributed development teams, including external agencies, in different languages and using different frameworks, enabling smooth collaboration. Powerful automation significantly improves productivity and generates massive cost savings on cloud expenditure. Businesses of all sizes can also reduce their carbon emissions thanks to the unmatched server density provided by Platform.sh, with the company's commitment to sustainable hosting leading it to engage in the B Corp certification process. As a result, Platform.sh's responsible cloud platform and fleet management strategy has been adopted by large organizations worldwide such as Adobe, Nestlé, but also for smaller digital teams like Gault et Millau, Unicef, University of Missouri and many more.
Founded in 2015 and member of the FrenchTech 120 for a third year in a row, Platform.sh currently employs 340 people across 36 countries and generates north of $40m in annual recurring revenue. Its commitment to a 100% remote workforce has made it one of the hottest tech companies to work for. This funding round demonstrates the success of both Platform.sh and the growing French tech ecosystem.
"When we launched Platform.sh, we wanted to build a very powerful cloud platform that simplifies the cloud experience for web developers, making sure they spend time on developing and zero time on cloud infrastructure," said Fred Plais, CEO and Co-Founder of Platform.sh. "Our approach has quickly inspired global corporations to manage thousands of websites and applications efficiently and securely to help them make informed, greener decisions when hosting web apps. This latest round of funding will support us as we invest in third-party technology acquisition and continue to innovate."
"We are honoured to partner with Platform.sh and support their mission to help companies implement automated cloud infrastructure, while reducing the environmental impact of their digital operations," said Morgan Kessous, Partner at Revaia. "The company screens as a leader in the DevOps and PaaS markets, and unlocks tremendous value for its customers as it provides developers a platform to deploy both safer and faster. We also share with Platform.sh's team the conviction that Green Hosting is the next frontier in cloud infrastructure, and we are very enthusiastic to back a company with the highest levels of ambition and ethics."
"We have been following Platform.sh's journey for several years and are delighted to support Fred and his excellent team to become the global category leader for managing fleets of websites," said Julian Mattes, Partner at Digital+ Partners. "The war for developer talent and the increasing complexity of DevOps tooling drives the strong demand in the website infrastructure market. We feel a strong connection to the team, the vision, and the values of Platform.sh to enable organizations to focus 100% of their time on building amazing experiences."
"The website is core to the brand and customer experience, and as such, uptime, cross-functional collaboration, and rapid iteration is table stakes," said Pete Chung, Partner at Morgan Stanley Expansion Capital. "Fred and the team at Platform.sh have built the market-leading platform to tackle these issues head-on and we look forward to partnering with the Company in its next phase of growth,"
Platform.sh was advised by KeyBanc Capital Markets, Gide and White & Case. New investors were advised by White & Case.
Platform.sh is a unified, secure, enterprise-grade platform for building, running and scaling web applications. Founded in 2015, the company is headquartered in Paris and San Francisco. Platform.sh employs 340 people across 36 countries and is available in Europe, the United States and Asia, through global partnerships with AWS, GCP, Azure and OVHcloud.
A member of the FrenchTech 120 and Gaia-X, Platform.sh was recently included in the FT1000 list of fastest growing European companies. Offering a 100% remote working environment the company is a certified "Great Place to Work" and counts among its customers prestigious brands such as Adobe Magento, Gap, Nestle, Orange, The British Council, The Financial Times and Unicef. https://platform.sh/
Based in the core of Europe, with our roots in two of the continent's financial and technology powerhouses – Paris and Berlin – Revaia is pan-European at heart. We invest in European growth-stage companies with global ambitions and sustainable leadership. We are a young, complementary, and diverse team with entrepreneurial and private equity backgrounds. We build bridges between growth and public markets. We are sparring partners for entrepreneurs who are working to transform our world for the better. Our team has already invested in companies that are doing just that, like Aircall, Algolia, Deepki, Epsor, Frontify, GetAccept, etc.
For more information please visit: https://revaia.com/
About Digital + Partners
Based in Frankfurt, Munich and London, Digital+ Partners is a leading technology growth equity investor focused on DACH and European technology companies with over $800 million assets under management. Digital+ Partners aims to support ambitious entrepreneurs build global technology leaders, providing them with strategic advice and long-term financial support to help them define and execute their growth plans. Digital+ Partners focuses exclusively on B2B technology companies and leverages a deep corporate network to help portfolio companies access new markets and build new partnerships. For more information please visit: www.dplus.partners
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.
For further information about Morgan Stanley Expansion Capital, please visit www.morganstanley.com/im/expansioncapital.