Revaia, Digital+Â 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.
Platform.sh, a unified, secure, enterprise-grade platform for building, running and scaling web applications, 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.
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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.”
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“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,”
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