Virtana has raised $73 million to accelerate its growth with funding 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 strengthen Virtana’s position in the more than $30 billion IT operations management software market.
Virtana’s suite of workload capacity optimization, cost management, and performance assurance tools help Global 2000 customers and partners plan, execute, and manage their hybrid cloud implementations. Businesses are adopting hybrid cloud strategies and tools more than ever to enable digital transformation efforts, a trend that has been accelerated by the COVID-19 pandemic.
Through its platform, Virtana offers workload migration, cost optimization, and observability solutions for hybrid cloud infrastructure that help organizations reduce costs associated with cloud waste and get the most out of leveraging cloud-based digital transformation strategies.
“Atalaya believes Virtana offers a critical product suite to deliver differentiated solutions to its customers and channel partners. We are thrilled to partner with Virtana and support the team’s efforts to grow their platform,” said Josh Ufberg, Partner at Atalaya Capital Management LP.
“The Virtana team has built a SaaS-based hybrid cloud management platform to monitor, optimize, and migrate critical infrastructure and applications for some of the largest and most complex state-of-the-art IT environments. digital transformation,” said Mark Schachter, managing partner. of Elm Park Capital Management. “Kash Shaikh and the management team have a proven track record of building value and trust with customers, and we look forward to partnering with the team and helping drive adoption.”
With additional capital and resources, Virtana will be able to accelerate its innovation and better meet customer needs through increased investments in product development, sales and marketing.
“We are excited about this round of funding, which is an important step in ensuring the company’s long-term success as we continue to execute our strategy and position Virtana for a new phase of sustainable, profitable growth and success. “said Kash Shaikh, President and CEO of Virtana.
Kash continued, “Since becoming CEO last year, we have been focused on transforming Virtana to drive profitable growth and accelerate hybrid cloud innovation to support our customers. We appreciate the support of our customers and financial partners as well as our talented team for their continuous innovation and hard work. It’s no coincidence that in the past year alone, the company has won 19 awards for technological innovation and leadership.