Virtana Raises $73 Million in Financing to Accelerate Growth in the AIOps Hybrid Cloud Management Market
Latest Financing will Fuel Company's Next Phase of Growth to Deliver Hybrid Cloud Solutions for Optimization, Migration, and End-to-end Observability
SAN JOSE, Calif., January 13, 2022-- Virtana, a leading provider of AI-driven monitoring solutions for hybrid cloud management, 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."
Virtana received the following awards in 2021:
1. Best Company Culture | Comparably
2. Best Company for Women | Comparably
3. Coolest Cloud Company of 2021 | CRN
4. Customer First Company | Gartner
5. Top 10 Player Reducing Cloud Costs | Business Insider
6. Cloud Innovation Award | Channel Partner Insight
7. Cloud Platform Innovation of the Year | SDC Awards
8. Cloud Transformation Project of the Year | SDC Awards
9. Channel Chief | CRN
10. Top 10 Digital Transformation Solution Providers
11. Digital Innovator Award
12. Best of San Jose - Software/SaaS Company
13. Authentic Leadership Award - CEO Kash Shaikh
14. Top 10 Best Cloud Management Software
15. Top 10 Most Influential CEOs Rising To The Top - CEO Kash Shaikh
16. CTO of the Year
17. World Technology Leader
18. Top 10 Companies Revolutionizing Healthcare
19. 50 Leading Companies in 2021
Learn more about the hybrid cloud optimization solutions Virtana is bringing to Global 2000 companies at virtana.com.
About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered, alternative investment advisory firm. Atalaya primarily focuses on making private credit and special opportunities investments in three principal asset classes – specialty finance, real estate, and corporate. Founded in 2006 and headquartered in New York City, Atalaya has approximately $7 billion in assets under management and has invested more than $11 billion since its inception. For more information visit www.atalayacap.com.
About Elm Park Capital Management
Elm Park Capital Management is a Dallas-based investment firm with a core focus in providing capital solutions for middle market companies and private equity firms requiring an experienced partner for acquisitions, growth, recapitalizations or other unique capital needs. Elm Park primarily focuses on software, technology and healthcare oriented businesses and has been an active investor across these core verticals since 2010.
Virtana delivers a unified observability and optimization platform for managing application workloads across public, private, hybrid, and multi-cloud environments. Using artificial intelligence for IT operations (AIOps) technologies, including machine learning and advanced data analytics, the cloud-agnostic Virtana Platform solves the most difficult challenges facing enterprises as they seek to leverage public clouds. The SaaS platform enables a "know before you go" approach by providing intelligent observability into which workloads to migrate. It also ensures that unexpected costs and performance degradation are avoided once workloads are operating in the cloud. With the Virtana Platform, enterprises can confidently speed cloud adoption and reduce cloud operating costs by simplifying management of their IT environments.
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