Seven years after its creation, the tricolor scale-up has grown considerably. Platform.sh announces this Tuesday the largest fundraising in its history, for an amount of 140 million dollars in series D, from Digital + Partners, Morgan Stanley Expansion Capital and Revaia. This funding round comes four years after a previous fundraising of $34 million.
The company, already very internationalized, currently has nearly 5,500 customers worldwide. In 2022, it hopes to consolidate its positioning in Europe, the United States and Asia, and reaffirm its acquisition strategy.
Overall, the company has a recurring annual revenue of over $40 million. The North American market remains the most important for Platform.sh, as it accounts for almost half of its turnover. Europe is in second place, for about 35% of global turnover, with France, the United Kingdom and Germany in the top three.
Focus on large accounts
“We are in sustainable growth and maturity,” says Frédéric Plais, its CEO and co-founder, to ZDNet. “The cloud didn’t simplify anything, but our PaaS segment is now well understood. »
When it comes to choosing a technology or programming language, digital teams are indeed faced with a multitude of options. Concretely, Platform.sh allows its customers to manage their sites and their applications on the cloud. The tricolor scale-up is thus placed at the service of development teams working on high traffic sites, allowing them to focus their efforts on developing and improving their fleets of applications and websites, without care about cloud infrastructure issues.
The purpose is therefore “to have performance and speed by helping digital teams to manufacture and deploy applications easily”, summarizes Frédéric Plais.
Renewed partnership with Adobe
The Platform.sh solution is intended to be “particularly suited to organizations managing hundreds or even thousands of sites and applications,” notes a press release.
The platform now supports many major accounts, such as Adobe and Nestlé, but this has not always been the case, recalls Frédéric Plais. In its early days, Platform.sh attracted much more modest players. Then, along the way, one application leads to another, “the actors who have started to deploy an application with us are developing more and more, gradually”, says Frédéric Plais.
In all the sectors where the platform is present, e-commerce is still very present. The company has also recently re-signed for five years with Magento (Adobe) and has approached the German Shopware. Platform.sh also works for other players, such as agencies and some media companies, including the FinancialTimes and the Swiss newspaper Time.
Cloud and ecology
Platform.sh has always claimed distributed teams in the markets where the platform operates. The group currently has nearly 350 employees in more than 33 countries and 250 cities around the world, and plans to recruit 100 more by the end of the year.
The scale-up parallels its external growth. Platform.sh distinguished itself last year by acquiring Blackfire, a solution dedicated to performance management. “This allowed us to acquire expertise on the observability part, where we were embryonic until then”, comments Frédéric Plais. Blackfire is now available by default to Platform.sh customers.
Platform.sh also wants to be proactive on environmental issues related to the cloud. The company intends to carry out a series of actions to improve its scope 3, on the carbon footprint of the cloud. On this point, the company encourages its customers to look at the footprint of the data centers they choose. The company is also working on the issue of performance, to ensure that the applications developed are displayed faster on web pages. “In 2022, we cannot afford to increase the number of servers. To do this, we instruct our customers to improve the code instead,” notes Frédéric Plais.