Venture Capital

Aviatrix Valued at $2 Billion With $200 Million Series E

SANTA CLARA — Aviatrix, a provider of cloud networking and network security,  has raised $200 million in growth funding led by TCV. Additional new investors include Insight Partners and Tiger Global, while existing investors CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition, Liberty Global Ventures, Meritech Capital and TrueBridge Capital Partners also participated in the round. This Series E funding raises Aviatrix’s valuation to $2 billion, which has more than doubled in six months since the previous round.

“Enterprise adoption of a multi-cloud strategy has gone mainstream, which combined with an outstanding team drove our decision to invest in the cloud networking leader of this massive market transformation,” said Tim McAdam, general partner at TCV. “Aviatrix’s ability to quickly deliver enterprise customer value and establish itself as mission-critical in these large organizations is both impressive and indicative of long-term growth.”

As part of the funding round, McAdam will also join the Aviatrix Board of Directors.

This growth-stage investment will enable the company to scale its worldwide sales and support operations at a time when enterprises en masse are investing in enterprise-class cloud networking and network security.

“The transformation to cloud is being driven by CEOs to deliver business agility,” said Steve Mullaney, CEO of Aviatrix. “The cloud network infrastructure can’t rely on the horrible, complex operational model of the 1990s data center to deliver on that agility.  Enterprises need the visibility and security controls they had on-prem, but with the operational simplicity and automation of cloud. Only Aviatrix can deliver this value.”