Aviatrix IPO plan and pursuit of a market capitalization of $ 50 billion

News on the cloud

Marco Haranas

With sales and customers doubling every year, Aviatrix, a cloud networking guru, unveils its plan to become the “next generation of Cisco” for the multi-cloud era.

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Steve Mullaney has huge plans in store for his fast-growing cloud security and networking company, including hitting public markets within the next 18 months and reaching over $ 3 billion in annual revenue over five years.

“We will be bigger than Cisco,” said Aviatrix Mullaney president and CEO, a longtime industry leader who stepped out of retirement a few years ago. “Because the cloud will be 10 times bigger than the market that Cisco had to generate. The opportunity is 10 times greater. That’s why people like me drop out of retirement because this is the biggest wave I’ve ever seen. … We will become the architectural standard for networking in the cloud. ”

Aviatrix is ​​doubling its revenue every year, winning dozens of new Fortune 500 customers every year, hiring hundreds of net new employees, and recently raised $ 200 million in a single funding round.

“In five years, we will make more than $ 3 billion in revenue, we will probably have a market capitalization of $ 50 billion,” Mullaney said. “We will be a knight of the new infrastructure.”

Aviatrix All-In on Multi-Cloud

Aviatrix founder and chief technology officer Sherry Wei created her Santa Clara, California-based company in 2014 after a long career at Cisco with the belief that cloud networking is very different from data center networking to companies.

[Related: Former VMware Star Sanjay Poonen Becomes CEO Of Cohesity]

Aviatrix secure cloud networking is delivered via software and directly programs native cloud constructs to maintain simplicity and automation unique to each cloud provider, including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Oracle Cloud, and Alibaba Cloud.

Aviatrix then adds advanced network, security, automation and operational visibility for the second day for companies using one or more public clouds.

“Cloud service providers offer very primitive networking capabilities. Each cloud is different. Businesses need someone to provide them with advanced services that overlap the primitive things provided by cloud vendors, “Mullaney said.” And most importantly, provide them with an architecture that they can multi-cloud with, because they won’t have five different architectures “.

The “next generation of Cisco”

Aviatrix simplifies multi-cloud networking for companies that are currently forced to use “primitive networking services” and “low-level native constructs” from cloud providers, Mullaney said.

“There are two things that every company needs more than anything else: visibility and control. Visibility first of all. So they have to check security, check performance, check costs – if you don’t give them that visibility and control, they fly blind, “he said.” Think of us as the next generation of Cisco. We are not Cisco better, we are a different Cisco. ”

Aviatrix customers can have a cloud-native operating model, as well as the visibility and control they need from a network and network security perspective.

Mullaney said typical businesses have many different business units each using different clouds, such as AWS, Azure, and Google Cloud.

“You can’t have five different architectures for networking and security. You need one that abstract all the underlying details. Because you’ll never have enough people who will understand AWS, Azure, Google, Oracle, Alibaba cloud, etc. “Mulney said.

“We abstract it so that we don’t need to know the low-level details,” he said. “So it looks like a network for our customers. They say, ‘Oh, that’s great. I can handle it. ‘ It’s all infrastructure like code, it’s all very software-defined and very similar to the cloud where you don’t manage things manually. ”

Steve Mullaney is a driving force

Mullaney was the CEO of Nicira, a pioneer of software-defined networking, which was acquired by VMware in 2012 for $ 1.3 billion. Nicira’s technology has become VMware NSX’s flagship networking solution.

Throughout his IT career, he has also held positions including interim CEO of Palo Alto Networks; vice president of marketing for Blue Coat Systems and Force10 Networks; and general manager of VMware’s networking and security business unit.

He retired in 2014, but returned in 2019 to become president and CEO of Aviatrix as the demand for cloud computing began to explode, creating a complex IT environment for businesses.

“Humans cannot understand the enormity and scope of cloud computing. You know it’s big, but it’s much bigger than anyone else, “she said.

With Mullaney at the helm since 2019, Aviatrix has grown from a few million in annual recurring revenue and approximately 100 SMB customers to a $ 100 million company with over 600 customers, including 68 of the Fortune 500 companies. The company is poised to double sales in 2023, he said.

Round of funding of $ 200 million

In September, Aviatrix raised $ 200 million in a funding round led by private equity firm TCV.

The funding round, which Aviatrix will use to hire even more employees and for marketing purposes, raised Aviatrix’s valuation to $ 2 billion.

Additionally, the company recently hired industry veteran Michael Welts as its new chief marketing officer. Welts has been a founding member and CMO of the cloud storage company Wasabi Technologies for the past five years. He also led marketing at network software startup Plexxi, which was acquired by Hewlett Packard Enterprise in 2018.

“I realized very quickly how determined and enormously passionate people here are in defining the era of multi-cloud,” Welts, who has more than 30 years of IT experience, said in a statement. “They are not only taking the lead in creating revolutionary cloud networking technology, they are redefining the cloud networking industry and all bets are on Aviatrix’s victory. … Someone will become the “Cisco” of the multi-cloud era and we believe it will be Aviatrix. ”

With demand for cloud solutions and multi-cloud services skyrocketing, Mullaney is more than optimistic about his company’s future.

“We have 600 customers, but what about the other 10,000 corporate customers? They are in a lot of pain right now, “he said.” Eventually what will happen is that they will become our customers. ”

“We are at a valuation of $ 2 billion. We will be IPO in a year and a half, ”she said. “And we haven’t even really started.”


    Learn more about Mark Haranas

Marco Haranas

Mark Haranas is a long-time assistant news editor and reporter who now covers cloud, multicloud, software, SaaS and channel partner at CRN. He talks to world-renowned CEOs and IT experts, as well as covering the latest news and live events, while also managing several CRN reporters. He can be contacted at mharanas@thechannelcompany.com.


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