First external growth investment · Enterprise software
Vates raises €30m for virtualization platform and global growth
IRIS’ Growth fund and Bpifrance’s Large Venture fund back the open-source software company.
Vates has raised €30 million from IRIS’ Growth fund and Bpifrance’s Large Venture fund in its first external financing round. The Grenoble company’s co-founders retain majority ownership, and its XCP-ng and Xen Orchestra products will keep their open-source licences.
The investment will support technology development, including performance, storage, security and infrastructure management. Vates also plans to strengthen sales in North America and Europe and expand its network of distributors, integrators and service providers.
Use of funds
Develop virtualization technology
Expand international sales
Grow partner ecosystem
Funding history
First external growth investment · This round€30M