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- Aviatrix
Aviatrix Revenue, Valuation, Funding & Investors
Aviatrix is valued at $2B as of September 2021, a 50.0x multiple on its last reported $40M revenue.
Last Aviatrix valuation
$2B
Series E · Sep 2021
Last Aviatrix funding round
$200M
Series E · Sep 2021
Aviatrix revenue
$40M
Series E · Sep 2021
Key investors in Aviatrix
Formation 8
Ignition Partners
CRV
Liberty Global Ventures
General Catalyst
Meritech Capital Partners
About Aviatrix
Aviatrix is a Santa Clara-headquartered cloud networking company that secures multi-cloud environments. Its Cloud Native Security Fabric provides visibility, microsegmentation, and firewalling for workloads on AWS, Azure, and Google Cloud. Networking teams deploy virtual routers and transit networks for encrypted traffic.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$40M (Sep 2021)
Valuation
$2B (Sep 2021)
Aviatrix Valuation
Aviatrix is currently valued at $2B, based on its Series E in September 2021.
The $200M round was led by TCV, with participation from General Catalyst, Greenspring Associates, TrueBridge Capital Partners, Ignition Partners, Formation 8 and 6 other investors.
Aviatrix's valuation has grown 15x from $135M at its Series C in October 2019 to $2B in September 2021, across 3 priced rounds.
Aviatrix valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series E | $2B | 50.0x |
| Feb 2021 | Series D | $700M | - |
| Oct 2019 | Series C | $135M | - |
Aviatrix Revenue
Aviatrix's latest recorded revenue is $40M, as of its Series E in September 2021. At a $2B valuation, that implies a 50.0x revenue multiple.
Aviatrix revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $40M | $2B | 50.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Aviatrix Funding History
Aviatrix has raised a total of $341M across 6 funding rounds.
Aviatrix's first fundraising round was a $800K seed round in September 2014. The most recent completed round was a $200M Series E in September 2021.
Aviatrix funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series E | TCV (lead); General Catalyst; Greenspring Associates; TrueBridge Capital Partners; Ignition Partners; Formation 8; Tiger Global; Liberty Global Ventures; Insight Partners; CRV; Unbound Ventures; Meritech Capital Partners | $200M | $2B | Aviatrix, a Santa Clara-based cloud networking and network security company founded in 2013, provides a multi-cloud networking platform that simplifies and automates network security, operational visibility, and connectivity for enterprises adopting multi-cloud strategies. The platform addresses challenges in operationalizing multi-cloud environments, delivering enterprise-grade visibility, security controls, and automation akin to on-premises systems but optimized for cloud agility. Customers include over 500 organizations worldwide, with the solution positioned as mission-critical for large enterprises undergoing cloud transformation. On September 8, 2021, Aviatrix announced a $200 million Series E growth funding round led by TCV, with participation from new investors Insight Partners and Tiger Global, alongside existing backers CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition Partners, Liberty Global Ventures, Meritech Capital Partners, and TrueBridge Capital Partners. This round elevated the company's post-money valuation to $2 billion, more than doubling from the prior $700 million-plus valuation six months earlier after its Series D. TCV General Partner Tim McAdam joined the board, citing Aviatrix's rapid enterprise customer value delivery and potential in the multi-cloud market shift. Proceeds from the funding are earmarked for scaling worldwide sales and support operations amid surging enterprise demand for cloud-native networking. To date, Aviatrix has raised over $340-346 million across multiple rounds, including a $75 million Series D in February 2021 led by General Catalyst. The investment underscores confidence from prominent growth equity players like TCV, known for backing over 135 IPOs and acquisitions in tech sectors including networking firms like Silver Peak. |
| Feb 2021 | Series D | General Catalyst (lead); Greenspring Associates; TrueBridge Capital Partners; Ignition Partners; Formation 8; Liberty Global Ventures; CRV; Meritech Capital Partners | $75M | $700M | Aviatrix is a cloud networking platform providing enterprise-grade secure network solutions for managing infrastructure across multiple cloud providers, offering simplified networking architecture, advanced security, operational visibility, and support for mission-critical applications. Founded in 2013 and based in Santa Clara, California, the company has raised a total of $340M across 8 funding rounds, with investors including CRV (Charles River Ventures), Formation 8, General Catalyst, Ignition Partners, Liberty Global Ventures, and others. The specified Series D round occurred on February 22, 2021, led by General Catalyst with participation from CRV, Formation 8, Greenspring Associates, Ignition Partners, Liberty Global Ventures, Meritech Capital Partners, and TrueBridge Capital Partners. A subsequent Series E round on September 8, 2021, is noted with a $2,000M (2 billion USD) post-money valuation. Aviatrix reached Secondary Market stage by December 2022, with competitors including Alkira, Nefeli Networks, Valtix, and Prosimo. The platform emphasizes high-performance networking, intelligent routing, resiliency, and integration with cloud infrastructures, as demonstrated in partnerships like Inovalon's adoption in 2025 for multicloud optimization. |
| Oct 2019 | Series C | CRV (lead); Ignition Partners; Formation 8; Liberty Global Ventures | $40M | $135M | Aviatrix is a cloud networking startup that provides networking, security, and operational services for enterprise multi-cloud environments, enabling consistent architecture across public clouds. Founded about four years prior, it announced a $40 million Series C funding round on October 28, 2019, led by CRV, with participation from existing investors Formation 8, Ignition Partners, and Liberty Global Ventures. This brought total funding to over $76 million. One source reported the company's total value increased to $135 million following this round. The proceeds were allocated to scale sales, channel partnerships, customer support, marketing, and product development to meet growing demand from enterprises migrating mission-critical applications to public clouds. CEO Steve Mullaney highlighted unprecedented demand from large organizations, positioning Aviatrix to extend its market leadership. The Gunderson Dettmer announcement confirmed the $40 million Series C details matching the specified investors. Subsequent rounds included a $75 million Series D in February 2021 led by General Catalyst and a $200 million Series E in September 2021 led by TCV, which elevated valuation to $2 billion with participation from prior investors including CRV and Liberty Global Ventures. |
| Jan 2017 | Series B | CRV (lead); Ignition Partners; Formation 8 | $15M | - | Aviatrix raised $15 million in its Series B funding round in January 2017, led by CRV with participation from Formation 8 and Ignition Partners. The funds were intended to scale operations, enhance platform capabilities, support a rapidly growing customer base, drive strategic partnerships, and expand cloud networking solutions. This brought total funding to $25 million at the time. Aviatrix provides a hybrid cloud networking platform that abstracts, automates, and simplifies networking across data centers and cloud providers to accelerate hybrid cloud strategies for enterprises migrating workloads like development, test environments, disaster recovery, and identity management. |
| Feb 2015 | Series A | Ignition Partners; Formation 8 | $10M | - | Aviatrix, a Santa Clara-based provider of cloud networking services for enterprises, raised a $10 million Series A round from Formation 8 and Ignition Partners around February 2015. The company, founded in 2014 by Sherry Wei and Steve Mullaney, develops a cloud network platform delivering advanced networking, security, and operational visibility. Formation 8 and Ignition Partners are listed among Aviatrix's major investors. |
| Sep 2014 | Seed | Monta Vista Capital (lead) | $800K | - | - |
Who has invested in Aviatrix?
13 investors have backed Aviatrix across its funding rounds, including Formation 8, Ignition Partners, CRV, Liberty Global Ventures, General Catalyst and Meritech Capital Partners.
Lead investors include TCV, General Catalyst, CRV and Monta Vista Capital.
Aviatrix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Participant | Feb 2015 | ||
| 5 | Participant | Feb 2015 | ||
| 4 | Lead | Jan 2017 | ||
| 3 | Participant | Oct 2019 | ||
| 2 | Lead | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 1 | Lead | Sep 2021 | ||
| 1 | Lead | Sep 2014 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 13 Aviatrix investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAviatrix Competitors
Aviatrix competitors include listed companies like CANCOM and UCloud Technology, and private ones like Orca Security, Sysdig, Obsidian Security and CertiK.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.8B | - | ||
| Private | - | - | $2.5B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $2B | $118M | $740M | 0.4x | ||
| Private | - | - | $2B | - | ||
| Publicly listed | $253M | $31M | $2B | - |
Aviatrix Public Comps
Aviatrix is still privately-owned, but its public comps include ESDS Software, SharonAI, UCloud Technology, A10 Networks, CETC Cyberspace Security, VNET Group, C3.ai, Progress Software, Nava and SoftwareOne.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $49M | $25M | 38.3x | 13.8x | 76.7x | 56.6x | |||
| $2M | ($36M) | 752.3x | 13.7x | (32.7x) | 46.2x | |||
| $253M | $31M | 7.7x | - | 63.2x | - | |||
| $291M | $62M | 6.3x | 5.7x | 29.4x | 19.1x | |||
| $338M | $20M | 4.5x | - | 73.6x | - | |||
| $1.5B | $463M | 4.1x | 3.7x | 13.2x | 11.8x | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $978M | $302M | 3.0x | 2.9x | 9.6x | 7.3x | |||
This data is available for Pro users. Sign up to see all Aviatrix competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Aviatrix
| When was Aviatrix founded? | Aviatrix was founded in 2014. |
| Where is Aviatrix headquartered? | Aviatrix is headquartered in San Jose, CA, United States. |
| Is Aviatrix publicly listed? | No, Aviatrix is a private, VC-backed company. |
| What is Aviatrix's valuation? | Aviatrix was last valued at $2B in its Series E in September 2021. |
| How much funding has Aviatrix raised? | Aviatrix has raised $341M across 6 funding rounds. |
| What was Aviatrix's last funding round? | Aviatrix's last funding round was a $200M Series E in September 2021, led by TCV. |
| Who are Aviatrix's investors? | Aviatrix's investors include Ignition Partners, Formation 8, CRV, Liberty Global Ventures, General Catalyst, Greenspring Associates, TrueBridge Capital Partners, Meritech Capital Partners, TCV, Monta Vista Capital and 3 others. |
| What is Aviatrix's revenue? | Aviatrix's latest recorded revenue is $40M (September 2021). |
| What is Aviatrix's revenue multiple? | Aviatrix's latest valuation implies a 50.0x revenue multiple ($2B valuation on $40M of revenue). |
| Which companies are comparable to Aviatrix? | Companies comparable to Aviatrix include Orca Security, Sysdig, Obsidian Security, CANCOM, CertiK and UCloud Technology. |
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