Mirantis Acquisition, Valuation, Funding & Investors
Mirantis was acquired by IREN for $625M in May 2026.
Cumulative funding Mirantis raised
$220M
across 4 funding rounds
Key investors in Mirantis
Intel Capital
WestSummit Capital
Sapphire Ventures
Insight Partners
Dell Technologies Capital
August Capital
Ericsson
Goldman Sachs
About Mirantis
Mirantis is an enterprise open source software company delivering Kubernetes-based platforms for cloud native and AI infrastructure. Its solutions automate deployment and management of containerized applications, virtual machines, and GPU workloads across on-premises, hybrid, and public cloud environments. The San Francisco-headquartered firm serves clients such as Adobe, PayPal, Ericsson, and Societe Generale with OpenStack, Lens, and VirtuaLens technologies.
Founded
1999
HQ
San Jose, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$800M (Oct 2014)
Mirantis Acquisition
Mirantis was acquired by IREN for $625M on 4 May 2026.
Before the acquisition Mirantis had raised $220M across 4 funding rounds.
IREN Ltd. announced a definitive agreement on May 5, 2026, to acquire Mirantis Inc. for approximately $625 million in an all-stock transaction paid in IREN ordinary shares. The deal is subject to customary closing conditions, including regulatory approvals. The acquisition strengthens IREN's software, engineering, and customer support capabilities, particularly in bare metal GPU and Kubernetes orchestration for its AI cloud infrastructure. It bolsters IREN's position as an AI data center operator by integrating Mirantis's cloud infrastructure management software. Mirantis provides infrastructure management software, including Kubernetes orchestration, serving over 1,500 enterprise customers. The company previously raised about $220 million in funding from investors including Intel Corp. and Goldman Sachs.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 4 May 2026 | Strategic M&A | $625M |
Mirantis Valuation
Mirantis is currently valued at $800M, based on its Series B in October 2014.
The $100M round was led by Insight Partners, with participation from WestSummit Capital, Ericsson, August Capital, Sapphire Ventures and Intel Capital.
Mirantis valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2014 | Series B | $800M |
Mirantis Funding History
Mirantis has raised a total of $220M across 4 funding rounds.
Mirantis' first fundraising round was a $10M Series A in January 2013. The most recent completed round was a $100M Series B in August 2015.
Mirantis funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2015 | Series B | Intel Capital (lead); WestSummit Capital; Ericsson; August Capital; Goldman Sachs; Sapphire Ventures; Insight Partners | $100M | - | Mirantis is a pure-play OpenStack vendor that provides cloud infrastructure software and services. The company specializes in simplifying OpenStack deployment and management for enterprise customers, addressing the complexity that requires large teams of IT experts to maintain production environments. In 2014, Mirantis generated the largest OpenStack sale ever, a $30 million deal with Ericsson, and claimed to be booking new business at a rate of $1 million per week. In August 2015, Mirantis announced a $100 million funding round led by Intel Capital with participation from Goldman Sachs (new investor) and existing investors August Capital, Insight Venture Partners, Ericsson, Sapphire Ventures, and WestSummit Capital. The round consisted of $75 million in equity and approximately $25 million in joint development spending with Intel, governed by a co-development agreement that was not treated as pure equity investment. This was technically designated a Series B2 round, following the initial Series B round of $100 million in October 2014 and earlier Series A funding of $20 million in 2013. By the time of this round, Mirantis had raised approximately $220 million cumulatively across all funding stages. Intel's investment was motivated by increasing enterprise demand for OpenStack-based cloud infrastructure; the collaboration aimed to make OpenStack easier to deploy and manage at scale, with Mirantis and Intel planning to refine OpenStack components and enable deployment of up to 2,000 OpenStack nodes out of the box. By the end of 2015, Mirantis reported 127 OpenStack customers and continued its strategic expansion through partnerships with major technology vendors including EMC, Pivotal, CoreOS, and NetApp. |
| Oct 2014 | Series B | Insight Partners (lead); WestSummit Capital; Ericsson; August Capital; Sapphire Ventures; Intel Capital | $100M | $800M | Mirantis, a California-based pure-play OpenStack software and services company, raised $100 million in Series B funding led by Insight Venture Partners on October 21, 2014. The round, which sources describe as the largest Series B open source investment in history and one of the largest Series B investments in B2B software overall, included participation from August Capital and existing investors Intel Capital, WestSummit Capital, Ericsson, and Sapphire Ventures (formerly SAP Ventures). The company had previously raised $20 million across two closings of Series A funding in December 2012 and June 2013. Mirantis operated as an OpenStack distribution provider and systems integrator with a global presence, maintaining offices in Moscow and Saratov in Russia as well as Kharkov and Lvov in Ukraine, with approximately 300 employees in Russia and 100 in Ukraine. The company reported strong commercial momentum at the time of the announcement, with CEO Adrian Ionel stating that Mirantis had accelerated from signing approximately $1 million in new business monthly to $1 million weekly. The company served major enterprise customers including Adobe, Comcast, Ericsson, Expedia, MetLife, NASA, NTT Docomo, PayPal, Societe Generale, and Symantec. Mirantis committed to using the $100 million investment to double its engineering resources, enhance its OpenStack distributions (including Mirantis OpenStack and Mirantis OpenStack Express), accelerate international expansion in Europe and Asia-Pacific, expand its support engineering team, and strengthen its partner ecosystem. |
| Jun 2013 | Series A | WestSummit Capital; Red Hat; Eastven Ericsson Venture Partners; Sapphire Ventures; Dell Technologies Capital; Intel Capital | $10M | - | Mirantis, a systems integrator focused on OpenStack cloud solutions, raised $10 million in growth capital financing in January 2013 from Dell Ventures, Intel Capital, and WestSummit Capital. The funding aimed to accelerate Mirantis' expansion in the OpenStack market, particularly in APAC and China, while maintaining a vendor-neutral approach free of proprietary lock-in. Prior to this round, the privately held company was financed through sales revenues. Mirantis positioned itself as the largest OpenStack systems integrator, providing efficient delivery models and intellectual property to simplify vendor-agnostic cloud deployments for service providers, SaaS vendors, and enterprises. The company had already assisted in over 30 OpenStack projects for customers including NASA, WebEx, Gap, PayPal, Internap, and AT&T in the prior 18 months. As an early OpenStack advocate since 2010, Mirantis joined Dell and Intel as founding members of the OpenStack Foundation, with co-founder Boris Renski elected to its board. |
| Jan 2013 | Series A | Intel Capital (lead); WestSummit Capital; Dell Technologies Capital | $10M | - | Mirantis, an OpenStack systems integrator, raised $10 million in growth capital financing on January 10, 2013, from Dell Ventures, Intel Capital, and WestSummit Capital. The funds were intended to accelerate Mirantis' growth in the OpenStack market, focusing on vendor-neutral implementations for service providers, SaaS vendors, and enterprises. Previously bootstrapped through sales revenues, Mirantis aimed to expand its presence while maintaining a commitment to open-source principles without proprietary lock-in. This $10 million round formed the first tranche of a Series A, followed by a second $10 million tranche in June 2013 from Red Hat, Ericsson, SAP Ventures, and existing investor WestSummit Capital, bringing the total Series A to $20 million. Intel Capital's investment highlighted Mirantis' role in driving early OpenStack adoption. The company positioned itself as a key contributor to OpenStack, emphasizing efficient delivery and intellectual property for simplified cloud deployments. |
Who has invested in Mirantis?
10 investors have backed Mirantis across its funding rounds, including Intel Capital, WestSummit Capital, Sapphire Ventures, Insight Partners, Dell Technologies Capital and August Capital.
Lead investors include Intel Capital and Insight Partners.
Mirantis Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Participant | Jan 2013 | |
| Santa Clara, CA | 4 | Lead | Jan 2013 | |
| Austin, TX | 3 | Participant | Jun 2013 | |
 Stockholm | 2 | Participant | Oct 2014 | |
| San Francisco, CA | 2 | Participant | Oct 2014 | |
| New York City, NY | 2 | Lead | Oct 2014 | |
| San Francisco, CA | 2 | Participant | Jan 2013 | |
| Raleigh, NC | 1 | Participant | Jun 2013 | |
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Start Free TrialAcquisitions by Mirantis
Mirantis has acquired 6 companies to date.
Last acquisition by Mirantis was on January 26th 2023. Mirantis acquired Shipa for undisclosed valuation.
Latest Acquisitions by Mirantis
| Description | Shipa is a cloud-native framework for managing mission-critical applications on Kubernetes. The platform provides centralized configuration control and developer self-service without requiring Kubernetes expertise. Shipa enables rapid deployment for enterprises, integrating with clusters on AWS, Azure, and Google Cloud for application-centric operations. | amazee.io is a Zurich-based provider of managed cloud hosting for open-source platforms like Drupal, WordPress, and TYPO3, tailored for enterprises. Its Lagoon platform handles Kubernetes orchestration, CI/CD pipelines, and GitOps workflows from data centers in Europe and the United States. Clients include Nasdaq, State of Oregon, and Red Bull Media House, ensuring GDPR compliance and zero vendor lock-in. Launched in 2019, amazee.io supports hybrid cloud deployments with 24/7 support from global teams. | - | Kontena is a container orchestration platform simplifying deployment, scaling, and monitoring for DevOps teams on multi-cloud environments. Helsinki-headquartered and founded in 2015, the open-source Kontena Platform under Apache 2.0 license supports Kubernetes workflows and integrates with AWS, Azure, and Google Cloud. Kontena serves enterprises like Fortum and Wärtsilä through its New York branch. | |
| HQ Country | |  | | | |
| HQ City | San Jose, CA | Zurich | San Jose, CA | New York City, NY | |
| Deal Date | 26 Jan 2023 | 26 Jul 2022 | 13 Aug 2020 | 28 Feb 2020 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Mirantis Competitors
Mirantis competitors include listed companies like Rackspace, Corvex and PKSHA Technology, and private ones like Auradine, Yuanli Semiconductor and proteanTecs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Jose, CA | Private | - | - | $500M | - | |
 Beijing | Private | - | - | $759M | - | |
| United States | Publicly listed | $2.7B | $244M | $997M | 1.6x | |
| United States | Publicly listed | $433K | ($15M) | $319M | - | |
 Japan | Publicly listed | $140M | $47M | $627M | 2.4x | |
 Haifa | Private | $60M | - | $600M | 10.0x |
Mirantis Public Comps
Mirantis is no longer listed, but its public comps include Northern Data, PKSHA Technology, Unisound Ai Technology, Hanwang Technology Co, Baudroie, Consensus Cloud, Baida Group Co, Plus Alpha Consulting, Shenzhen Sunwin and ExaWizards.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $92M | ($36M) | 15.4x | - | (39.8x) | - | |||
| $140M | $47M | 4.1x | 2.4x | 12.2x | 10.7x | |||
| $181M | ($22M) | 3.0x | 2.1x | (24.5x) | (36.1x) | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
| $112M | $24M | 5.2x | 4.3x | 24.7x | 21.0x | |||
| $350M | $166M | 3.2x | 3.1x | 6.8x | 5.9x | |||
| $31M | $9M | 13.6x | - | 45.2x | - | |||
| $110M | $36M | 4.2x | 3.8x | 12.9x | 9.4x | |||
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Common questions about Mirantis
| When was Mirantis founded? | Mirantis was founded in 1999. |
| Where is Mirantis headquartered? | Mirantis is headquartered in San Jose, CA, United States. |
| Is Mirantis publicly listed? | No, Mirantis was acquired by IREN in May 2026. |
| Who acquired Mirantis? | Mirantis was acquired by IREN in May 2026. |
| How much was Mirantis acquired for? | Mirantis was acquired for $625M in May 2026. |
| What is Mirantis' valuation? | Mirantis was last valued at $800M in its Series B in October 2014. |
| How much funding has Mirantis raised? | Mirantis has raised $220M across 4 funding rounds. |
| What was Mirantis' last funding round? | Mirantis' last funding round was a $100M Series B in August 2015, led by Intel Capital. |
| Who are Mirantis' investors? | Mirantis' investors include WestSummit Capital, Intel Capital, Sapphire Ventures, Ericsson, August Capital, Insight Partners, Dell Technologies Capital, Red Hat, Eastven Ericsson Venture Partners and Goldman Sachs. |
| Which companies are comparable to Mirantis? | Companies comparable to Mirantis include Auradine, Yuanli Semiconductor, Rackspace, Corvex, PKSHA Technology and proteanTecs. |
| How many companies has Mirantis acquired? | Mirantis has acquired 6 companies, including Shipa, amazee.io, Lens, Kontena and Docker Enterprise. |
| What was the largest acquisition by Mirantis? | The $30M acquisition of TCP Cloud in September 2016 is the largest acquisition Mirantis has made to date. |
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