Aviatrix IPO Plan and Pursuit of $50 Billion Market Capitalization

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Mark Haranas

With sales and customers doubling each year, cloud leader Aviatrix unveils its plan to become “Cisco’s next generation” for the multi-cloud era.

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

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

Aviatrix doubles its revenue each year, gains dozens of new Fortune 500 customers each year, hires hundreds of net new employees, and recently raised $200 million in a single funding round.

“Within five years, we will have revenue in excess of $3 billion, and possibly a market capitalization of $50 billion,” Mulaney said. “We’ll be a racer on the new infrastructure.”

Aviatrix All-in-One Multi-Cloud

Sherry Wei, founder and CTO of Aviatrix, established her company in Santa Clara, California in 2014 after a long career at Cisco with the belief that cloud networks are very different from enterprise data center networks.

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

Aviatrix Secure Clouds are software-deployed programs that directly program your cloud-native constructions to maintain the simplicity and unique automation of each cloud provider, including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Oracle Cloud, and Alibaba Cloud.

Then Aviatrix injects advanced networking, security, automation, and Day Two operational visibility into organizations using one or more public clouds.

“Cloud providers do very primitive networking functions. Every cloud is different. Companies need someone to give them advanced services that fit in with the primitive things that cloud providers offer,” Mulaney said. Because they wouldn’t have five different structures.”

“The Next Generation of Cisco”

Mulaney said that Aviatrix simplifies multi-cloud networking for organizations that currently have to use “primitive networking services” and “low-level native architectures” from cloud service providers.

“There are two things that every organization needs more than anything: vision and control. Vision first. Then they have to control security, control performance, control cost — if you don’t give them the ability to have that vision and control, they fly blind,” he said. . “Think of us as the next generation of Cisco. We are not a better Cisco, we are a different Cisco.”

Aviatrix customers gain a cloud-native operating model as well as the necessary visibility and control from a network and network security perspective.

Mulaney said that typical organizations have many different business units that each use a different cloud, such as AWS, Azure, and Google Cloud.

“You can’t have five different architectures for networking and security. You need one that summarizes all the details under it. Because there is no way you will have enough people who will understand AWS, Azure, Google, Oracle, Alibaba cloud, etc.,” Mulaney said. .

“We’re getting that out of the way so you don’t need to know the low-level details,” he said. “So it looks like one network for our clients. They go, ‘Oh that’s cool.’” I can handle that.’ It’s all infrastructures as code, it’s all completely software defined, and it’s a lot like the cloud where you don’t manage things manually. “

Steve Mulaney is a driving force

Mullaney served as CEO of Nicira, a leader in software-defined networking, which was acquired by VMware in 2012 for $1.3 billion. Nicira technology has become the leading networking solution for VMware NSX.

During his IT career, he has also held titles including interim CEO of Palo Alto Networks; Vice President of Marketing for Blue Coat Systems and Force 10 Networks; He is also the 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 spread creating a complex IT environment for businesses.

“Humans cannot understand the enormity and scale of cloud computing. You know it is big, but it is much bigger than anything else,” he said.

With Mullaney at the helm since 2019, Aviatrix has gone from a few million in annual recurring revenue sales and nearly 100 SMB customers, to a $100 million company with more than 600 customers, including 68 Fortune 500 companies. He said the company is on track to double its sales, he said. in 2023.

$200 million financing round

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 more employees and for marketing purposes, raised Aviatrix’s value to $2 billion.

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

“I quickly became aware of the tremendous determination and passion that the people here have about defining the age of the multi-cloud,” Welts, who has more than 30 years of experience in the IT industry, said in a statement. “They are not only taking the lead in creating game-changing cloud technology, they are redefining the cloud networking industry, and all bets are on Aviatrix winning the race. … Someone who is going to be ‘Cisco’ in the age of multi-cloud, and we believe that will be Aviatrix.”

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

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

“We’re at a $2 billion valuation. We’re going to go public in a year and a half in a time frame.” And we haven’t even started already.

    Find out more about Mark Haranas

Mark Haranas

Mark Haranas is associate news editor and longtime journalist who now covers cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renowned CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be contacted at mharanas@thechannelcompany.com.

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