Liberty Global Ventures, the corporate venturing unit for mass media group Liberty Global, participated in a $200m series E round for US-based networking and cybersecurity technology provider Aviatrix yesterday.
The round valued Aviatrix at $2bn and was led by technology investment firm TCV, which was also joined by Insight Partners, Tiger Global Management, Formation 8, General Catalyst, Greenspring Associates, Ignition, Meritech Capital and TrueBridge Capital Partners.
Founded in 2014, Aviatrix maintains an enterprise software platform for multi-cloud networking, network security and operational visibility. The series E round proceeds will allow the company to grow its sales and support operations globally.
Steve Mullaney, CEO of Aviatrix, said: “The transformation to cloud is being driven by CEOs to deliver business agility. The cloud network infrastructure cannot rely on the horrible, complex operational model of the 1990s data centre to deliver on that agility.
“Enterprises need the visibility and security controls they had on-premises, but with the operational simplicity and automation of cloud. Only Aviatrix can deliver this value.”
Aviatrix has raised $351m of funding to date. General Catalyst led its $75m series D round, in February 2021, which also featured Liberty Global Ventures, CRV, Formation 8, Greenspring Associates, Ignition, Meritech Capital and TrueBridge Capital Partners.
Liberty Global Ventures also contributed to a $40m series C round for the company in October 2019 that was led by CRV and which included Formation 8 and Ignition.
Aviatrix had received $15m in a 2017 series B round led by CRV and backed by Formation 8 and Ignition. The latter two had also supplied $10m of series A funding for the company two years earlier.