Pivotal, a start-up based in Palo Alto, California, expects to close a Series C financing round highlighted by $253 million in new cash, led by new investor Ford Motor Company, in conjunction with Microsoft and all previous investors GE, EMC and VMware.
Microsoft said its investment in Pivotal is a response to growing enterprise developers’ desire for an even closer relationship between Pivotal Cloud Foundry and Microsoft Azure.
Pivotal announced the following milestones:
- The company now works with seven of the top 10 U.S. banks, three of the top five global auto manufacturers, and five of the top 10 telecommunication companies.
- Recently announced first-quarter 2016 revenue of $83 million, up 56% year over year
- Annualized recurring revenue of $116 million at March 31, 2016, up more than 200% year over year for Pivotal’s subscription software products—Pivotal Cloud Foundry and Pivotal Big Data Suite
- Pivotal Cloud Foundry and Pivotal Big Data Suite having crossed the $200 million and $100 million annual bookings run-rate milestones, respectively
- Over 2,000 employees and 17 offices worldwide
- Pivotal works with nearly one-third of the Fortune 100 companies, including industry leaders such as GE, Ford, Verizon, Home Depot, Comcast, Humana, Lockheed Martin, and Allstate, each using Pivotal’s products and services to digitally transform their businesses and disrupt established markets.
“Here at Pivotal we are partnering with customers to create a world where the largest and most admired companies can build and run software like Google, Uber or any venture-backed startup. This investment will accelerate our global reach to bring our unique software development methodology and modern cloud platform and analytics tools to every forward-thinking CEO,” said Rob Mee, Pivotal CEO. “We are excited to announce Ford and Microsoft as strategic partners to help introduce Pivotal’s transformative cloud and analytics software to the next thousand customers.”
Pivotal Acquires CloudCredo for Cloud Foundry Expertise
Pivotal, has acquired CloudCredo, a privately-held software developer based in London, along with CloudCredo subsidiary, stayUp, a log analysis technology company for Cloud Foundry.
CloudCredo has a highly-regarded team of Cloud Foundry experts. Pivotal said the acquisition will will better enable enterprise adoption of Pivotal Cloud Foundry.
Pivotal is a spin-out and joint venture of EMC Corporation and its subsidiary VMware. The Pivotal Cloud Native Platform offers integrated application framework, runtime and infrastructure automation capabilities.
“CloudCredo enhances Pivotal’s powerful next-generation portfolio of products and services by bringing extensive knowledge of deploying, running and customizing Cloud Foundry for some of the world’s largest and most admired brands,” said Rob Mee, CEO of Pivotal. “With this expertise, we can better help our customers transform their enterprises by embracing and leveraging Pivotal’s Cloud Native platform more quickly.“
“When we started CloudCredo, we were profoundly influenced by The Pivotal Way. It shaped our approach to modern software development, our culture promoting openness and doing things the right way, and passion for delivering differentiated value to our customers,” says Colin Humphreys, CloudCredo Co-Founder and CEO.“ Joining Pivotal allows us to operate at a global scale, overnight, and help the world’s largest and most admired brands use software to transform their businesses and make an impact on the world.”