Aviatrix hits $2bn valuation after second funding round this year

Cloud networking and network security platform Aviatrix has raised $200m in a growth funding round led by TCV.

Contributions to the round also came from Insight Partners and Tiger Global. Also joining the investment were existing backers CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition, Liberty Global Ventures, Meritech Capital and TrueBridge Capital Partners.

Funds from the Series E puts the FinTech company’s valuation at $2bn.

With the capital injection, Aviatrix will scale its global sales and support operations to meet the rising demand form customers.

TCV general partner Tim McAdam said, “Enterprise adoption of a multi-cloud strategy has gone mainstream, which combined with an outstanding team drove our decision to invest in the cloud networking leader of this massive market transformation.

“Aviatrix’s ability to quickly deliver enterprise customer value and establish itself as mission-critical in these large organizations is both impressive and indicative of long-term growth.”

As part of the round, McAdam will join the Aviatrix board of directors.

The RegTech company previously raised $75m in its Series D round, which it closed in February 2021. The investment was led by General Catalyst.

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