Rafay Systems doubles annual revenue as demand for Kubernetes operations platform grows

Rafay Systems doubles annual revenue as demand for Kubernetes operations platform grows

With the growing demand for California-based Rafay Systems’ Kubernetes operations platform (KOP), the platform provider revealed that it has doubled total annual recurring revenue in the six months following its $25 million Series B funding round in August 2021.

The company’s technological advancement to support its industrial-grade SaaS solution for enterprises deploying complex applications in public clouds, data centers or even at the edge.

Rafay System claims that its KOP reduces the complexity and build cost for Kubernetes operation helping enterprise customers to accelerate the deployment process for their specialized applications. The company noted that it added enterprise customers in industries ranging from financial services, healthcare, travel to hospitality, technology, to life sciences.

After the funding last year, Rafay said it achieved several milestones to enhance the functionalities of KOP. Apart from the technological breakthroughs, the company hired more employees — now at roughly 100 employees, according to LinkedIn — resulting in a doubling the annual recurring revenue and also doubling the number of Kubernetes clusters under management.

“We’re proud to offer a turnkey SaaS platform that automates Kubernetes cluster lifecycle management and operations at scale,” says Haseeb Budhani, co-founder and CEO of Rafay Systems. “We will continue to add new capabilities and features to the platform, and successfully reduce the operational burden of managing Kubernetes at scale.”

According to the Cloud Native Computing Foundation (CNCF) annual survey for 2021, a record high of 96% of organizations are either using or evaluating Kubernetes since the survey began in 2016. To serve the growing community, Rafay said it noticed several trends are helping boost its Kubernetes operations platform. Multi-cloud and multi-distribution support have become key factors as enterprises look to leverage a median of two public clouds, executives noted. The result is a growing need for a way to manage application development across those environments.

Rafay Systems’ Kubernetes said its operations platform offers multi-cluster management that enables lifecycle management for managed Kubernetes services such as Amazon EKS and Azure AKS. The GitOps service allows infrastructure orchestration and application deployment through multi-stage, git-triggered pipelines. Leveraging Rafay’s Zero Trust access service, the platform manages and monitors developer access for secure K8s development.

Analysis

Rafay’s place in the operational K8s infrastructure is what it is referred to as an “enterprise-grade SaaS solution” where there is high operational and management cost for Kubernetes infrastructure.  Rafay’s Kubernetes’ operations platform has added in more functionality to serve a wide range of industry adopters while ensuring efficient configuration of the K8s. With its technological improvement and financial gains, the service platform sees itself in a good position in the market by satisfying the needs of enterprise customers.

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