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Portainer seals a successful US$6M series A funding round

Portainer seals a successful US$6M series A funding round

US-based Bessemer joined by local VCs Movac, K1W1 and Ampliphi.

Neil Cresswell (Portainer.io)

Neil Cresswell (Portainer.io)

Credit: Supplied

New Zealand founded container management software developer Portainer.io has followed its seed funding round last August with a successful series A round of US$6 million.

As with the seed round, the series A was led by Bessemer Venture Partners this time joined by  joined by leading New Zealand technology investors Movac and Sir Stephen Tindall’s K1W1 and Ampliphi Ventures as well as prominent European investor Sonae Investment Management.

With over half a million regular monthly users in 190 countries, the round will fund Portainer’s user expansion and product development, with a particular focus on Europe.

Containeriation technology allows enterprises to de-couple the code running business applications from the underlying hardware and operating system on the hardware. This allows software to be run efficiently as small, flexible services as opposed to large, monolithic blocks of code which hare hard to maintain and update.

Portainer makes managing containers simpler by providing a graphical interface so they can be managed from a dashboard instead of developers needing to write and check code. 

“Portainer.io’s series A is a great demonstration of how the venture capital industry is evolving towards a more global market, a trend accelerated by COVID.” said Lovina McMurchy, partner at Movac. 

“This round brings together a US VC, a European based VC and a VC here in New Zealand to support a company taking on a global opportunity." 

Portainer launched in 2017 as a dashboard for Docker container management but has expanded into a fully-featured, container-native application deployment and management tool with a Kubernetes GUI, in addition to supporting Docker, Docker Swarm, and Azure AC.

In 2020 Portainer also launched a paid version of its software offering enterprise-level security and control for deploying containers in business-critical environments.

Portainer’s community now spans 190 countries, 4.8 million total users, and 500,000 regular monthly users, and is growing at 50 per cent year-on-year, the company said.

The company's team of advisors includes a Google’s principal engineer, Kelsey Hightower, a respected expert in cloud computing and Kubernetes, the system which powers most containerisation initiatives.

Bessemer Ventures has over US$5 billion under management and has investing in companies such as Linkedin, Docusign, Shopify and Twilio. 


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