Aviatrix CEO On Potential Post-Broadcom VMware Layoffs And Why On-Prem Market Is ‘The Titanic Going Down’
Aviatrix CEO Steve Mullaney talks to CRN about potential VMware layoffs ahead, why the on-premises market is sinking and Aviatrix’s rapid cloud growth.
How much has Aviatrix grown over the past few years?
We used to be doing a couple million in annual recurring revenue. We had about 100 customers, none of them enterprise, they were all smaller customers.
That was the market back then. But then one day on every enterprise said, ‘Now we’re moving to the cloud.’ I said, ‘My God.’
So now you fast forward: we have over 600 customers. We have 68 Fortune 500 customers. We’re dealing with the elite of the elite of enterprise software.
We will be over $100 million this fiscal year, which ends in January. We’re more than doubling every year.
I’ve raised a bunch of money for us. We raised $200 million last September. I still got $180 million in the bank.
We’re at a $2 billion valuation. We’ll be IPO in a year and a half timeframe. And we haven’t even really started.
You said you have about $180 million in the bank. Where are you going to invest?
Most of it will be on people. We have got over 500 people now.
So most of it’s for people, a little bit of marketing. We’ll probably raise money at some point but we’re not in any rush. Now is not a great time to raise money anyway.
We don’t need to raise money. So we’ll wait until the market gets a little better. We could probably go IPO on the money we have.
Where do you see Aviatrix in five years?
We’ll be a public company. We’re at $100 million now, and we’re doubling that every year.
In five years, we’ll be doing more than $3 billion in revenue, probably have a $50 billion in market cap
We’ll be a horseman of the new infrastructure. All these other companies that used to be great are going to be gone. They’ll be new people like us.