IRIS and Bpifrance back Vates with €30M for global expansion

What happened

French virtualization company Vates has raised €30 million from IRIS’ Growth fund and Bpifrance, through its Large Venture fund, amid shifts in the global virtualization market. The company has expanded its international presence in recent years, recording strong growth and building a customer base across 100 countries, with most of its revenue coming from outside France and North America emerging as its largest market.

Changes to licensing models, rising infrastructure costs and increasingly complex architectures are driving demand for platforms that offer performance and cost control while providing interoperability, sovereignty and reversibility. Vates is addressing this shift with an open-source virtualization platform designed to give organisations greater control over their infrastructure, reduce technological dependency and retain flexibility in how their infrastructure is designed. A third area of investment will be Vates’ partner ecosystem.