French virtualization firm Vates has secured €30 million in a funding round led by IRIS through its Growth fund and Bpifrance via its Large Venture fund. The company currently operates in 100 countries, with North America serving as its primary market and the majority of its revenue generated outside of France.
The capital injection is designated to scale operations and accelerate the company's existing development strategy. Vates intends to enhance its next-generation platform by focusing on performance, storage, security, and automation. These upgrades aim to support large-scale infrastructure management and evolving requirements related to AI workloads.
Vates plans to utilize the funds to strengthen its sales and marketing presence, specifically targeting large enterprises, public-sector entities, and service providers in North America and Europe. Additionally, the company will invest in expanding its partner ecosystem, including distributors, integrators, and technology providers to facilitate large-scale migration projects.
The company maintains its commitment to open-source principles, emphasizing interoperability and customer independence. In 2026, Vates achieved industry recognition by being included in the Gartner Magic Quadrant for virtualization, marking its position as one of the few European vendors to be featured in the report.
