Vistara Growth puts $18m to work in B2B IaaS company Skytap

• Skytap lets businesses migrate, run, and modernize IBM Power and x86 workloads in the public cloud without rewriting or costly re-platforming efforts
• The proceeds of the financing will advance Skytap’s technology roadmap and expand go-to-market initiatives with Microsoft Azure, IBM and other partners
• Vistara Growth provides growth capital to mid- and later-stage technology companies across North America

Skytap, a Seattle-based B2B infrastructure-as-a-service (IaaS) company, has raised a financing package worth $18 million.

The investor was Vistara Growth, a Canadian provider of flexible growth debt and equity solutions to technology companies.

Skytap lets businesses migrate, run, and modernize IBM Power and x86 workloads in the public cloud without rewriting or costly re-platforming efforts. The technology allows organizations to extend the value of traditional systems and gradually modernize them with cloud-native architectures and services at their own pace.

The proceeds of the financing will advance Skytap’s technology roadmap and expand go-to-market initiatives with Microsoft Azure, IBM and other partners.

On the funding, Noah Shipman, a partner at Vistara Growth said in a statement, “When seeking to modernize heavily customized enterprise applications running on specialty infrastructure, there are often no good options – either complex re-platforming or costly capital expenditures. Skytap provides a capitally efficient and trustworthy solution to this seemingly no-win situation while providing a new and differentiated offering for public cloud providers to offer their enterprise customers. We are excited to team up again with Barney, and to work with Brad and the rest of the Skytap team and investors to execute this next phase of company growth.”

Existing investors in Skytap include Madrona, Insight Partners and Goldman Sachs Growth.

With headquarters in Vancouver, Vistara Growth provides growth capital to mid- and later-stage technology companies across North America.