Nexthink raises $14.5M in Series D funding round to drive global growth09.12.2014 13:16
Nexthink, the unique provider of End-user IT Analytics, today announced that it has secured $14.5 million in a Series D round of funding, led by Auriga Partners with participation from new investor and entrepreneur Gilles Queru and existing investors VI Partners and Mannai Corporation. Nexthink has raised $29 million to date and plans to use the new funding to scale internationally, while further investing in the development of End-user IT Analytics solutions for mobility and cloud.
Founded in 2004, following a research project in artificial intelligence at EPFL (Ecole Polytechnique Fédérale de Lausanne) in Switzerland, Nexthink has pioneered a new category of IT Operations Analytics (ITOA) called End-user IT Analytics. Rather than monitor IT services from the data center, Nexthink analyzes IT service quality, security and risk from the perspective of the business end-user, referred to as an ‘outside-in’ approach.
“With the consumerization of IT, mobility and cloud trends, there is a fantastic opportunity for Nexthink’s end-user approach,” said Gilles Queru, new investor, entrepreneur and Nexthink board member. “I am excited to support Nexthink’s vision and its quest to become the end-user analytics platform market leader.”
In the age of the customer, the Company is helping IT organizations align their services with the business to improve end-user productivity and grow the business. Only Nexthink is able to analyze in real-time all the interconnected associations between end-users, applications, network connections and IT services across the entire enterprise and turn that end-user data into actionable intelligence. ITOA is an expanding market with rapid growth opportunities. According to Will Cappelli, Gartner Research, Vice President, Enterprise Engagement, “Spend on IT operations analytics technologies and services is set to grow by 100% over the course of 2014.”
“Over the last two years we’ve more than doubled our customer base. This momentum is evidence that, in the age of the customer, end-user analytics are an essential business technology,” said Pedro Bados, CEO and Co-founder of Nexthink. “With a pipeline of new technology innovations, we believe Nexthink will provide the best platform in this new category for many years to come.”
For the next stage of growth, the company recently added Michel Lerendu as its Chief Financial Officer. Michel brings with him more than 30 years’ experience serving as CFO with software companies of varying sizes. Prior to Nexthink, Michel was CFO at Neolane, completing a very successful exit to Adobe in 2013.