Capital earmarked to further innovation in End-user IT Analytics and open US headquarters in Boston
After an impressive best in class win for innovation as part of The ITAM Review’s Incident Management group test, Nexthink® announced it has raised $40 million in new investment, led by Highland Europe, a leading global venture capital firm. This is the largest round of funding to date for Nexthink and includes participation from the Bertarelli family’s Waypoint Capital and existing investors Auriga Partners and Galeo Ventures.
The official word from Nexthink
This latest round brings the total capital raised by Nexthink to $65 million since the Company was founded from a research project in artificial intelligence at the prestigious EPFL (Ecole Polytechnique Fédérale de Lausanne) in Switzerland in 2004.
Nexthink reported record quarterly growth in 2015 for the ninth consecutive year and annual growth of over 50% – 157% in North America, 170% in Northern Europe and over 60% in the DACH region.
Today the Company has over 600 customers worldwide, representing more than 2.4 million endpoints under management. Nexthink’s technology uniquely addresses a growing need of providing IT departments with real-time visibility of their end-user infrastructure. With Nexthink analytics IT operations teams can decrease end-user disruption by 30% while detecting security incidents in seconds across thousands of computers.
Equipped with the latest round of funding, Nexthink plans to further invest in innovation and expand its global presence, including the recent opening of its US sales headquarters in Boston.
“There is universal pain and a big need to have end-user visibility for any IT team world-wide. This latest round enables us to expand in key markets and add new modules to our product roadmap. Many new surprises are coming up very soon.” said Pedro Bados, CEO/President and Co-founder of Nexthink. “We had multiple investment proposals for this round and the team at Highland Europe was the perfect fit for us. We were convinced by their proximity, strong international network and proven track-record in this space.”
“At Highland Europe, we aim to back entrepreneurs with uncapped ambition and technology companies with global market potential,” said Fergal Mullen, Founding Partner at Highland Europe. “We are delighted to have the opportunity to support Nexthink’s founders in the journey ahead with a view to consolidating the Company’s leadership position in the end-user IT analytics market and building a very valuable business.”
Nexthink’s End-user IT Analytics has received numerous awards including the “Innovation of the Year” by the ITAM Review, the “Endpoint Security Award” at the Computing Vendor Excellence Awards, and “Best Security Project of the Year” by ComputerWeekly. Since its launch three years ago, Nexthink’s global partner program has received a 5-star rating by CRN.
With the new funding, Nexthink looks to increase hiring across all roles and functions, especially sales and engineering. Qualified candidates can apply online at: https://www.nexthink.com/careers/.
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Nexthink is the innovator of End-user IT Analytics for security, ITSM and transformation. Our software uniquely provides enterprise-wide, real-time: analytics covering all endpoints, users, applications and network connections; and visualization of IT infrastructure and service delivery. Nexthink helps IT departments connect, communicate and collaborate to achieve their major goals and to optimize endpoint security, operations, support and workplace transformation projects. Nexthink’s real-time analytics and visualization extend help desk, server monitoring, APM (application performance management) and PCLM (PC lifecycle management) tools and provide essential visibility for IT governance.
Nexthink serves the Global 5000 utilizing a leveraged partner model. Nexthink is a private company headquartered in Lausanne, Switzerland.
Nexthink® is a registered trademark of Nexthink S.A. To learn more, visit http://www.nexthink.com.
About Highland Europe
Highland Europe (www.highlandeurope.com) was launched in 2012 and closely collaborates with Highland Capital Partners, an independent global venture capital firm with three decades of investment experience and offices in Boston, Palo Alto and Shanghai. Highland Europe, based in Geneva and London, is a tight-knit group of partners with years of technology and Internet focused investment experience built up across Europe and the US. The team is exclusively focused on growth-stage investing and has previously backed notable companies such as Vistaprint, PhotoBox, CSR, Mathletics and Moleskine. Current portfolio IT and SaaS companies include NewVoiceMedia, Malwarebytes, TalentSoft, Brandwatch, Adjust, AMCS and Oro.
For my money, this is fantastic news. When reviewing Nexthink for the group test, it was clear just how important both customer experience and “having the Service Desk Agent’s back” was to the entire product team. It’s great to see a company that not only supports best practice but also challenges established ways of thinking expand in this way.
The Service Desk is changing. We live in the world of Amazon, Facebook and Google; it’s no longer acceptable to wait for our customers to ring in and tell us when something goes wrong. The Nexthink ethos is to be a proactive force for Incident Management; the tool can notify users and work on a fix without a single inbound call to the Service Desk. The planned expansion will shake up existing functionality within the market space as competitors will scramble to catch up. Lets face it in this age of IT failures becoming high profile, headline news, anything that helps Service Desks move away from constantly fire fighting can only be a good thing.
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