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· Capital earmarked to further innovation in End-user IT Analytics and open US headquarters in Boston
· Software vendor allocates 20% of the investment towards expansion in the Middle East and Asia
UAE - Nexthink®, the unique provider of End-user IT Analytics, today 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.
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. With the Middle East and Asia being a significant contributor to Nexthink's business growth, 20% of the investment will be allocated towards regional expansion, creating further jobs and building an innovation hub to meet the growing needs of customers.
Nexthink reported record quarterly growth in 2015 for the ninth consecutive year and annual growth of over 50%.
Today the Company has over 600 customers worldwide and some of their key customers in the region include Wipro, Saudi Electricity Company, du, National Commercial Bank, ADCO, Jumeriah Group, and the Ministry of Health UAE. 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 also moves its US sales headquarters to 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 options to pick the right partners and we truly believe Highland Europe and Waypoint are the perfect choice. We were convinced by their proximity, strong network, financial capabilities 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."
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About Nexthink
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 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.
© Press Release 2016
