Numerify raises $15 Million in Series B Funding
Date: Sunday , October 05, 2014
Numerify, a cloud-based analytics company focused on the Business of IT has raised $15 million in an oversubscribed Series B funding round, led by Sequoia Capital. Numerify has received a total of more than $23 million in financing to date, including a Series A round of $8.25 million led by Lightspeed Venture Partners, who also participated in the Series B round. Other investors in Numerify include Amit Singh, president of Google for Work, Deep Nishar, senior vice president of products & user experience at LinkedIn, and Lane Bess, former CEO of Palo Alto Networks. As a part of new round of funding, Doug Leone, partner at Sequoia Capital, will join Numerify\'s board of directors.
\"Having the backing of Sequoia Capital and LightSpeed Venture Partners is a strong endorsement of the strategic importance of unified IT Business analytics for enterprises today and the ability of Numerify\'s applications to meet this pressing need,\" says Gaurav Rewari, Founder & CEO of Numerify.
\"Most IT executives are \'flying blind\' when it comes to understanding the financial and operational dimensions of their service delivery, and they do not usually have the money, time, or talent to invest in the type of analytics solution needed to effectively run IT like a business,\" says Doug Leone, partner at Sequoia Capital and board member at ServiceNow. \"Numerify\'s IT Business Analytics application solves this problem beautifully -with the entire stack in the cloud- making it fast and easy for customers to arrive at precise and actionable insights.\"
Numerify\'s IT Business Analytics Platform Delivers Rapid Insights to IT Leaders Numerify\'s cloud applications give IT executives and managers the context and analytics capabilities they need to achieve a single view of their IT business. Deployed in days or weeks, versus months or years, customers gain instant visibility and deep insights on how to improve IT business operations from the accumulated history of their IT service records, IT asset data, and related HR, financials, and procurement data.
Since its product launch in April, Numerify is already working with more than a dozen enterprises including Netflix, University of San Francisco, Incomm, and Spansion.