RESTON, VA – Netuitive, a company selling information technology performance management software, has nabbed $10 million in a new equity round led by MK Capital and Rembrandt Venture Partners.
The company previously raised over $27 million from MK, Cross Creek Capital, Bessemer Venture Partners, Columbia Capital, Flagship Ventures, Noro-Moseley Partner and Thomas Weisel Venture Partners, says PE Hub.
The company says the proceeds will be used to expand Netuitive’s global sales and marketing operations to accelerate revenue growth and strengthen the company’s already-established leadership position.
Netuitive sells self-learning performance management software. Based on nine patented technologies resulting from 20 years of academic and commercial research and development, Netuitive products replace human guesswork with automated mathematics and analysis to improve performance of systems, business services and virtual infrastructures.
“Netuitive is poised to become a new standard in IT performance management,” said In Sik Rhee, General Partner at Rembrandt Venture Partners and previously co-founder of data center automation pioneer Opsware. “They have an amazing technology advantage, and are applying it towards winning deals over much larger competitors. Their customer roster is also very impressive, and this investment will help Netuitive accelerate their ability to reach more customers in more markets.”
Rhee joins the Netuitive board in conjunction with the funding.
The new investment follows a record year for Netuitive, marked by 100% year-over-year growth, strong profits and a customer list that topped 300 customers – including 7 of the 10 largest banks.
Netuitive also won the CODiE Award for “Best Systems Management Solution” for the second consecutive year and received the “Best of VMworld” Award for virtualization management.
“We’re in a very unique position right now,” said Nicola Sanna, Netuitive’s president and CEO. “The explosion of virtualization and growing interest in cloud computing is driving the demand for our self-learning performance management software because organizations need control over these very complex environments. The new investment from MK Capital and Rembrandt Venture Partners is enabling us to seize a giant opportunity.”
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
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Tags: financing, IT, MK Capital, Nicola Sanna, peformance management software, Rembrandt Venture Partners, Sik Rhee, Virginia
