Netuitive, a provider of IT analytics, has secured an additional $6.5 million in equity financing. The financing was led by MK Capital and Rembrandt Venture Partners. Cross Creek Advisors and Columbia Capital also participated.
Netuitive, a leading provider of IT analytics, today announced that it has secured an additional $6.5 million in equity financing. This round of financing was led by MK Capital and Rembrandt Venture Partners, and included the participation of Cross Creek Advisors and Columbia Capital. The proceeds will be used to accelerate the market delivery of Netuitive’s latest product release powered by a state of the art big data architecture.
Netuitive’s latest release will allow unprecedented scaling of its IT analytics platform to satisfy the company’s client base that includes some of the largest Fortune 500 companies. The new product platform also enables the cloud delivery of Netuitive’s proven behavior learning technology for both enterprise IT operations and the growing DevOps community.
Netuitive offers a flexible cloud or on-premise model that provides a choice for large enterprises and smaller organizations alike. The initial focus of the cloud offering will be businesses hosted on Amazon Web Services (AWS). Netuitive is also expanding its portfolio of self-service integrations to include open source monitoring tools used extensively by the DevOps community such as CollectD, Diamond, and Graphite, and also offers a cloud-based REST API for ingesting custom data.
“Cloud management is a rapidly growing market and well represented by AWS users that range widely in size,” said Bob Farzami, CEO of Netuitive. “Our patented technologies have matured in dozens of Fortune 500 implementations and are now available for self-service use in the cloud.”
The company also announced that Doug Schrier, a General Partner at Rembrandt Venture Partners, has joined Netuitive’s Board of Directors. Rembrandt focuses on Software-as-a-Service (SaaS) with portfolio companies that include Zenprise, Ooyala, and Xactly.
“Rembrandt’s portfolio reflects our increasing interest in cloud delivery of software solutions,” Schrier said. “With a unique and proven core technology, Netuitive is well-positioned to capitalize on the emerging market for cloud management.”
Netuitive replaces human guesswork with behavior learning technology to automate performance analysis. The company’s software solution is offered as a service (SaaS) and on-premise, and allows users to visualize, isolate, and proactively address IT performance issues across a varitery of data sources before they impact the business. The world’s leading companies, including eight of the 10 largest banks, large Telcos and major eCommerce companies rely on Netuitive to proactively manage the performance of their critical applications and underlying IT infrastructures — physical, virtual and cloud. Industry recognition includes the 2011 “CTO Award for Innovation” from Morgan Stanley, 2013 CODiE Finalist Award for “Best Systems Management Solution,” the 2013 EMA Radar Award for “Advanced Performance Analytics,” and three “Best of VMworld” awards for Virtualization Management. Netuitive is privately financed by a syndicate of venture capital firms including MK Capital, Rembrandt Venture Partners, and Cross Creek Capital. Netuitive is the leading provider of predictive analytics for IT.