Nexthink raises $40m for investment funding
Nexthink will allocate 20% of the investment towards expansion in the Middle East and Asia
End user IT analytics company, Nexthink shared it has raised $40m in new investment, led by Highland Europe, a global venture capital firm.
The Middle East and Asia play a significant part to Nexthink's business growth, as 20% of the investment will be allocated towards regional expansion, creating further jobs and building an innovation hub to meet the demands from customers.
The company has over 600 clients worldwide, with clients from the region including, Wipro, Saudi Electricity Company, du, National Commercial Bank, ADCO, Jumeriah Group and the Ministry of Health UAE.
Nexthink's technology 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.
Pedro Bados, CEO, president and co-founder of Nexthink said: "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.
"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."
This is the largest round of funding to date for Nexthink and includes participation from the Bertarelli family's Waypoint Capital. The amount raised brings the total capital by Nexthink to $65, since the company was founded from a research project in artificial intelligence at the EPFL (Ecole Polytechnique Fédérale de Lausanne) in Switzerland in 2004.
Nexthink is also moving its US sales headquarters to Boston.