On October 22, cloud-based analytics vendor Numerify announced the finalization of $37.5M in Series C funding led by Tenaya Capital. The funding raise was completed with additional participation from Sequioa Capital and Lightspeed Venture Partners and new investors in the form of the Silicon Valley Bank and Four Rivers Group. The capital raise represents powerful validation of Numerify’s business model based on a cloud-based analytics platform that delivers actionable business intelligence regarding areas such as IT infrastructures, business units and business processes. In contrast to cloud-based analytic solutions that focus on delivering data in formats that enable reporting and analytics, Numerify differentiates by using its analytics platform to identify opportunities to improve operational efficiency, reduce costs, increase revenue and enhance analytics related to risk, fraud, and threat intelligence. Gaurav Rewari, CEO and Founder of Numerify, remarked on the significance of the capital raise as follows:
As one of the first IT business analytics providers on the market, we are delighted that this space is growing so quickly. With our pre-built analytic applications in the cloud that combine domain best practices with hundreds of metrics, reports, dashboards and a unified analytical data model embracing the full sweep of IT business operations, this new investment will support us through our next phases of exponential growth.
Here, Rewari highlights the platform’s “pre-built analytic applications” that use industry-specific best practices to deliver reports and dashboards featuring metrics, KPIs and analytic insights that help optimize IT business operations. The product spans the gamut of IT operations by including processes such as HR, call center operations, finance, assets, infrastructure and project management within its analytical purview. The funding will be used to accelerate product development and expand sales and marketing operations. Thursday’s funding raise brings the total capital raised by Numerify to $60M.
Cloud-based analytics vendor Numerify recently announced the addition of notable product enhancements to its Numerify360 for IT platform marked by solutions dedicated to the needs of managed service providers and retail and higher education institutions. In addition, Numerify revealed a slew of updates to its portfolio of products that facilitate the operation of IT as a business by enhancing its change management, location analytics, incident analysis and text analytics solutions. Unlike many IT analytics vendors that focus on infrastructure and application-related metrics such as latency and throughput, Numerify differentiates itself by building applications focused around empowering IT leadership to obtain visibility regarding its performance as a business that serves other business units within the organization. For example, Numerify’s location analytics capability enables IT to derive granular business intelligence about technology performance in different geographies to facilitate proactive interventions to mitigate technology-related disruptions. Similarly, Numerify’s change management analytics facilitate the identification of changes resulting in service interruptions to minimize the disruptive effect of changes to applications and infrastructure.
News of Numerify’s updates to its platform arrives in conjunction with company announcements of “significant growth” since its April 2014 stealth launch marked by quarterly revenue growth in the triple digits and a bevy of new customer signings. Backed by Lightspeed Venture Partners and Sequoia Capital, Numerify delivers a unique level of analytics that empowers IT to focus on the metrics that impact the satisfaction of their customers rather than remaining mired in technology-related metrics that require the imposition of another level of abstraction to understand their business value and significance. The bottom line here is that the increasing heterogeneity of contemporary IT infrastructures means that the application and infrastructure analytics space is red hot, and likely to continue burning brightly given the sprawl of on-premise, cloud-based and distributed applications. Expect Numerify to continue building on its impressive market traction in the remainder of 2015 and expanding a customer roster that currently includes Netflix, Aruba Networks and the University of San Francisco.