ControlUp Raises $10 Million Series B

New Round Will Fuel Growth and Continued R&D

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Mar 28, 2017, 15:56 ET

SUNNYVALE, Calif., March 28, 2017 /PRNewswire/ -- ControlUp, the leading provider of an ITOps analytics and management platform, today announced that it raised $10 million in a Series B funding round. The round was led by K1 Investment Management and Jerusalem Venture Partners, and brings the company's total funding to $13.3 million.

With thousands of customers worldwide, ControlUp spearheads the Collective IT Analytics revolution. By harnessing the power of big data to analyze operational IT data from a global customer base to find patterns, detect problems, establish dynamic baselines and generate actionable targeted insights, ControlUp reshapes ITOps to open the door for smarter IT.

"We're happy to announce our Series B and to further cement our place in the IT community," said Asaf Ganot, Founder and CEO of ControlUp. "After a year of significant accomplishments in 2016, we're expanding our global footprint and are excited to use these funds to continue innovating, growing our company, and enlarging our client base worldwide."

"ControlUp has reached a tipping point by harnessing big data to deliver insightful and unparalleled analytics and remediation to their customers. K1 has been impressed by what Asaf and his team have built, and is excited to partner with ControlUp to continue to drive innovation and disruption in ITOps," said Hasan Askari, Managing Partner of K1.

The announcement comes on the heels of a hot year for ControlUp. In September 2016, the company announced the launch of ControlUp 6, which provides unsurpassed troubleshooting and issues remediation capabilities in enterprise grade hybrid-cloud datacenters. In August, ControlUp joined the Microsoft Enterprise Cloud Alliance, extending its tools to support Microsoft Hyper-V and Microsoft Azure-based workloads that reside in the datacenter or in hybrid clouds. The company also launched ControlUp Insights in April, a new platform that empowers IT administrators to deliver interactive reports with unprecedented visibility and control of hybrid cloud workloads.

About ControlUp
ControlUp is the leading provider of a powerful, yet easy-to-use ITOps analytics and management platform. Used by thousands of companies worldwide, ControlUp helps ITOps teams to monitor, analyze and directly remediate problems in their on-premise, hybrid cloud and cloud infrastructures. ControlUp is headquartered in Silicon Valley with R&D in Israel, and is backed by Jerusalem Venture Partners and K1 Investment Management. For more information, visit us at www.controlup.com.

About K1 Investment Management
K1 is an investment firm focusing on high-growth enterprise software companies across North America. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1's investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. For more information, please visit www.k1capital.com.

CONTACT:
Abigail Jaffe
240-723-2094
[email protected]

SOURCE ControlUp