SysAid announces $30 million investment to deepen its commitment to improving productivity of IT and operations in mid-market organizations

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The investment by leading tech growth fund IGP will accelerate SysAid's growth in the ITSM market and beyond

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Nov 20, 2018, 08:00 ET

BOSTON, Nov. 20, 2018 /PRNewswire/ -- SysAid, a leading provider of service desk and IT service management (ITSM) solutions, announced today the closing of a $30 million investment by IGP. The investment marks SysAid's first funding round, having operated as a bootstrap company since it was founded in 2002.

For more than 15 years, SysAid has simplified on-going operations for IT Professionals and has empowered them to deliver exceptional service amid increasing demands and complexity. More than 10,000 customers and 9 million end-users worldwide use SysAid daily to enhance their productivity across the workplace, from IT and operations to finance, HR and marketing functions. SysAid's express implementation and ease-of-use has consistently led the industry in customer review websites, including G2 Crowd, Capterra and Gartner Peer Insights.

"We are dedicated to simplifying and streamlining the complexities of day-to-day life for IT professionals on the service desk," said Sarah Lahav, SysAid CEO. "Following almost two decades of deep collaboration with our valuable customers, we have a profound understanding of their challenges and needs, and we build our solutions just for one purpose: to provide our customers with a single, holistic tool that allows them to deliver first-class service to their organizations."

SysAid will use the funding to accelerate its growth and reinforce its position as the global leader to empower even more mid-market organizations looking to deliver an exceptional cross-organizational service experience, based on ITSM best practices and frameworks.

SysAid's ITIL-aligned ITSM solution also includes powerful automation, root cause analysis and codeless configuration that customers can access from a single screen. This round of funding will enable SysAid to keep its customers on the cutting-edge of industry developments and help them scale to maximize their impact.

SysAid founder Israel Lifshitz continued: "We founded SysAid to positively impact the lives of IT professionals across the globe. We're excited that this new partnership enable us to keep our customers one step ahead of the ever-changing demands of the business to deliver great service at scale, both quickly and with minimal effort."

Following the investment Haim Shani, IGP Co-Founder and General Partner and Uri Erde, General Partner of IGP, will join the SysAid board.

Haim Shani commented: "Sarah and Israel have built an exceptional business and we are excited to partner with them in taking the company to the next phase of growth." Uri Erde continued: "As digital transformation continues to gather momentum, executive expectations of technology and IT teams will continue to rise. SysAid is the platform that enables business-savvy IT professionals to demonstrate the impact and value they're delivering to the organization on a daily basis."

For inquiries, please contact: Jade Kahn, VP Marketing, +1 (800) 686-7047

About SysAid
Offered in both cloud and on-premise versions, SysAid is a globally-adopted IT Service Management (ITSM) solution that combines all the essential capabilities in one, feature-rich tool. From traditional ticket management to asset management, SysAid allows administrators to monitor and manage tasks in one platform, so they can deliver fast and comprehensive support from a single view. Available in 42 languages, SysAid serves over 10,000 customers across 140 countries, spanning all industries and sizes.

About Israel Growth Partners - IGP
IGP is Israel's leading tech growth fund and was founded in 2014 by Haim Shani and Moshe Lichtman. IGP currently has $480 million in assets under management, with investments across eleven companies in the technology sector. The fund has already made several successful exits; including R2NET, the world's second-largest online jewelry and diamond retailer, and Panaya, which provides automation services for upgrading ERP systems and was sold to Infosys.

SOURCE SysAid