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Cloud-based network management software firm Auvik Networks Inc. has raised $250 million in new funding to accelerate product development and global reach.
The funding, announced today, came exclusively from Great Hill Partners, which have now taken a majority stake in the company.
Founded in 2011 and based in Ontario, Canada, Auvik offers cloud-based network management software designed to keep information technology networks running optimally. The company’s software automates network management to increase efficiency and capacity.
Auvik’s cloud-based software is pitched as simplifying network performance monitoring and troubleshooting including responding to network issues in real-time. Along with offering a deep dive into problems with Syslog, the software also includes remote access, intelligent insights into network traffic and complete documentation of a network picture as it evolves.
Auvik, a Waterloo, Ontario, Canada and Boston, MA-based provider of cloud-based network management software, secured a US$250m investment from Great Hill Partners.
The company intends to use the funds for product development, segment expansion, geographic reach, and other strategic growth initiatives.
Founded by Marc Morin, Alex Hoff, and David Yach, Auvik provides a cloud-based network management platform enabling visibility and automation IT professionals need to focus on the work.
Today, the company’s software helps IT teams manage more than four million devices on over 50,000 networks.
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