Data center management services provider
ScienceLogic has received $43 million in investment. The company, who caters to a range of customers including enterprises, government agencies and service providers, offers a range of products and services including hybrid cloud and Amazon cloud monitoring. The company’s latest Series D venture capital round was led by global investment banking, securities and investment management firm Goldman Sachs alongside the company’s current investors, NEA and Intel Capital. The funds from the investment will fuel the company’s sales, marketing, and product development activities.
ScienceLogic provides IT monitoring services cater for hybrid IT monitoring requirements across multi-cloud environments. Its growth has been fueled by the transition of enterprises and governments away from traditional IT services towards the cloud, especially hybrid solutions. The company operates in an arena where around 80% of enterprises utilize public clouds (AWS, for instance) to establish hybrid IT environments. Of that 80%, 70% are planning an increase in public cloud budgets in the next year. Over the last year the company has experienced a growth of 135% with customer subscriptions rising by 125%.
“We are thrilled to partner with Goldman Sachs as we maximize our market opportunity to rapidly ramp our business growth and deliver even stronger value to our global customer base,” explained ScienceLogic’s CEO, Dave Link. “The investment caps a highly successful 2014 for ScienceLogic, which saw a huge demand for our Hybrid IT monitoring platform and huge growth in our enterprise customer base.”
“We are very excited to partner with ScienceLogic, which is disrupting the multibillion dollar IT management market with products uniquely suited to meeting Hybrid IT monitoring demand,” added Goldman Sachs’ Managing Director Merchant Banking Division, David Campbell. “We were attracted by the transformative market opportunity, the unique differentiation of the ScienceLogic Hybrid IT monitoring software, and the consistent results of a disciplined management team.”
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