Cloud-based network management software provider, Auvik Networks, has secured a $250 million investment from Great Hill Partners – a private equity company that invests in high-growth, disruptive businesses. Auvik’s targets will be accelerated by the investment, which will finance product development, segment expansion, regional reach, and other strategic growth efforts.
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Auvik would simplify network administration by giving IT professionals with the visibility and automation they need to focus on the tasks that add the most value to their company. Auvik’s software now assists IT departments in managing over four million devices over 50,000 networks.
“Network management should be easier. That has been Auvik’s rallying cry since 2011 when we set out on a quest to give IT professionals, and the organizations they support, something better – something faster and easier,” said Marc Morin, Chief Executive Officer (CEO) of Auvik Networks. “By partnering with Great Hill Partners, a growth investor with deep domain experience and expertise, and our continuing investor Celtic House Venture Partners, we are confident that we will be able to accelerate our impact and bring reliable IT solutions to IT professionals everywhere.”
“Auvik has a truly innovative approach to ITOps and has developed powerful software that IT teams not only enjoy using, but is essential to their operations,” said Drew Loucks, a Managing Director at Great Hill Partners. “We have been very impressed with the company’s customer satisfaction rating and reputation and we believe the team is well positioned to capture a significant portion of the evolving market moving forward.”
Auvik Networks was established by Marc Morin, Alex Hoff, and David Yach. For the last two years, the firm has been named the #1 rated Canadian company in the FT Americas’ Fastest Growing Companies and has won the Deloitte Technology Fast 50 and Deloitte Technology Fast 500.
Auvik’s financial adviser for this funding round was AQ Technology Partners, and its legal counsel was Dentons Canada LLP. Great Hill Partners’ legal advice was Choate, Hall & Stewart LLP and Blake, Cassels & Graydon LLP.