SAN JOSE, Calif., Nov. 10, 2021
ControlUp gives employees the freedom and flexibility to access any line-of-business application from anywhere
SAN JOSE, Calif., Nov. 10, 2021 /PRNewswire/ -- ControlUp, the industry leader in Digital Employee Experience management, announced today that it has completed a $100 million funding round, co-led by K1 Investment Management and JVP. This new investment will help drive innovation and partnerships, to give people the flexibility and freedom to work anywhere.
ControlUp helps deliver remote work environments that people can count on. Bringing together the largest and most diverse set of real-time metrics across mission critical SaaS applications, IT teams get a 360-degree view of their entire digital employee experience. Taking less than 10 minutes to deploy and see value, now IT teams are quickly empowered to proactively monitor and improve the health of their systems, gain architectural-level insights, and ensure employees have the freedom and flexibility to access any line-of-business application from anywhere.
"This injection of capital will accelerate our ability to help more enterprises open the door to the limitless possibilities of a simpler, more reliable work-from-anywhere experience," said Asaf Ganot, CEO and Co-Founder at ControlUp. "We give IT real-time visibility into system status, with the ability to resolve help desk calls faster, and even handle potential system issues before they happen. All this translates to fewer headaches, lower costs, higher productivity, and happier people."
Around the world people are demanding remote work options because its better. Both managers and team members see increased productivity, improved work satisfaction, and meaningful reductions in attrition rates when they have the freedom to work the way they want. Enterprise IT teams want to deliver a seamless remote work experience, but obsolete systems can't meet these new requirements. Today, enterprises need a new generation of tools that track in real-time system performance, solve problems faster, and leverage advanced technology like AI and ML to handle potential issues before they happen.
"In the post-COVID-19 era, IT managers of large organizations have the unique challenge of monitoring the performance of the network for each of their employees in the office, at home or in any other remote location," said Erel Margalit, Founder and Chairman of JVP. "ControlUp provides a deep analysis of mission critical applications—for every employee—highlighting problems and finding remedies to solve them. The company's dashboard enables IT managers to monitor, assess and improve the productivity for all the employees in the company."
For over ten years, ControlUp has been working to make remote work simpler and more reliable. ControlUp is used by the largest enterprises to support their hybrid workforces including four of the top five US health insurance companies, five of the top eight US healthcare companies, and four of the top six global telco companies. This past year, ControlUp has seen 50% revenue growth and 67% growth in enterprise accounts, and over 1 Million new seats deployed around the world.
"We continue to see a significant shift toward work-from-anywhere across all industries," said Roy Liao, Senior Vice President at K1. "K1 is proud to partner with ControlUp as it continues to innovate and change the landscape of the digital employee experience market. By focusing on making the employee experience simpler, faster, and more cost-effective, ControlUp provides a unique value proposition that no other vendor fills."
K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 110 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally-focused growth strategies designed to rapidly scale portfolio companies. Since inception of the firm, K1 has partnered with over 170 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information, visit k1capital.com
JVP, founded in 1993 by Dr. Erel Margalit, is an internationally renowned VC fund. Among the pioneering firms of the Israeli VC industry. Over the years JVP has built over 160 companies and has been listed numerous times by Preqin, as one of the top-ten consistently performing VC firms worldwide. JVP has been instrumental in building some of the world's largest companies to emerge, facilitating 12 IPOs on NASDAQ, including CyberArk Software (NASDAQ: CYBR, $4.7 billion mkt. cap.), QLIK Technologies (NASDAQ: QLIK, then $4 billion mkt. cap.) as well as many large industry sales. Over the past decade, JVP has spearheaded the creation of international Centers of Excellence, including the AI and Media center in Jerusalem, the Cyber center in Beer Sheva, the Foodtech center in the Galilee, and the International Cyber and FinTech center in NYC, in partnership with NYC/EDC and the leading universities of the city. JVP is currently in the process of developing new centers of excellence in Europe, as well as in the UAE, that will be a new chapter for Israeli technologies to engage with the region.
ControlUp's Digital Employee Experience management platform gives IT increased visibility and control over employees' digital experience, no matter where they work—in the office, from home or on the road—or the type of workspace they use: virtual, physical or cloud. ControlUp analytics harnesses anonymous operational metadata from thousands of organizations to help IT and help desk teams make informative, data-driven decisions. Headquartered in Silicon Valley with R&D in Israel, ControlUp is backed by JVP and K1 Investment Management. For more information, visit us at www.controlup.com.
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Monica Maron | For ControlUp