Auvik Secures $250 Million in New Funding from Great Hill Partners

Auvik, the cloud-based network management software firm, has secured $250 million in new funding from Great Hill Partners.

MSPs globally use Auvik’s network monitoring and management software to automate tasks, streamline operations, grow revenue, mitigate risk and strengthen client relationships.

Auvik will use the Great Hill Partners investment to fund its product development, segment expansion, geographic reach and other strategic growth initiatives.

Marc Morin is Auvik‘s CEO and co-founder.

Auvik’s Marc Stein

“Auvik’s strategy is to provide products for MSPs to be more effective at servicing their clients,” he said. “MSPs have and will continue to be an important segment for Auvik. We believe more organizations of all sizes should use MSPs to monitor their infrastructure including networks. As Auvik creates new product areas, we will always look to help MSPs monetize a service around them.”

Auvik’s software helps IT teams manage more than 4 million devices on over 50,000 networks.

Accelerating Impact

“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,” Morin said.

When asked if the funding will give Auvik a competitive advantage, Morin said, “Well, it’s up to our team, to turn [the] funding into an advantage.”

“We are confident we can,” he said.

Drew Loucks is a managing director at Great Hill Partners.

“We believe the team is well-positioned to capture a significant portion of the evolving market moving forward,” he said.

Through a single dashboard, Auvik offers automated network discovery, inventory and documentation. It also offers network performance monitoring and troubleshooting, and automated configuration backup and recovery.