Numerify Raises $15M in Venture Capital for Cloud-based Business Analytics

Numerify on Wednesday said it has raised $15 million in funding to continue building out its cloud-based business analytics product portfolio.

Sequoia Capital led the Series B financing round, with participation from Lightspeed Venture Partners; Amit Singh, president of Google for Work; Deep Nishar, senior vice president of products and user experience at LinkedIn; and Lane Bess, former CEO of Palo Alto Networks.

The Cupertino, California-based company provides IT business analytics through Numerify360, its cloud-native platform that assists organizations with gaining visibility into IT assets through each stage of their productive use.

Numerify said it will use the additional funds to expand its marketing sales and efforts, as it seeks to double the size of the company in the next year. It also plans to fill out its suite of cloud analytics applications.

Gaurav Rewari, co-founder and CEO of Numerify, told Talkin’ Cloud that the company’s “funding needs are met for the foreseeable future.” Numerify has raised a total of $23 million since 2013.

“We set ourselves apart in that we have created a fully integrated IT business analytics solution in the cloud that can be deployed in a matter of weeks, versus months or years,” he said. “Additionally, the application generates prepackaged reports that give customers a single, holistic view of how to improve IT business operations, including the cost and quality of their service delivery.”

In addition to the funding news, Doug Leone, who has been a partner at Sequoia Capital since 1993, will join Numerify’s board of directors. He sits on several company boards, including Birst, CafePress.com, Hayneedle, Medallia, MedExpress, RingCentral, ServiceNow and ZirMed.

“By pinpointing what is working well in your organization, and where there are opportunities to improve, Numerify360 gives IT leaders the insights that they need to optimize service delivery, saving time and money while improving productivity and collaboration within an organization,” Rewari said.

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