Numerify, which applies Big Data analytics to IT infrastructure management, announced a $15 million Series B funding round, led by Sequoia Capital, with existing investor Lightspeed Venture Partners also participating.
After launching Numerify360, its turnkey IT offering, earlier this year, the company is sticking to a focus on the niche market of Big Data executives in an industry with plenty of competition big and small.
Numerify aims to provide business analytics tools for those running the business of IT. Its entire stack runs in the cloud.
Numerify says it wants to replace costly custom analytics solutions with Numerify360 providing a single view of customers' IT business. The company says it is already working with more than a dozen enterprises, including Netflix, University of San Francisco, Incomm and Spansion.
“Most IT executives are ‘flying blind’ when it comes to understanding the financial and operational dimensions of their service delivery, and they don’t usually have the money, time, or talent to invest in the type of analytics solution needed to effectively run IT like a business,” said Doug Leone, partner at Sequoia Capital who has now joined Numerify's board of directors. “Numerify’s IT Business Analytics application solves this problem beautifully–with the entire stack in the cloud–making it fast and easy for customers to arrive at precise and actionable insights.”
Numerify said that the new funding will help expand sales and marketing efforts, as well as fill out its suite of cloud analytics applications.
The company has raised $23 million in two rounds since it was founded in 2012. Other investors include 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.