Canadian software company Embotics Corp has secured $12.1 million in growth funding from Arrowroot Capital, a U.S. growth equity firm. Founded in 2006, Ottawa-based Embotics offers a multi-cloud management platform for enterprise information technology and managed service providers that allows them to automate and control their virtualized and cloud environments. It plans to use the funds raised to drive expansion through increased investment in sales and marketing initiatives as well as product development. Embotics has previously raised financing from Canadian investors, including Covington Funds and VentureLink.
PRESS RELEASE
Embotics Raises Growth Funding led by Arrowroot Capital
Ottawa, Canada — June 7, 2016– Embotics, a leading provider of multi-cloud management software for public and private cloud environments, announces that Arrowroot Capital has invested $12.1 million of growth capital in the business. Embotics will use the funds to drive customer acquisition and expansion through increased investment in sales and marketing initiatives as well as product development.
“We are thrilled to partner with Arrowroot to support our objective of creating the world’s leading cloud management software company,” said Michael L. Torto, CEO of Embotics. “We continue to execute on our company’s mission of delivering the easiest and most powerful multi-cloud management solutions while driving down operational costs and providing intelligent IT automation and controls for our customers. The investment capital comes at a perfect time to help us step on the gas and speed our growth.”
This growth equity investment adds to a series of recent company milestones. Embotics has achieved record annual sales, opened a U.S. headquarters in Boston, and was recognized as a Gartner “Cool Vendor” in Cloud Management. Many high-profile companies, such as Nordstrom, NASA, Fanatics, Informatica and Charter Communications, have recently been added to the customer roster.
“We see a massive and rapidly growing market opportunity in delivering vendor-neutral multi-cloud management solutions that enable business agility, IT governance and intelligent automation,” said Matthew Safaii, Managing Partner of Arrowroot Capital. “Operating in this space puts Embotics at the convergence of today’s most critical IT infrastructure and operations forces – virtualization and cloud service orchestration, DevOps enablement, and resource optimization.”
“We’re excited to partner with Embotics because of the company’s momentum, the experienced leadership team and the tremendous growth opportunities in the expansive multi-cloud management market. Embotics has a distinct competitive advantage in delivering a vendor-neutral cloud management platform with the industry’s fastest time to value,” said Kareem El Sawy, Partner at Arrowroot Capital.
Supporting Resources
Embotics Website
Embotics vCommander Overview
Gartner Cool Vendors in Cloud Management Report
Gartner Cloud Management Market Guide
About Embotics
Embotics delivers an easy and powerful multi-cloud management platform for enterprise IT and managed service providers to automate and control their virtualized and cloud environments. Embotics vCommander seamlessly integrates into any private, public or hybrid infrastructure to empower enterprises and service providers to deliver ITaaS, intelligent automation and enhanced IT governance and control, without locking them into a single platform. For more information, visit http://www.embotics.com.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica focused on growing and mature recurring-revenue software businesses. We seek to partner with management to accelerate growth and help guide the company to its ultimate exit. Arrowroot targets equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities. Learn more at http://www.arrowrootcapital.com.
Media Contacts:
Margaret Menotti
margaret@kelandpartners.com
617.904.9393 x 129
Dan Murphy
dmurphy@embotics.com
877-599-0494
Photo courtesy of Covington Funds
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