Waterloo, Ontario-based Auvik, a provider of cloud-based network management software, has secured a $250 million investment from Great Hill Partners. Founded in 2011 by Marc Morin, Alex Hoff and David Yach, Auvik has raised funding from venture capital firms like BDC Capital, Celtic House Venture Partners, Openview Venture Partners and Rho Capital Partners. The company said Celtic House will remain an investor.
WATERLOO, Ontario & BOSTON–(BUSINESS WIRE)–Auvik, an award-winning provider of cloud-based network management software, today announced that it has secured a US$250 million investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive businesses. The investment is expected to accelerate Auvik’s mission by funding product development, segment expansion, geographic reach, and other strategic growth initiatives.
Auvik makes complex, yet essential, network management simple by providing the visibility and automation IT professionals need to focus on the work that delivers the greatest value to their organization. Today, Auvik’s software helps IT teams manage more than four million devices on over 50,000 networks.
“Network management should be easier. That has been Auvik’s rallying cry since 2011 when we set out on a quest to give IT professionals, and the organizations they support, something better – something faster and easier,” said Marc Morin, CEO of Auvik Networks. “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.”
“Auvik has a truly innovative approach to ITOps and has developed powerful software that IT teams not only enjoy using, but is essential to their operations,” said Drew Loucks, a Managing Director at Great Hill Partners. “We have been very impressed with the company’s customer satisfaction rating and reputation and we believe the team is well positioned to capture a significant portion of the evolving market moving forward.”
Auvik was founded by Marc Morin, Alex Hoff, and David Yach. The company has been recognized as the #1 ranked Canadian company in the FT Americas’ Fastest Growing Companies, and is a winner of the Deloitte Technology Fast 50TM and Deloitte Technology Fast 500TM for two consecutive years.
AQ Technology Partners served as financial advisor and Dentons Canada LLP served as legal counsel to Auvik. Choate, Hall & Stewart LLP and Blake, Cassels & Graydon LLP served as legal counsel to Great Hill Partners.
About Auvik Networks
Auvik’s cloud-based network management software keeps IT networks around the world running optimally. By automating and simplifying network management, Auvik helps rocket an IT team’s efficiency and capacity, while protecting the business from network risk. Auvik is one of the fastest growing North American technology companies, and is winner of the Deloitte Technology Fast 50, Deloitte Fast 500, and recognized as the #1 ranked Canadian company in the FT Americas’ Fastest Growing Companies 2020. Visit www.auvik.com or follow @AuvikNetworks on Twitter. Auvik is a registered trademark of Auvik Networks Inc.