SAN JOSE, Calif., Oct. 02, 2017 (GLOBE NEWSWIRE) -- OpsRamp, the enterprise IT management platform built for hybrid environments, announced the close of $20 million in funding from Sapphire Ventures, which funds category-leading growth technology companies. OpsRamp will use the investment to double down on its vision of disrupting the IT management market with a new age platform for managing a dynamic and distributed IT environment.
This funding, the first for the company, comes after the close of a successful 2016 which brought the total number of organizations using OpsRamp to 1,400. The company’s success to date has come from organic growth, a robust partner ecosystem and intuitive technology that finally helps companies manage their entire IT estate in a single platform.
OpsRamp will use the funding to further develop its innovative SaaS platform, grow the customer base and build out a strong channel partner network. The announcement comes at a particularly important moment, as enterprises and service providers grapple with the challenge of managing hybrid workloads with limited resources.
“When we founded OpsRamp, we knew enterprise IT teams were struggling to serve their business units while handling the challenges of cloud adoption, migration and management,” said Varma Kunaparaju, co-founder and CEO. “Our funding gives us the ability to deliver an integrated platform for IT teams to manage more workloads with less work.”
While current IT tools only handle specific application and infrastructure silos, OpsRamp delivers hybrid IT management in a single solution. The platform multiplies the capabilities and efficiencies of IT teams and delivers end-to-end visibility for all IT services wherever they reside.
“As enterprises continue to move to the cloud, OpsRamp offers a highly differentiated approach that enables enterprise IT to navigate the challenges between on-premises and cloud-based IT services," said Nino Marakovic, CEO and Managing Director of Sapphire Ventures. “We’re excited to partner with the OpsRamp team and bring our network, expertise and capital to help them reach the next phase of growth.”
As enterprises combine traditional and agile workloads, the need for a hybrid management solution has never been greater. OpsRamp already counts enterprises like Dolby, Epsilon, KAR Auction Services and Bio-Rad as clients, and has an expanding portfolio of partners like 2nd Watch, GreenPages, NetEnrich, NTT Data and more.
"Disruptive technologies like cloud, containers, microservices and serverless have transformed the IT management landscape. Many enterprises need a platform like OpsRamp that delivers a complete picture of mission critical IT services deployed across traditional and modern workloads,” said William Fellows, VP of research at 451 Research.
About OpsRamp
OpsRamp enables IT to manage more workloads with less work. Keeping critical business systems running can be easy, and automating manual work becomes the norm. Our cloud platform creates a central hub that all IT teams - from operations to service management and everyone in between - use to manage today’s complex hybrid computing environment.
Built for enterprise IT and service providers, OpsRamp delivers the “killer app” for end-to-end IT management. Hundreds of organizations like Dolby, Epsilon, KAR Auction Services and Bio-Rad rely on OpsRamp to gain more visibility and control of their entire hybrid IT ecosystem. For more information, visit: www.OpsRamp.com.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With over $2.4 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage. Find us in Palo Alto and at www.sapphireventures.com. Follow us @sapphirevc.
Media contact:
Kevin Wolf
TGPR
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kevin@tgprllc.com