Follow The Money: 30 IT Companies That Collectively Raised $850M In Financing

Show Me The Money

The global economy has entered a period of uncertainty, while in the U.S., job growth has slowed and some economists are even mentioning the "R" word. But that's not stopping venture capital firms from providing IT companies with the funding to maintain what for many has been rapid growth.

Nearly $850 million in venture capital has recently flowed to the 30 companies we profile here. While big data and security technology developers continue to lead the pack (accounting for 16 of the startups in this roundup), the companies receiving venture funding vary widely, from developers of customer relationship management, customer support and accounting applications; to IT infrastructure, cloud and application management systems; and startups in network virtualization and storage systems.

Take a look at who was "in the money" this spring.


Headquarters: San Mateo, Calif.

CEO: Dave Mariani

New Funding: $11 million

Round: Series B

Backers: Comcast Ventures, UMC, AME Ventures, Storm Ventures and XSeed Capital.

AtScale develops a platform that provides interactive and multidimensional analysis capabilities on Hadoop using popular business analytics tools such as Tableau, QlikView and Microsoft Excel.

The new financing round brings AtScale's total funding to $20 million. The company said its revenue has grown fivefold since its public launch in May 2015, and its customer roster includes Home Depot, Aetna and Groupon.


Headquarters: Newton, Mass.

CEO: Stephen Baker

New Funding: $31 million

Round: Series E

Backers: Oak Investment Partners, General Electric Pension Trust, Tenth Avenue Holdings and Per-Olaf Soderberg.

Attivio calls itself the "data dexterity company," providing data cataloging, enterprise search and text analytics software that businesses use to discover, access and provision both structured and unstructured big data.

In its most recent fiscal year, Attivio said, license bookings grew 150 percent year over year, while license revenue increased 100 percent, with a customer renewal rate of 95 percent. The new funding brings the company's total financing to $102 million.


Headquarters: New York and Tel Aviv, Israel

CEO: Gil Friedrich

New Funding: $14.9 million

Round: Series A

Backers: Greenfield Cities Holdings, Magma VC and StageOne Ventures.

Avanan offers a cloud security platform that organizations use to protect Amazon Web Services, Box, Google, Office 365 and other Software-as-a-Service and Infrastructure-as-a-Service products using cloud-based security technology from more than 60 vendors including Symantec, Check Point, McAfee, Palo Alto Networks, Sophos and Kaspersky.

Founded in 2014, Avanan has now raised $16.4 million in capital funding.


Headquarters: Kirkland, Wash.

CEO: Geeman Yip

New Funding: $15 million

Round: Series A

Backers: TVC Capital and Tao Capital Partners.

BitTitan is a fast-growing company in the Microsoft universe, developing software that solution providers use to migrate their customers to Microsoft Office365 and Azure cloud systems. The company, which has grown its top-line revenue 50 percent to 100 percent a year in each of the past five years, launched a comprehensive platform for managed service providers in 2015.

Although BitTitan was founded in 2007, this marks the first time the company has accepted funding from outside investors.


Headquarters: Munich

Co-CEO: Alexander Rinke

New Funding: $27.5 million

Round: A Series

Backers: Accel and 83North (formerly Greylock).

Celonis develops a category of big data analytics software called "process mining," which analyzes event data generated by operational systems with the goal of improving IT-driven business processes. Last year the company signed a global reseller agreement with SAP, which offers the software alongside its HANA in-memory database.

Celonis will use the capital to boost its go-to-market operations, as well as further improving the vendor's process mining technology.


Headquarters: Portland, Ore.

CEO: Mat Ellis

New Funding: $24 million

Round: Series B

Backer: Foundry Group Select Fund.

Cloudability develops software tools that businesses use to monitor and manage their cloud computing costs, collecting and analyzing cloud billing and usage data to help them optimize spending for cloud software and infrastructure. The company says it can help businesses save an average of 30 percent on cloud costs in the first six months.

The new round of capital brings Cloudability's total funding to more than $40 million.


Headquarters: San Francisco

CEO: Pablo Brenner

New Funding: $1.3 million

Round: Seed Funding

Backers: Software vendor Globant and Brazilian venture capital firm Fundo Pitanga.

Collokia is developing a machine learning-powered collaboration platform. The technology has been in development and testing since 2014 and is now available to beta customers.

The system is designed to improve collaboration among co-workers by improving their access to information and knowledge. It works by collecting information, identifying patterns and mapping employee decision-making processes to provide better contextual support.


Headquarters: Mountain View, Calif.

CEO: Bob Wiederhold

New Funding: $30 million

Round: Series F

Backers: Sorenson Capital, Accel Partners, Adams Street Partners, Ignition Partners, Mayfield Fund, North Bridge Venture Partners and West Summit.

Couchbase develops its namesake NoSQL database, designed for "digital economy" applications, and purported to be able to scale for handling huge volumes of web, mobile and Internet of Things data that mainstream relational databases cannot.

Wiedersold said the new funding would be used to expand sales and marketing activities and customer technical support. The CEO said the round is likely the last the company will need before becoming cash-flow positive and filing for an initial public offering.

Crimson Hexagon

Headquarters: Boston

CEO: Stephanie Newby

New Funding: $20 million

Round: Series C

Backer: Sageview Capital.

Crimson Hexagon develops software for analyzing data collected from social media. The company's customer base has grown by more than 75 percent, and it has more than 10,000 users working with the platform. Earlier this year the company struck an OEM deal with business intelligence software developer Birst.

The number of collected posts in the company's social data library has surpassed 850 billion and is on course to reach 1 trillion by the end of the year.


Headquarters: Irvine, Calif.

CEO: Stuart McClure

New Funding: $100 million

Round: Series D

Backers: Blackstone Tactical Opportunities, Insight Venture Partners and follow-on investments by existing investors.

Cylance is a rising star in the IT security industry, marketing its CylanceProtect endpoint protection product that uses algorithmic science, artificial intelligence and machine learning to predict and stop malware attacks and advanced threats.

The company will use the additional capital to support its rapidly growing business by expanding sales, marketing and engineering programs that support its go-to-market strategy.


Headquarters: Mountain View, Calif.

CEO: Marc Fleischmann

New Funding: $40 million

Round: Venture Round

Backers: Khosla Ventures, Samsung Ventures and individuals Andy Becholsheim and Pradeep Sindhu.

Datera emerged from stealth at the same time it announced this round of funding, debuting the company's Datera Elastic Data Fabric storage technology for company and service provider cloud systems.

The scale-out storage software, according to the startup, turns standard commodity hardware into a RESTful API-driven, policy-based storage fabric for large-scale cloud systems. The company is particularly focused on applications in DevOps environments.


Headquarters: Sunnyvale, Calif.

CEO: Gene Banman

New Funding: $15 million

Round: Series A

Backers: Pelion Venture Partners, Nautilus Venture Partners and Foxconn's Ingrasys.

Startup DriveScale, which emerged from stealth in May after three years of development, offers composable data center infrastructure systems based on standard servers and commodity storage that can scale up to handle big data processing technologies such as Hadoop.

DriveScale co-developed its products with FoxConn subsidiary Ingrasys, which is also manufacturing the systems.


Headquarters: Mountain View, Calif.

CEO: Gary Myers

New Funding: $25 million

Round: Series C

Backers: Georgian Partners, New Enterprise Associates and FusionOps chairman Prabhu Goel.

FusionOps develops an advanced big data platform and prebuilt supply chain models that make up the FusionOps supply chain intelligence cloud, which businesses use to gain visibility into -- and actionable insights about -- their supply chain operations.

FusionOps said its annual recurring revenue grew 150 percent in 2015 while the number of users of the vendor's service increased by 79 percent.


Headquarters: San Francisco

CEO: Abinash Tripathy

New Funding: $23 million

Round: Series B

Backers: Microsoft Ventures, Salesforce Ventures, Intel Capital, Nexus Venture Partners, True Ventures and Visionnaire Ventures.

Helpshift markets a system that provides built-in customer support for applications on mobile devices. Customers include Zynga, Microsoft, Virgin Media and Western Union. The company's software is installed on 1.3 billion devices.

The new funding brings the company's total financing to $36.2 million.


Headquarters: San Jose, Calif.

CEO: Robert Reid

New Funding: $40 million

Round: Debt Facility

Backer: Silicon Valley Bank.

Intacct markets cloud-based finance and accounting applications. The cloud applications are popular with CPA firms and value-added resellers that provide them to their customers.

In the company's third fiscal quarter, ended March 31, the company reported 34 percent year-over-year growth in new bookings.

Ionic Security

Headquarters: Atlanta

CEO: Adam Ghetti

New Funding: $45 million

Round: Series D

Backers:, Goldman Sachs, Hayman Capital, GV (formerly Google Ventures), Icon Ventures, Kleiner Perkins Caufield & Byers, Meritech Capital Partners and Tech Operators.

Ionic Security develops high-assurance data protection and control systems. The data security platform provides access control, intellectual property monitoring, data encryption and policy management capabilities.

The company has now raised $122 million in financing. The company plans to use the additional capital to expand sales beyond its current Fortune 100 customer base.


Headquarters: Santa Barbara, Calif.

CEO: Kevin McGibben

New Funding: $130 million

Round: Private Equity

Backers: Providence Strategic Growth, the growth equity affiliate of Providence Equity Partners.

LogicMonitor provides end-to-end IT infrastructure monitoring software, delivered on a Software-as-a-Service basis, for monitoring on-premise, cloud and hybrid IT systems. The software is designed to replace legacy and premise-based monitoring systems in complex IT environments.

The company plans to use the additional capital to continue its global expansion.

MapD Technologies

Headquarters: San Francisco

CEO: Todd Mostak

New Funding: $10 million

Round: Series A

Backers: An investment syndicate led by Vanedge Capital with participation from Verizon Ventures and Nvidia Corp., along with GV (formerly Google Ventures).

MapD Technologies markets a next-generation database system that uses graphics processing units that execute SQL queries to be executed in parallel across thousands of cores per server, offering speeds faster than in-memory databases, according to the company. The technology, launched earlier this year, was originally developed at the MIT Computer Science and Artificial Intelligence Lab. The company also offers the MapD Immerse analytics software that helps users develop visual insights into complex datasets.


Headquarters: San Francisco

CEO: Dan Dumitriu

New Funding: $20.4 million

Round: Series B

Backers: Simplex Inc., Innovation Network Corp. of Japan and Midokura director Allen Miner.

Midokura develops the Midokura Enterprise MidoNet network virtualization product, which integrates with cloud platforms such as OpenStack.

The new capital, which brings Midokura's total financing to more than $44 million, will be used to enhance the company's customer support operations, accelerate product development, expand executive and development teams, and develop industry partnerships.


Headquarters: San Mateo, Calif.

CEO: Jacob Shama

New Funding: $15 million

Round: Series D

Backer: Sequoia Capital.

Mintigo's cloud-based business-to-business predictive marketing software and database of 15 million companies and 200 million individuals helps sales and marketing workers increase their sales effectiveness. Founded in 2009, Mintigo says its revenue and platform usage both grew by a factor of 7 in 2015.

Mintigo won the 2015 CODiE Award for best sales and marketing intelligence solution.


Headquarters: San Francisco

CEO: Joris Poort

New Funding: $14 million

Round: Series A

Backers: TransLink Capital, Microsoft Ventures, Jump Capital, Itochu Technology Ventures, Two Roads Group and Data Collective.

Rescale markets cloud-based simulation software and high-performance computing systems. The company's customers include major companies in the automotive, aerospace, life sciences, marine, consumer products and energy industries, the company said.

The latest capital, combined with an earlier seed funding round, brings the company's total financing to $20 million.

Skyport Systems

Headquarters: Mountain View, Calif.

CEO: Art Gilliland

New Funding: $30 million

Round: Series C

Backers: GV (formerly Google Ventures), Cisco Investments, Thomvest Ventures, Northgate Capital, InstantScale, Index Ventures, Sutter Hill Ventures and Intel Capital.

Skyport Systems develops the SkySecure remotely managed platform, which runs critical applications in a secure, private network environment, protecting them from lateral attacks, data theft and unpatched vulnerabilities, the company said.

The new funding brings Skyport's total financing to $67 million. The company will use the new funds to expand its sales and marketing efforts and accelerate product research and development.


Headquarters: Mountain View, Calif.

CEO: Tom Lounibos

New Funding: $30 million

Round: Debt Funding Round

Backers: Tennenbaum Capital, Canaan Venture Partners, Pelion Venture Partners and Formative Ventures.

Soasta is a provider of digital performance management and analytics software used by Internet retailers and other businesses to capture and analyze e-commerce data. The company's customers include Barnes & Noble, FreshDirect, and REI.

Soasta recruited 196 new customers in its fiscal year ending Jan. 31. The company will use the additional funding to restructure existing debt and provide additional growth capital.


Headquarters: Palo Alto, Calif.

CEO: Ajeet Singh

New Funding: $50 million

Round: Series C

Backers: General Catalyst Partners, Geodesic Capital, Lightspeed Ventures and Khosla Ventures.

ThoughtSpot calls itself the leader in "search-drive analytics," providing relational search technology that businesses use to quickly analyze large volumes of on-premise and cloud data and cut their report development backlogs.

ThoughtSpot has now raised more than $90 million in capital financing. It plans to use the new funding to increase its sales and marketing efforts (it doubled its sales team in the first quarter of 2016), continue to expand globally (it opened a U.K. office in January), and expand research and development work.

Threat Stack

Headquarters: Boston

CEO: Brian Ahern

New Funding: $15.3 million

Round: Series B

Backers: Scale Venture Partners, Accomplice and .406 Ventures, plus other existing investors.

Threat Stack offers cloud security and compliance management software. The Threat Stack Cloud Security Platform, launched earlier this year, collects security data across all segments of a cloud system, including security systems, applications and containers, providing a comprehensive view of security across the entire environment.

The new capital will be used to double the vendor's head count in the next year, growing sales, marketing and engineering staffs and expanding product development. The company is also moving to a new Boston headquarters this year.


Headquarters: Seattle

CEO: Michel Feaster

New Funding: $14.5 million

Round: Series B

Backers: Menlo Ventures, Andreessen Horowitz and CRV.

Usermind emerged from stealth earlier this year, debuting its orchestration hub system for business operations teams, which the company said improves collaboration among sales, marketing and finance departments, and combines analysis with action to grow sales and increase customer lifetime value. The company sees its product as a key player in the digital transformation movement.

The new round of capital brings Usermind's total financing to $22.1 million. The company plans to use the funding to expand sales and marketing initiatives and accelerate product research and development.


Headquarters: Palo Alto, Calif.

CEO: Ajay Arora

New Funding: $21 million

Round: Series B

Backers: Capital One Growth Ventures, Sutter Hill Ventures, Battery Ventures and Amplify Partners.

Vera develops encryption and data protection technology that organizations use to secure and track confidential data across multiple platforms and devices, allowing collaborators to access, edit, store and share information -- and managers to revoke access to data when necessary.

In March, the company launched what it called the industry's first Software-as-a-Service information rights management, or "IRM-as-a-Service," platform, which businesses use to build encryption, tracking, policy management and access control into third-party and customer business applications.


Headquarters: Sunnyvale, Calif., and Tel Aviv, Israel

CEO: Itay Glick

New Funding: $4 million

Round: Series A

Backers: Redfield Asset Management

Votiro develops IT security technology that disarms threats in files attached to incoming email, removing active code from all attachments and preventing zero-day exploits from penetrating an organization's network, the company said.


Headquarters: Boston

CEO: Mark Gally

New Funding: $8 million

Round: Venture Round

Backers: Underscore.VC, Leaders Fund and Matrix Partners.

Zaius develops CRM applications specifically designed for business-to-consumer marketers. The applications combine all customer interaction data into a single system, helping marketers understand revenue drivers and maximize customer lifetime value.


Headquarters: San Francisco

CEO: Shridhar Mittal

New Funding: $25 million

Round: Series C

Backers: Warburg Pincus, Sierra Ventures, Telstra Ventures and Lazarus Israel Opportunities Fund LLLP.

Zimperium develops the Mobile Threat Protection suite, a mobile threat management platform that provides continuous, real-time protection for mobile devices and applications against known and unknown mobile cyberattacks, the company said.

Zimperium plans to use the new funding to expand its global sales and marketing efforts and grow its mobile partner ecosystem. The company also will invest in adding new capabilities to the Mobile Threat Protection software.