Cloud based business analytics provider, Numerify, partnered with Sequoia Capital to net $15 million in Series B funding round, bringing the financing to date to more than $23 million.

The round saw participation from Lightspeed Venture Partners, which was responsible for the Series A round of $8.25M, and other investors like Amit Singh, president of Google for Work, Deep Nishar, senior vice president of products & user experience at LinkedIn, and Lane Bess, former CEO of Palo Alto Networks.

“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 and now a board member at Numerify’s board of directors.

Leone further explains, “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.”

The Startup intends to use the finances to improve sales and marketing strategies. Launched in April, Numerify’s client list includes more than a dozen enterprises such as Netflix, University of San Francisco, Incomm, and Spansion.

Numerify’s IT Business Analytics Platform delivers rapid insights to IT Leaders while their cloud applications provide IT executives the context and analytics capabilities they need to achieve a single view of their IT business. Deployed in days or weeks, instead of months or years, customers gain instant visibility and deep insights on how to improve IT business operations from the accumulated history of their IT service records, IT asset data, and related HR, financials, and procurement data, reports a Numerify press release.

Source: VentureBeat


(Image Credit: Numerify)

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