Auvik Networks Raises $20 Million in Series C Financing
Company’s significant growth leads to third round of funding
WATERLOO, ON / May 15, 2018 — Auvik Networks, a provider of network monitoring and management software for managed service providers (MSPs), has raised CAD$20 million in Series C financing led by existing investor OpenView, with participation from return investors Celtic House Venture Partners and Rho Canada Ventures.
“The Auvik team has more than executed against plan since we made our initial investment in the company last August,” said Ricky Pelletier, Partner at OpenView and Auvik board member. “It’s been clear since then that with increased network reliance and complexity, the need for a product like Auvik has never been more critical. We are thrilled to double down to help Auvik ensure that no MSP is left in the dark again.”
Auvik’s cloud-based software gives MSPs unprecedented insight into client networks and automates complex and time-consuming tasks. With enhanced visibility and control over network infrastructure like switches, routers, and firewalls, MSPs can scale their services efficiently and profitably.
“This Series C financing is a huge vote of confidence from our investment partners,” said Marc Morin, CEO of Auvik Networks. “Auvik is providing industry-leading network management software for MSPs, and the funding will enable us to further accelerate our efforts and support an ever-growing number of MSP partners.”
In the past year, the network management software company has grown rapidly, more than doubling its partner base and employee headcount. Most recently, Auvik was named Most Valuable Software at the Channelnomics MSP Awards.
Tom Valis, partner at Celtic House said, “The Auvik team has used leading expertise in networking to build a cloud-based product that transforms the capabilities of MSPs. This round of financing will support the company’s continued exceptional growth.”
Sean Brownlee, partner at Rho Canada Ventures, also referenced Auvik’s track record of strong growth and innovation. “Auvik has developed a stellar reputation within the MSP space, as demonstrated by the staggering uptick in partner growth this past year. We’re looking forward to playing a continued role in the Auvik journey.”