Posting Its 6th Consecutive Year of Record Revenues, SevOne Receives $150 Million Investment From Bain Capital
(Marketwire Via Acquire Media NewsEdge) WILMINGTON, DE -- (Marketwire) -- 01/15/13 --
SevOne, creator of market leading IT infrastructure management solutions, today announced that it closed 2012 with its 6th consecutive year of record financial results. The company's results were driven by existing customers adding more elements to manage their burgeoning networks as well as adding a record number of new customers. Based on this success, leading business software investor Bain Capital invested $150 million in the company.
"SevOne is the only solution that enables its customers to see all services in real-time within global distributed networks of any scale. The world's largest and most sophisticated customers choose SevOne for its fast time to value and unique peer to peer architecture that scales to address big data network growth," said Ben Nye, Managing Director at Bain Capital Ventures.
"We were attracted by the incredibly high satisfaction levels of SevOne's customers, the unique differentiation of their technology, and the talented management team. We look forward to partnering with the SevOne team to maintain their growth and accelerate their go to market operations," added Ben Holzman, Partner, Bain Capital Ventures.
SevOne provides a highly scalable, easy to deploy IT monitoring and reporting solution that provides high levels of visibility for enterprises, service providers or any entity dealing with challenges around network latency, new service rollout, business interruptions and increasing volume of data on their networks. SevOne's IT Performance Appliances scale cost-effectively without limitation or performance degradation so customers, for the first time, can monitor and manage any IT infrastructure, no matter how massive or complex.
"SevOne is thrilled to partner with Bain Capital as we take the company to the next level," said Mike Phelan, CEO, SevOne. "The investment caps a highly successful 2012 for SevOne. Our bookings doubled year over year, profitability increased significantly and our customer base doubled."
Pacific Crest Securities served as financial advisor to SevOne in this transaction.
SevOne, Inc. delivers the industry's fastest, most scalable, and comprehensive real-time IT infrastructure monitoring, troubleshooting and performance reporting solution. SevOne invented a proprietary, next-generation distributed technology, called the SevOne Cluster™, that combines the cutting edge principles behind peer-to-peer sharing and big data analytics to scale smoothly so that millions of IT elements, across all monitoring technologies, can be managed and provide a single view to the user. Hundreds of customers, including the top cable companies, wireless network and managed service providers, and top financial services institutions rely on SevOne to reduce operating expenses and improve quality of service. SevOne was recently named the 75th fastest growing company in North America on Deloitte's 2012 Technology Fast 500 rankings.
About Bain CapitalBain Capital, LLC (www.baincapital.com) is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity, high-yield assets and mezzanine capital with approximately $67 billion in assets under management. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 450 companies in a variety of industries around the world. Bain Capital Ventures (www.baincapitalventures.com) manages over $2 billion of assets and has over 70 active portfolio companies. Bain has a long history of investing in branded technology and business service companies, such as Solarwinds (NYSE: SWI), AppAssure Software, Archer Technologies, Network Intelligence, dynaTrace Software, LinkedIn (NYSE: LNKD), SurveyMonkey, Taleo, and DoubleClick. The firm has offices in Boston, Palo Alto, New York, Chicago, London, Munich, Tokyo, Shanghai, Hong Kong and Mumbai.
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Source: SevOne, Inc.
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