Atera said it would use the funds to drive global expansion and develop new products for its cloud-based platform
IT management company Atera has announced its latest round of funding.
The company focuses on enabling remote work, with its platform combining a remote monitoring and management solution with helpdesk, reporting, and operations management in a single location. That in turn helps IT teams to act proactively rather than reactively to user issues.
The company’s latest $77mn Series B round was led by General Atlantic, with participation from K1 Investment Management, and valued the company at $500mn. That brings the company’s total funding to date to over $100mn.
Atera said it would use the funds to drive global expansion and develop new products for its cloud-based platform, having experienced rapid growth in the past year with the acquisition of a total 7,000 customers worldwide.
“The global ecosystem has changed, and the need for the fast and easy deployment of IT services is more critical than ever to keep businesses running smoothly,” said Gil Pekelman, CEO and Founder of Atera.
“To meet this new reality, we are investing even more into our research, development, and innovation efforts to enhance and accelerate the product offerings and features our customers need most. We are dedicated to upgrading our platform both to better serve our customers but to likewise provide them with the ability to seamlessly scale their business and IT management offerings, friction-free.”
The company attributed its success in part to the shifting business landscape caused by the ongoing COVID-19 pandemic and the pivot to remote working it has engendered.
“Atera has developed a compelling all-in-one platform that provides immense value for its customer base, and we are thrilled to be supporting the company in this important moment of its growth trajectory,” said Alex Crisses, Managing Director, Global Head of New Investment Sourcing and Co-Head of Emerging Growth at General Atlantic.
“We are excited to work with a category-defining Israeli company, extending General Atlantic’s presence in the country’s cutting-edge technology sector and marking our fifth investment in the region. We look forward to partnering with Gil, Oshri (CTO and Co-Founder), and the Atera team to help the company realise its vision.”