ControlUp Secures $100M Funding, Co-Led By K1, JVP

Israeli-founded firm ControlUp, which leverages AI to help IT teams troubleshoot and remediate problems with on-premise, hybrid, and cloud infrastructure, has raised $100 million to help drive innovation and partnerships, and provide people with the flexibility to work from anywhere.

K1 Investment Management and JVP co-led this latest funding round.

The sum raised takes ControlUp’s total funding to more than $140 million to date.

“This injection of capital will accelerate our ability to help more enterprises open the door to the limitless possibilities of a simpler, more reliable work-from-anywhere experience,” said Asaf Ganot, CEO and Co-Founder at ControlUp. “We give IT real-time visibility into system status, with the ability to resolve help desk calls faster, and even handle potential system issues before they happen. All this translates to fewer headaches, lower costs, higher productivity, and happier people,” he added.

ControlUp has developed its business at a time, when post-COVID-19, people are demanding better remote working options. A company statement said that “managers and team members see increased productivity, improved work satisfaction, and meaningful reductions in attrition rates when they have the freedom to work the way they want.” The firm says that it can leverage advanced AI and ML technology to solve problems and handle potential issues, even before they occur.

“In the post-COVID-19 era, IT managers of large organizations have the unique challenge of monitoring the performance of the network for each of their employees in the office, at home or in any other remote location,” said Erel Margalit, Founder and Chairman of JVP. “ControlUp provides a deep analysis of mission critical applications —for every employee — highlighting problems and finding remedies to solve them. The company’s dashboard enables IT managers to monitor, assess and improve the productivity for all the employees in the company.”

Since launching in 2014, ControlUp has supported business continuity for thousands of enterprises. The company is headquartered in New York with R&D in Israel. Over the past year, it has seen 50-percent revenue growth and 67 percent growth in enterprise accounts, as well as more than 1 million new seats deployed around the world.

“We continue to see a significant shift toward work-from-anywhere across all industries,” said Roy Liao, Senior Vice President at K1. “K1 is proud to partner with ControlUp as it continues to innovate and change the landscape of the digital employee experience market. By focusing on making the employee experience simpler, faster, and more cost-effective, ControlUp provides a unique value proposition that no other vendor fills.”