LogicMonitor, a Santa Barbara, CA-based IT infrastructure monitoring platform, received a $130m growth investment.
Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm with $45 billion in assets under management, provided the resources. In conjunction with the funding, Thomas Reardon, Managing Director at Providence Strategic Growth, will join LogicMonitor’s Board of Directors.
The company intends to use the funds to continue global market expansion.
Led by Kevin McGibben, CEO, LogicMonitor provides a Software-as-a-Service (SaaS)-based IT performance monitoring platform that provides visibility and actionable data needed to manage on-premise, hybrid, and cloud infrastructures. It allows IT teams to deploy and monitor their infrastructures and act on performance data using its dashboards, forecasting, and reporting. Built-in workflow capabilities include alert routing and escalation management.
The platform is currently used by web commerce and enterprise companies, including JetBlue, Trulia, Citrix, SPS Commerce, Fastenal, Zendesk, Pacific Life, and National Geographic as well as service provider companies, including Teklinks, mindSHIFT, iVision, CWPS, and ANS Group.
FinSMEs
16/06/2016