SevOne announces completion of $50m financing round

SevOne has announced a $50 million Series C financing round led by Westfield Capital Management and Bain Capital Ventures. Brookside Capital, HarbourVest, VT Technology Ventures and Osage Venture Partners also participated in this round.

SevOne will use the financing to accelerate its growth through new technologies and markets, meeting the growing demands of organisations transforming their business for the always-on mobile economy and the Internet of Things (IoT).

“We are thrilled to invest in SevOne and help them continue on their rapid growth trajectory,” said Will Muggia, the chief executive of Westfield Capital Management. “We believe their massively scalable data aggregation platform, which is being used by the world’s largest enterprises and service providers, is highly differentiated and disruptive to the digital infrastructure management market.”

Bain Capital Ventures originally invested in SevOne in 2012. That funding fueled the expansion of the company’s alliance network and product ecosystem to support the customer journey to new mobile technologies, such as LTE, and the rapid adoption of virtualisation technologies such as software-defined networks (SDN), network functions virtualisation (NFV), and software-defined data centres (SDDC).

“SevOne’s patented architecture is transforming the way the world’s largest enterprises and service providers are managing their digital infrastructure,” said Ben Nye, managing director at Bain Capital Ventures. “The company’s rapid growth is driven by forward-thinking companies needing to collect all the data across their end-to-end digital infrastructure in support of mission-critical services.”

SevOne continues to invest in its Delaware roots, constructing a 48,000 square foot research and development centre on the University of Delaware’s Science, Technology and Advanced Research (STAR) Campus in Newark, Delaware. The STAR campus facility opens in October, and will build upon the company’s vision of developing next-generation technologies and pushing the boundaries of digital infrastructure management for SevOne customers.

 

“The opportunities and challenges of managing digital infrastructures have never been greater,” said Jack Sweeney, the chief executive of SevOne. “SevOne is uniquely positioned to capitalise upon this demand, allowing the world’s largest datacenter and network operators to unlock the true business potential of their digital infrastructure.”

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