Nexthink has announced a $180 million Series D financing round reaching a valuation of $1.1 billion. Permira, through its Growth Opportunities Fund, led a $180 million Series D round alongside existing investors including Highland Europe and Index Ventures. In addition to the investment, the company has announced that Bruce Chizen, former CEO of Adobe and senior advisor at Permira, will join its board of directors. The latest round will be used to accelerate Nexthink’s innovation, rapid growth and expansion, particularly in the US.
“The rise in remote working has dramatically accelerated the need for Digital Employee Experience, as a big part of all the interactions that employees have with companies are now digital,” said Pedro Bados, CEO and Co-founder of Nexthink. “We see a huge opportunity ahead of us to redefine the future way in which companies will provide digital workplaces to their workforce. Bruce is a terrific addition to the team. At Adobe he transformed the way people work by providing delightful experiences to millions of software users. Now we can do the same with the employees of thousands of companies around the world.”
“Nexthink has seen outstanding growth in recent years,” said Bruce Chizen, Senior Advisor for Permira. “With the move to remote and hybrid digital workplaces, digital experience is everything in the enterprise and it is a critical component to employee satisfaction. With this latest round, Nexthink is poised to reimagine the role of IT for the world’s largest brands and give them the platform they need to deliver the best experiences at work.”
Nexthink provides the most complete digital experience management platform to IT teams to discover, monitor and proactively improve the digital services they provide to their employees.
Nexthink’s award winning platform provides IT with a cloud-native solution that enables unprecedented insight into employees’ daily experiences of technology at the device, application and network level. The solution’s unique event-level visibility and advanced visualizations make troubleshooting dramatically easier, empowering IT teams to continuously improve employees’ digital experiences, solving problems in minutes instead of days.
The company is now close to 700 employees and plans to reach 900 by the end of 2021, hiring in all major locations in Europe, Middle East and the US. During 2020 Nexthink has continued its hyper growth crossing the $100M ARR, adding 180 customers and reaching 1,000 worldwide including 200 of the Global 2000 and a total of 11M employees.
In 2020, Nexthink released major innovations in the market including the most complete Remote Worker experience solution, Experience Optimization for proactive support teams, additional virtualization capabilities and Persona Insight. In October, Nexthink was recognized as a leader in End User Experience Management in the Forrester New Wave: End-User Experience Management, Q4 2020.
Permira funds’ investment was made through the Growth Opportunities Fund I, which focuses on minority investments in growth-focused businesses. The Permira funds have a strong track record of investing in technology, including investments in: TeamViewer, a leading global provider of secure remote connectivity solutions; Mirakl, a marketplace SaaS platform that empowers B2B and B2C organisations to launch and grow an enterprise marketplace at scale; Zwift, the global online fitness platform for cyclists and runners; and, Klarna, the leading innovative payments company.
This transaction is scheduled to close in Q1.
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