ObserveIT raises USD20m from Bain Capital Ventures
ObserveIT, a provider of user activity recording and auditing software, has raised USD20m from Bain Capital Ventures.
Growing over 3,500 per cent in the past five years, ObserveIT’s solution is used at more than 800 corporations in 70+ countries.
ObserveIT will use the funding to expand US headquarters and overall product development, sales and marketing.
ObserveIT is the only provider of the complete visual log via a software-only solution and provides a comprehensive monitoring and insight into user activity that enables its customers to solve compliance, security and IT operational problems.
“Customers are finding that ObserveIT is the only solution that provides complete information of ‘who-did-what’ enabling full compliance, stronger security, and quick resolution of IT operational issues,” says Ben Holzman, managing director of Bain Capital Ventures. “In particular, customers noted that ObserveIT’s video playback provides context enabling speedy issue resolution and deep insight into user activity.”
“ObserveIT helps customers protect sensitive data, comply with government regulations and achieve peace-of-mind about how data is being used, accessed and managed,” says Gabriel Friedlander, chief technology officer and co-founder of ObserveIT. “The significant investment from Bain Capital Ventures will help us reach broader audiences and additional industries, enabling us to offer the same level of security and peace-of-mind to a much wider marketplace.”
ObserveIT has over 800 customers from an array of industries including financial services, manufacturing, telecommunications, government and gaming. Customers include such name brands as GE Money, ING, Toshiba, Xerox, Coca-Cola, Samsung, T-Mobile, Vodafone, UPS, Fujitsu and Cisco.
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