Numerify is a company that provides IT business analytics powered by artificial intelligence. And the company has announced this week that it has raised $27.5 million in funding led by DAG Ventures. Existing investors including Lightspeed Venture Partners, Sequoia Capital, and Tenaya Capital also participated in this round. In conjunction with this funding round, DAG managing partner Nick Pianim has joined Numerify’s board of directors.
With this round of funding, Numerify plans to grow its enterprise customer footprint. And the company is planning to accelerate the introduction of new analytic solutions that embed AI and machine learning technologies. Plus Numerify has more than doubled its software subscription bookings and expanded its enterprise customer list to include top 5 companies in 11 verticals.
“Numerify has emerged as a leader in the IT Business Analytics space by delivering a complete solution suite that our customers can use to run a high-performance IT organization,” said Numerify co-founder and CEO Gaurav Rewari. “Our vision is that through a full fleet of targeted and interconnected applications spanning all of IT’s plan, build, and run activities and the key source systems that underpin them, Numerify will deliver to data-driven IT leaders the same powerful and transformational business analytics that their peers in sales, marketing, and finance enjoy. This round of funding will help us achieve that vision.”
Numerify’s AI-powered analytics platform spans across people, processes, and project data. And its System of Intelligence platform enables IT leaders to improve application health, reduce service costs, and optimize resource usage. And Numerify was founded by industry veterans who worked at Oracle, Microstrategy, and Hyperion. Some of Numerify’s other investors include Silicon Valley Bank and Four Rivers Group.