News & Events: Announcements

Netuitive Secures $8 Million in Financing to Accelerate Market Expansion

Self-Learning Performance Management Software Company to Expand U.S. Presence and Start European Operations

Reston, VA – April 3, 2007 – Netuitive, Inc., the leading provider of self-learning performance management software, today announced that the company has secured an additional $8 Million in financing. This new round of funding, led by MK Capital, will be used to expand Netuitive's sales operations and accelerate market presence in the US and Europe.

“We believe Netuitive has all of the right pieces in place - unique and powerful technology, seasoned management team and proven products - to be a 100 million dollar company,” stated Bret Maxwell, general partner at MK Capital. “We’re helping the company reach this great height by giving it the needed support to expand its team and presence both domestically and abroad. Soon companies worldwide will understand how Netuitive’s products can dramatically reduce costs and increase productivity. We are absolutely thrilled to add this innovative company to our portfolio.”

Netuitive has experienced tremendous momentum in the last year - growing revenues by 400%, adding more than 50 new customers, shipping the enterprise edition of its Netuitive Service Analyzer product and delivering the first self-learning performance management system for VMware. The company has also received numerous accolades during this time including, being named a “Cool Vendor” in IT Operations by Gartner Inc, listed as one of the companies “crashing the gates” in 2007 for IT Service Orchestration by Yankee Group and named a CODiE Award finalist for best new Systems Management solution.

“Since shipping the first release of Netuitive’s solution, we have been focused on improving and expanding our product line in order to provide the market with the most comprehensive self-learning performance management solutions available,” stated Nicola Sanna, CEO and president of Netuitive. “Now that we have laid the foundation for our business, with our products deployed in over 170 companies, it's time for broader market penetration.”

This strong momentum has lead to a dramatic increase in customer demand both in the US and abroad. The new round of financing will immediately be applied toward increasing its US sales presence and for opening its European base of operations in London.

Netuitive’s existing investors, Bessemer Venture Partners, Columbia Capital, Flagship Ventures, and Noro-Moseley Partners and Thomas Weisel Venture Partners also participated in this round.

Built on eight patented technologies and techniques resulting from more than 15 years of academic and commercial research, Netuitive’s Real-Time Analysis Engine provides the underlying technology for Netuitive SI and Netuitive Service Analyzer. Completely self-learning, self-configuring, and continuously adaptive, this unique technology performs sophisticated statistical trends analysis and multi-variable correlation to automatically determine normal system behavior, measure and predict deviations from the norm, and interpret symptoms for proper alerting and diagnosis. When the software detects or forecasts behavior outside that range, Trusted Alarms® are issued — the industry’s most accurate and reliable indicators of impending performance problems.

About Netuitive, Inc.
Netuitive is the leading provider of self-learning performance management software. Based on nine patented technologies resulting from 20 years of academic and commercial research and development, Netuitive products replace human guesswork with automated mathematics and analysis to improve performance of systems, business services and virtual infrastructures. Hundreds of customers such as BlueCross BlueShield, AT&T, and the U.S. Air Force have discovered that Netuitive software leverages existing monitoring systems and delivers return on investment in as little as two months. Netuitive has received many industry accolades, including the 2010 CODiE Award for “Best Systems Management Solution” and 2009 “Best of VMworld” Award for Virtualization Management. For more information, visit www.netuitive.com.