ControlUp raises $100 million for remote work administration platform

The Israeli company’s system provides with each other a various established of true-time metrics across mission-essential SaaS apps

Meir Orbach16:0010.11.21

ControlUp, which has made a remote do the job natural environment management system, introduced on Wednesday that it has concluded a $100 million funding round, co-led by K1 Financial investment Administration and JVP. The round contains a important secondary ingredient in which shares will be obtained from enterprise personnel and executives. ControlUp CEO and co-founder Asaf Ganot instructed Calcalist that ControlUp is continue to not a unicorn, but that it isn’t considerably off. “We chose to increase cash now at a valuation which delivers us quite close to being a unicorn rather than wait around a few months when we will be a unicorn,” Ganot stated. “We’ll have a pretty considerable valuation in our following round or we’ll have already gone general public.” &#13


ControlUp’s remote do the job surroundings platform provides with each other a varied set of true-time metrics across mission-critical SaaS programs, giving IT teams with a 360-degree look at of their full electronic worker working experience. &#13



ControlUp co-founders Yoni Avital (ideal) and Asaf Ganot. Photo: David Garb



“We will use aspect of the funds to make further acquisitions following already getting 1 organization which proved to be incredibly productive,” defined Ganot. “The two money resolved to put down the cash themselves rather than deliver in new buyers, even however there was a lot of interest. We selected to go with them for the reason that they have supported us for many years and gave us a superior valuation, which spared us a headache.” &#13


ControlUp at the moment employs 260 persons, 170 of them in Israel. Ganot states it will insert one more 150 personnel by the conclude of 2022. “We have really substantial progress with an acceleration in revenue as the complete work market has adjusted, with every person adopting the hybrid model,” said Ganot. “In buy for an employee to do the job with all his tools he necessitates methods and we are the company that allows corporations to run.” &#13


ControlUp explained that its products is applied by the major enterprises to assist their hybrid workforces which includes 4 of the top five U.S. health insurance plan companies, 5 of the top eight U.S. health care businesses, and 4 of the top rated 6 world telco organizations. This earlier calendar year, ControlUp has noticed 50% income development and 67% growth in company accounts, and more than 1 million new seats deployed all-around the world. &#13


“In the put up-Covid-19 period, IT managers of large organizations have the special challenge of checking the general performance of the community for every single of their personnel in the workplace, at house, or in any other remote area,” reported Erel Margalit, Founder and Chairman of JVP. “ControlUp presents a deep examination of mission-crucial programs — for each individual worker — highlighting issues and obtaining solutions to clear up them. The company’s dashboard permits IT administrators to keep track of, evaluate and increase the efficiency for all the staff in the company.”

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