Atera Announces $77 Million Funding Round from General Atlantic at Half a Billion Valuation
Following strong momentum in 2021, the Series B funding contributes to over $100M raised in the past year, advancing the company from start-up to major player
TEL AVIV, Israel, July 28, 2021 /PRNewswire/ -- Atera, a remote-first IT management company helping businesses transform as the world evolves to a remote work model, today announced a $77 million Series B funding round led by General Atlantic, a leading global growth equity firm, with participation from Series A partner, K1 Investment Management ("K1"), a leading investment firm focused on high-growth enterprise software companies. With this latest funding round, Atera will focus on driving further global expansion and developing new product innovations that continue to transform the IT industry with its revolutionary cloud-based technology.
Atera is one of the world's first all-in-one platforms that combines remote monitoring and management (RMM) with help desk, reporting, and operations management in a single intuitive system. Atera's platform enables managed service providers (MSPs) and IT departments to tackle IT challenges in an ever-evolving landscape. With Atera's technology, IT professionals can shift from a reactive model to become proactive problem solvers, whether in the office or remotely.
Over the past year, Atera has seen accelerated momentum through its enhanced platform features, reaching a new milestone of securing over 7,000 total customers worldwide in over 90 countries. Having earned widespread industry recognition, Atera has grown rapidly as the global business economy pivots toward a remote workforce, a landscape in which Atera's accessible, easy-to-use platform is needed more than ever before.
Following K1 Investment Management's investment in the company in February 2021, this latest investment from General Atlantic brings Atera's funding to date to over $100 million, more than tripling the company's first funding round and bringing the valuation of the company to half a billion dollars in less than one year. This investment not only accelerates the company's development from a burgeoning startup to one of the fastest growing global IT management firms today, but also provides the Atera team with support from General Atlantic's global platform and deep expertise in helping purpose-driven entrepreneurs scale their businesses worldwide.
"The global ecosystem has changed, and the need for the fast and easy deployment of IT services is more critical than ever to keep businesses running smoothly," said Gil Pekelman, CEO and Founder of Atera. "To meet this new reality, we are investing even more into our research, development, and innovation efforts to enhance and accelerate the product offerings and features our customers need most. We are dedicated to upgrading our platform both to better serve our customers but to likewise provide them with the ability to seamlessly scale their business and IT management offerings, friction-free."
"Atera has developed a compelling all-in-one platform that provides immense value for its customer base, and we are thrilled to be supporting the company in this important moment of its growth trajectory," said Alex Crisses, Managing Director, Global Head of New Investment Sourcing and Co-Head of Emerging Growth at General Atlantic. "We are excited to work with a category-defining Israeli company, extending General Atlantic's presence in the country's cutting-edge technology sector and marking our fifth investment in the region. We look forward to partnering with Gil, Oshri (CTO and Co-Founder), and the Atera team to help the company realize its vision."
Gary Reiner, Operating Partner at General Atlantic, added, "Atera is a high-growth company whose suite of tech-driven tools is built upon modern, agile architecture, enabling companies both large and small to approach the new world of work intuitively and efficiently. Atera has positioned itself as a one-stop, frictionless solution that is helping to transform the traditional role of MSPs and IT teams to proactive and predictive remediation partners."
To learn more about Atera's latest investment, please visit www.atera.com
About Atera
Atera is the developer of a predictive automation and remote monitoring and management (RMM) platform, built with a dispersed workforce in mind. With more than 7,000 customers in over 90 countries, Atera's intuitive all-in-one platform offers MSPs and businesses improved operational efficiency, seamless integration, and end-to-end management at industry-disruptive pricing. Atera's platform empowers IT teams of all sizes to maximize efficiency while transforming to a streamlined remote work environment by analyzing over 40,000 data points per second, 24/7. To learn more, visit atera.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
About K1
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 120 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since the inception of the firm, K1 has partnered with over 160 enterprise software companies. For more information about K1, please visit k1capital.com or follow us at linkedin.com/company/k1im.
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SOURCE Atera
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