ControlUp raises $ 100 million for remote work management platform


Israeli firm’s platform brings together a diverse set of real-time metrics on critical SaaS applications

Meir Orbach 16:0011.10.21

ControlUp, which has developed a platform for managing the remote work environment, announced on Wednesday that it has completed a $ 100 million funding round, co-led by K1 Investment Management and JVP. The tour includes an important secondary element in which shares will be acquired from the employees and managers of the company. ControlUp CEO and co-founder Asaf Ganot told Calcalist that ControlUp still isn’t a unicorn, but it’s not far away. “We’ve chosen to fundraise now at a valuation that brings us a lot closer to being a unicorn rather than waiting a few months when we’re a unicorn,” Ganot said. “We will have a very important valuation in our next round or we will have already gone public.”

ControlUp’s remote work environment platform brings together a diverse set of real-time metrics on critical SaaS applications, giving IT teams a 360-degree view of their employees’ entire digital experience.

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

“We will use part of the funds to make additional acquisitions after we have already acquired a company which has proven to be very successful,” said Ganot. “Both funds decided to deposit the money themselves rather than bringing in new investors, even though there was a lot of interest. We chose to support them because they have supported us for years and have given us a good valuation, which spared us. a headache.”

ControlUp currently employs 260 people, including 170 in Israel. Ganot says he will add 150 more employees by the end of 2022. “We have very significant growth with accelerating sales as the whole job market has changed with everyone embracing the hybrid model,” he said. declared Ganot. “For an employee to be able to work with all of their tools, they need solutions and we are the company that makes organizations run.”

ControlUp said its product is used by the largest companies to support their hybrid workforce, including four of the top five US health insurance companies, five of the top eight US health care companies and four of the top six. global telecommunications companies. Last year, ControlUp saw 50% growth in revenue and 67% growth in corporate accounts, and more than one million new positions were deployed worldwide.

“In the post-Covid-19 era, IT managers in large organizations have the unique challenge of monitoring network performance for each of their employees in the office, home or any other remote location,” said Erel Margalit, Founder and Chairman of JVP. “ControlUp provides in-depth analysis of critical applications – for every employee – by highlighting problems and finding solutions to solve them. The corporate dashboard enables IT managers to monitor, evaluate and improve the productivity of all employees in the company.

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