Funding to accelerate development of leading IT monitoring integration service for enterprise market and next stage of growth
GRAND RAPIDS, MICH. – Sep. 6, 2018 – Blue Medora, the IT monitoring integration leader, announced today a $10 million investment from growth equity investor Edison Partners. Proceeds will be used to accelerate development and enterprise market adoption of the company’s innovations including the recently introduced BindPlane™ service.
The new investment comes on the heels of a year of dramatic growth for Blue Medora. The company grew bookings by nearly 80 percent and increased its customer base by over 60 percent. Blue Medora also launched BindPlane™ – a category-defining approach to delivering IT monitoring integration as a service (MIaaS). With recent additions of integrations for Dell EMC VxRail, IBM Cloud and Alibaba Cloud, the catalog of technologies BindPlane connects now stands at more than 150.
“There has been awe-striking advancement in monitoring in the past two years thanks to AI, but the industry is still relying on a hodgepodge of data collection strategies. It’s painful for end-users, who struggle to get clear insights when things go wrong,” explains Nathan Owen, CEO and co-founder of Blue Medora. “Edison’s partnership validates the value of decoupling data collection from data analytics and will help us to elevate monitoring to its fullest potential.”
Most large organizations now run six or more monitoring tools. Each of them relies on a mixture of data collection techniques – from technology providers, open-source communities or custom integrations. Maintaining dozens of individual integrations typically turns into a significant investment, one with the potential to rival monitoring platform costs.
“There is a massive amount of value in using untapped IT performance data to proactively prevent crippling system outages like we’ve seen in airlines, retailers and other technology-intensive industries,” said Lenard Marcus, General Partner at Edison Partners, who led the investment and will join the board of the company. “Blue Medora has a one-of-a-kind vantage point in this market, with significant differentiation and momentum. We are thrilled to partner with Nathan and team in reshaping the expectations for IT performance monitoring, management and data-analytics.”
Blue Medora’s BindPlane MIaaS offers a single, self-maintaining connection that collects the health and performance data from 150 enterprise technologies and delivers it to every monitoring platform an organization owns in real-time. Additionally, Blue Medora’s “Dimensional Data” stream supports customers seeking full-stack monitoring across hybrid/multi-cloud environments and organizations looking to increase productivity and collaboration between IT teams using multiple monitoring platforms.
To learn more information, please visit www.BlueMedora.com
About Blue Medora
Blue Medora’s pioneering IT monitoring integration as a service addresses today’s IT challenges by easily connecting system health and performance data–no matter its source–with the world’s leading monitoring and analytics platforms. Blue Medora helps customers unlock dimensional data across their IT stack, otherwise hidden by traditional approaches to metrics collection.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating leverage, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $20 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.
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