Numerify Raises $27.5 Million

SAN JOSE — Numerify, a provider of AI-powered IT Business Analytics, has closed a $27.5 million funding round led by DAG Ventures, with support from existing investors including Lightspeed Venture Partners, Sequoia Capital, and Tenaya Capital. DAG Managing Partner Nick Pianim has joined Numerify’s board of directors.

The funding will help the company grow its enterprise customer footprint and accelerate the introduction of new analytic solutions that embed artificial intelligence and machine learning capabilities.

The funding follows a year of strong growth for Numerify in which it more than doubled its software subscription bookings and expanded its enterprise customer list to include top 5 companies in 11 different verticals. The Numerify platform has also continued to expand its technical lead in the market with 20 issued and pending patents. These patents have been instrumental in delivering new solutions that span IT Plan, Build, and Run processes, such as the recently-launched, AI-powered Change Success solution. Additionally, customer satisfaction continued to hit new heights with strong expansion in both adoption and usage.

“We have a successful track record of investments in pioneering software companies scaling their market presence,” said Nick Pianim, Managing Director of DAG Ventures. “Numerify’s broad adoption in several of its blue-chip customers demonstrates the Numerify IT Business Analytics solution as being essential to any enterprise with a digital transformation initiative looking to ensure their IT investments are being deployed in the most operationally-effective manner possible. Numerify’s AI-powered technology and strong solution focus have given it a leading position in the market, and I look forward to working with the Numerify team to drive further rapid growth.”

“Numerify has emerged as a leader in the IT Business Analytics space by delivering a complete solution suite that our customers can use to run a high-performance IT organization,” said Gaurav Rewari, co-founder and CEO of Numerify. “Our vision is that through a full fleet of targeted and interconnected applications spanning all of IT’s plan, build, and run activities and the key source systems that underpin them, Numerify will deliver to data-driven IT leaders the same powerful and transformational business analytics that their peers in sales, marketing, and finance enjoy. This round of funding will help us achieve that vision.”