Milan-based CoreView secures $10 million Series B funding to help global enterprises protect, manage, and optimize their Microsoft 365 environment
We live in a cloud era where most organizations run their IT operations from the cloud with no need for physical servers. Now IT infrastructure and compute resources can be rented instead of owning, maintaining, and upgrading them. Cloud technology enables businesses to focus on their core business and shift the heavy lifting of IT operations to the cloud provider. Cloud computing also enables businesses to access all their apps, emails, and other software programs without any upfront or CAPEX cost.
However, moving IT operations to the cloud is not without its challenges. Yesterday we told you about how hackers and cybercriminals stole $15 million from 150 companies by impersonating email addresses of senior executives using Microsoft Office 365 cloud. Using a method known as business email compromise (BEC)—also known as email account compromise (EAC), cybercriminals or hackers are able to craft and send email messages that appear to come from a known source making a legitimate request.
Enter CoreView, a Milan, Italy-based tech startup that provides SaaS management platform (SMP) to help organizations protect, manage, and optimize Microsoft 365 and other SaaS applications. CoreView’s solution prevents data breaches, identifies excess costs, and promotes employee productivity through actionable visibility with granular management capabilities in a single-pane interface.
Yesterday, CoreView announced it has closed a $10 million Series B funding round led by Insight Partners. The Company will use the investment to further extend the company’s leadership position within the SaaS management platform (SMP) market by investing in product innovation and expanding its global network of enterprise clients, international resellers, and managed service providers (MSPs).
Founded in 2014 by Ivan Fioravanti and David Mascarella, CoreView provides enterprise organizations and Microsoft partners the ability to monitor, manage, report, and audit valuable information on all aspects of their Office 365 environment. CoreView has already gained significant traction in the market, having increased year-over-year revenue 173% in 2019, grown its total number of users under management to more than five million, and earned a Microsoft Gold Partner certification.
“Businesses forced to implement and manage a comprehensive remote work strategy have greatly benefitted from CoreView’s intuitive and powerful enterprise solution,” said Insight Partners Managing Director Michael Triplett. “Our expertise in helping emerging enterprise software and technology companies scale quickly in large markets aligns well with the company’s aggressive growth plans. We are excited to continue to help CoreView’s leadership team build a world-class platform that solves many important problems businesses face today.”
Many enterprises migrated to M365 earlier in the year to keep operations running smoothly, employees productive, and to better support their SaaS environments during the shift to remote work. As IT and cybersecurity teams acclimated to their new cloud platform, they realized they needed actionable insights to help them properly secure, manage, and optimize their new IT environment. CoreView’s SMP augments and extends the Microsoft M365 Admin Center to deliver actionable insights in a single-pane-of-glass interface that help businesses implement least-privilege access in M365. This helps to prevent data breaches caused by external and internal threats, avoid overspending on licenses, automate user and event records, and deliver customizable reporting.
“We’re excited to continue working with the premier ScaleUp software investment firm,” said Michael A. Morrison, chief executive officer, CoreView. “Our mission of helping enterprises maximize the ROI of their M365 investment is perfectly aligned with the current business and economic environment so we expect to continue our exponential growth. This round of funding solidifies our leadership position within the market and helps us continue to build new functionality that makes our platform indispensable for businesses operating on cloud and SaaS platforms.”