Israeli tech startup Atera bags $77 million in funding to grow its IT automation platform; now valued at $0.5 billion
As the technology landscape evolves, IT departments have to support both in-house and remote customers. However, providing an integrated platform that combines remote monitoring and management (RMM) with help desk, reporting, and operations management has become one of the biggest challenges faced by IT support teams around the world.
Enter Atera, an IT automation platform that combines Remote Monitoring and management and RMM into a powerful solution for managed service providers (MSPs) and IT professionals. Atera combines all these components into a single intuitive system. Atera also helps businesses transform as the world evolves to a remote work model.
Today, Atera announced it has raised a $77 million Series B funding round to further drive global expansion and developing new product innovations that continue to transform the IT industry with its revolutionary cloud-based technology. The round was led by General Atlantic, with participation from Series A partner, K1 Investment Management (“K1”), a leading investment firm focused on high-growth enterprise software companies. The latest round now values the company at $0.5 billion.
Founded in 2011 by Gil Pekelman and Oshri Moyal, the Tel Aviv, Israel-based 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.
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.
“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.”