- Itential — a leader in network and cloud automation — announced it has raised $20 million in Series B funding from Elsewhere Partners. These are the details.
Itential — a leader in network and cloud automation — announced it has raised $20 million in Series B funding from Elsewhere Partners. And Itential will use the funds to accelerate its core business and continue to build its Software-as-a-Service (SaaS) offering to expand within the global enterprise market.
How does Itential work? Itential helps its customers navigate the complexity of hybrid and multi-cloud networks. Launched In 2014, Itential helps Fortune 500 companies, Communications Service Providers, and Enterprises of all sizes automate their most critical infrastructure, working across physical, virtual, and hybrid, multi-cloud networks. Plus Itential’s low-code and vendor-agnostic platform seamlessly connects to any IT system, cloud, or network technology for configuration, compliance, and automation.
And Itential offers powerful network automation software to companies worldwide, ranging from Fortune 500 telecommunications and financial service companies to enterprises of all sizes. And the company is committed to building world-class products that accelerate the move toward software-driven networks and next-generation agile network operations. The company’s solutions utilize the latest thinking, open standards, open architectures, partners, and best practices to drive network operations and maximize the impact of automation.
As a part of the investment round, Cam McMartin (one of Elsewhere Partners’ Operating Advisors) is joining the Itential board. McMartin had previously held the roles of COO and CFO at SailPoint Technologies where he steered the company towards a SaaS hybrid business model from an on-premises solution.
Elsewhere’s Operating Advisor network includes more than 100 C-Suite executives like McMartin who have collectively scaled software businesses at all stages to successful exits. And Elsewhere places these leaders on portfolio boards as part of its investments to provide tailored guidance to company leaders. Elsewhere had previously invested a $5.5 million Series A round in Itential in 2017 to accelerate the company’s existing go-to-market and product roadmap.
“Itential’s comprehensive low-code approach to network automation saves time and human capital on traditionally cumbersome, manual processes. We have been impressed with the company’s ability to quickly deliver and showcase value across enterprises of all sizes and its pragmatic approach to product-led growth to address its customer needs.”
— Cam McMartin
“Itential is seeing a tremendous response from customers and partners to adopt network automation. We are honored to have our Series B led by Elsewhere Partners and share our vision in transforming how enterprise networks are managed. We are delighted to welcome Cam McMartin to our Board and to receive the ongoing support from Elsewhere on this exciting journey.”
— Ian Bresnahan, President, CEO and co-founder of Itential