Nerdio Raises $117M to Double Its Headcount Next Year
Chicago-based Nerdio closed a $117 million Series B round on Wednesday. With the fresh capital, the company plans to double its workforce over the next year.
The round was led by Updata Partners, a venture capital firm that partners with software companies, and comes nearly two years after Nerdio raised $8 million in a Series A round.
Nerdio is a virtualization management platform for businesses of all sizes that use Microsoft technologies, such as Microsoft Azure and Microsoft 365. Nerdio’s MSP solution helps IT service providers bring more clients to Microsoft cloud, and its enterprise product minimizes Microsoft-related costs for businesses with a large number of virtual employees.
“Updata has a significant track record investing in and growing B2B SaaS companies over the past 20 years and we are thrilled to be the newest addition to their portfolio,” Nerdio’s CEO and co-founder Vadim Vladimirskiy said. “Their unique expertise will meaningfully accelerate our journey in becoming the leading cloud and DaaS management platform for service providers and enterprises.”
Nerdio said it will look to double its headcount next year and focus on expanding its executive leadership. The company is also planning to expand its presence outside of the U.S. by hiring sales talent in various countries.
Along with leading the round, Updata gained two seats on Nerdio’s board of directors.
“Their market traction to date and the proven value they can provide organizations of every size and vertical has us extremely excited to join the board of directors and help Nerdio build upon their market-leading position,” Carter Griffin, a general partner at Updata, said in a statement.
