Waterloo’s Auvik Networks raises $20 million Series C

Auvik Networks

Waterloo-based Auvik Networks has raised a $20 million Series C led by existing investor OpenView, with participation from returning investors Celtic House Venture Partners and Rho Canada Ventures.

Auvik’s cloud software gives managed service providers (MSPs) insight into client networks and automates tasks associated with monitoring. The platform gives MSPs visibility and control over network infrastructure like switches, routers, and firewalls, with the goal of helping them scale services more efficiently.

“This Series C financing is a huge vote of confidence from our investment partners,” said Marc Morin, CEO of Auvik Networks. “Auvik is providing industry-leading network management software for MSPs, and the funding will enable us to further accelerate our efforts and support an ever-growing number of MSP partners.”

In August 2017, the company raised a $15 million Series B to fuel product development and partnerships.

“The Auvik team has more than executed against plan since we made our initial investment in the company last August,” said Ricky Pelletier, partner at OpenView and Auvik board member. “It’s been clear since then that with increased network reliance and complexity, the need for a product like Auvik has never been more critical. We are thrilled to double down to help Auvik ensure that no MSP is left in the dark again.”

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.