Atera Announces $77 Million Funding Round from General Atlantic at Half a Billion Valuation
Atera, a remote-first IT management company helping businesses transform as the world evolves to a remote work model, announced a $77 million Series B funding round led by General Atlantic, a leading global growth equity firm, with participation from Series A partner, K1 Investment Management (K1), a leading investment firm focused on high-growth enterprise software companies. With this latest funding round, Atera will focus on driving further global expansion and developing new product innovations that continue to transform the IT industry with its revolutionary cloud-based technology.
Atera is one of the world’s first all-in-one platforms that combines remote monitoring and management (RMM) with help desk, reporting, and operations management in a single intuitive system. Atera’s platform enables managed service providers (MSPs) and IT departments to tackle IT challenges in an ever-evolving landscape. With Atera’s technology, IT professionals can shift from a reactive model to become proactive problem solvers, whether in the office or remotely.
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Over the past year, Atera has seen accelerated momentum through its enhanced platform features, reaching a new milestone of securing over 7,000 total customers worldwide in over 90 countries. Having earned widespread industry recognition, Atera has grown rapidly as the global business economy pivots toward a remote workforce, a landscape in which Atera’s accessible, easy-to-use platform is needed more than ever before.
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. This investment not only accelerates the company’s development from a burgeoning startup to one of the fastest growing global IT management firms today, but also provides the Atera team with support from General Atlantic’s global platform and deep expertise in helping purpose-driven entrepreneurs scale their businesses worldwide.
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“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.”
Gary Reiner, Operating Partner at General Atlantic, added, “Atera is a high-growth company whose suite of tech-driven tools is built upon modern, agile architecture, enabling companies both large and small to approach the new world of work intuitively and efficiently. Atera has positioned itself as a one-stop, frictionless solution that is helping to transform the traditional role of MSPs and IT teams to proactive and predictive remediation partners.”
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