IT management software provider SolarWinds has agreed to acquire Samanage, a US-based employee service management platform developer backed by enterprise software producer Salesforce, for $350m.
Founded in 2007, Samanage operates a cloud-based software platform that facilitates IT service management, offering features such as a unified interface for support tickets and procurement tools, applying artificial intelligence to automate certain processes.
SolarWinds expects Samanage’s offering to complement its on-site IT infrastructure management software, helping to cover the requirements of customers ranging from small and medium-sized enterprises to large corporations.
Samanage had raised a total of $74m in equity financing before the acquisition, most recently securing $30m from Morgan Stanley Expansion Capital, the growth equity division of investment bank Morgan Stanley, in November 2018.
Salesforce Ventures, the corporate venturing arm of Salesforce, had contributed to a $20m round in 2017 together with existing backers Viola Ventures (then known as Carmel Ventures), Gemini Israel Ventures, Marker and Vintage Investment Partners.
Samanage’s shareholders also include Silicon Valley Bank, which participated in a $16m series B round in 2015, as well as Innovation Endeavors.
