Nexthink, a Switzerland-based IT analytics company backed by trading and services firm Mannai Corporation, has raised $40m in a series E round led by venture capital fund Highland Europe.
Waypoint Capital, Auriga Partners and Galeo Ventures also took part in the round, which boosted Nexthink’s funding to $69m to date.
Founded in 2004, Nexthink’s technology relies on artificial intelligence and machine learning to protect company networks, analysing endpoints, users, applications and connections. It was spun out from university École Polytechnique Fédérale de Lausanne.
Nexthink will use the capital to invest in its products, and to drive international expansion and recruitment, focusing on sales and engineering staff.
The company secured $14.5m in a 2014 series D round backed by Mannai that was led by Auriga Partners. VI Partners and Gilles Queuru also participated in the round, which followed a $5.5m Mannai-backed series C round in 2012.
Pedro Bados, chief executive, president and co-founder of Nexthink, said: “There is universal pain and a big need to have end-user visibility for any IT team worldwide.”
– A version of this article orignally appeared on our sister site, Global University Venturing.