EPFL spinout Nexthink, which uses artificial intelligence to monitor and analyse network traffic and is backed by Mannai Corporation, raises $40m to drive international expansion.
Nexthink, a Switzerland-based information technology analytics firm that spun out from École Polytechnique Fédérale de Lausanne (EPFL), has raised $40m in a series B round led by Highland Europe.
Waypoint Capital, Auriga Partners and Galeo Ventures also took part in the round.
Founded in 2004, Nexthink’s technology relies on artificial intelligence and machine learning to protect company networks. The system analyses endpoints, users, applications and connections.
Nexthink will use the capital to invest in its products as well as to drive international expansion and recruitment, focusing on sales and engineering staff.
The firm has raised $65m to date, it said in its statement.
The company secured $14.5m in funding in 2014 backed by trading and services firm Mannai Corporation. The round was led by Auriga Partners, while VI Partners and Gilles Queuru also participated.
Mannai had previously also invested in Nexthink’s $5.5m 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 world-wide.”
