August 30, 2016

Xmatters raises $42M to help companies communicate in times of crisis

Xmatters, a cloud-based platform designed to aid company-wide communications during critical times, has raised $42 million from Golub Capital.

Founded in 2000, San Ramon-headquartered Xmatters sells itself as an “intelligent communications platform that connects insights from any system to the people that matter in order to accelerate essential business processes.” In more meaningful terms, the technology seeks to improve the way business units work together, automating and contextualizing communications while ensuring that operations continue to run smoothly during incidents such as natural disasters, medical emergencies, IT failures, and more.

The company says it will use its fresh cash influx to build on its recent growth and continue to expand globally.

“In the last several years we have delivered 17 consecutive quarters of recurring revenue growth as our customers transition toward the agile, lean methodologies necessary to support their digital aspirations,” said Xmatters CEO Troy McAlpin, in a press release. “We have recently opened several new global data centers, and are very well-positioned to continue expanding our operations, accelerating our growth, and investing further in developing new tools and applications to benefit our customers.”

Other similar companies operating in the space include PagerDuty, which has raised around $40 million to date, and VictorOps, which has nabbed close to $20 million. And a couple of months back, Virginia-based OpsGenie closed a $10 million round for its on-call management and IT alerts technology.