Goldman Sachs invests in xMatters
San Ramon, California-based xMatters, a collaboration platform that accelerates incident response and resolution, has secured $40 million in Series D funding. The investor was Goldman Sachs‘ private capital investing group.
PRESS RELEASE
SAN RAMON, CA February 20, 2018 — xMatters (www.xmatters.com), the integration-driven collaboration platform that accelerates incident response and resolution, today announced they have closed $40 million in Series D funding with Goldman Sachs’ Private Capital Investing group. The funds will be used to further the company’s consistent year-over-year growth, drive continued geographical expansion, and accelerate product development for its market-leading incident management solution.
Recently named one of the Best Workplaces by Fortune, xMatters empowers organizations to proactively prevent outages, resolve incidents, and keep the right people informed. As events unfold during a service outage or software deployment, the hand-off from tool to tool and ill-defined communication processes cause issues to linger and increase in severity and business impact. xMatters addresses the problem by bringing structure to collaboration, and using intelligent automation to drive the underlying workflow from originating systems forward to resolution.
“We are delighted to partner with Goldman Sachs for our Series D financing,” said Troy McAlpin, CEO of xMatters. “With this investment, we will continue to expand our global presence and accelerate our market-leading pace of innovation. We believe incident management is entering an exciting new era with the advent of automated incident resolution. I’m excited to see us build on our outstanding record of recurring revenue growth and loyal base of market leading customers. This includes deepening our ability to automate and operationalize collaboration by drawing insights across technology stacks.”
“The increased rate of software deployment and diversity of applications has driven transformation in resolution processes. We believe xMatters is very well positioned to meet the incident management needs of modern organizations through an elegant, seamless orchestration of people, tools, and information. We’re excited to take part in their continued success and support their next stage of growth,” said Stephen Kerns, Vice President in Goldman Sachs’ Private Capital Investing group.
As enterprises invest in digital transformation and place technology at the forefront of business strategies, xMatters has become increasingly critical in automating collaboration across applications and teams. With recent additions to the their customer base, global household names such as Vodafone, Danske Bank, Sony Network Entertainment, Molina Healthcare, AXA Insurance and The Telegraph join an exciting group of companies leading their respective markets. The success of these new, as well as existing customer relationships continues to propel xMatters with significant revenue growth and market adoption.
For more information on xMatters, please visit www.xmatters.com.
About xMatters
xMatters enhances collaboration by relaying relevant data between key systems while engaging the right people to proactively resolve issues. This integration-driven approach enables enterprises to avoid costly incidents, prevent outages, and streamline DevOps processes. For any given situation, xMatters automatically identifies the appropriate individuals or group and empowers them to take action. With over 200 integrations across a wide range of IT tools, xMatters is used by individual teams for day-to-day tasks, and across thousands of teams at Global 2000 companies working together at enterprise scale. Founded in 2000, xMatters is headquartered in San Ramon, CA, with additional offices worldwide. Stifel acted as exclusive financial advisor to xMatters during the fundraising process.
About Goldman Sachs Private Capital Investing
Goldman Sachs Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing capital to growth and middle-market companies. PCI invests $20 to $150 million per transaction in the form of common, preferred andstructured equity.
