CHICAGO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Nerdio, the premier solution for organizations of all sizes looking to deploy virtual desktops leveraging native Microsoft technologies, today announced completion of a Series B funding round investment of $117 million by Updata Partners, a leading growth equity company.
“Updata has a significant track record investing in and growing B2B SaaS companies over the past 20 years and we are thrilled to be the newest addition to their portfolio,” said Vadim Vladimirskiy, CEO and co-founder, Nerdio. “Their unique expertise will meaningfully accelerate our journey in becoming the leading cloud and DaaS management platform for service providers and enterprises. “
Nerdio adds value on top of the powerful capabilities in Azure Virtual Desktop, Windows 365, and Microsoft Intune by delivering hundreds of features to simplify management, ensure efficient operations, and lower compute and storage costs by up to 80% compared to unoptimized Azure environments.
It is the only Azure management platform that allows admins to seamlessly provision and manage deployments of both Azure Virtual Desktop and Windows 365 side-by-side. This allows partners and organizations unmatched flexibility for scaling and fine-tuning their DaaS approaches and equipping employees with the right desktops and applications.
“We are incredibly excited to join Nerdio on their journey helping enterprise organizations and partners modernize their DaaS initiatives and delivery methods,” said Carter Griffin, General Partner, Updata. “Their market traction to-date and the proven value they can provide organizations of every size and vertical has us extremely excited to join the board of directors and help Nerdio build upon their market-leading position.”
Nerdio plans to more than double its headcount over the next year with a strong focus on expanding the company’s executive leadership. It will expand its sales staff and presence in even more countries in addition to recent growth across UK, EMEA, Australia, New Zealand, India, and Brazil.
Additionally, the company is gearing up for its annual partner conference, NerdioCon, taking place February 27 – March 3, 2023, in Cancun, Mexico. Hundreds of MSP and enterprise partners from around the world are expected to attend the event where Nerdio will share their product vision, roadmap and plans to significantly expand the opportunity for partners to build successful cloud practices on top of Microsoft technologies.
As part of the investment, Updata has been appointed to Nerdio’s Board of Directors and will join existing members Gavriella Schuster, Microsoft’s former Global Channel Chief; Andy Lees, another former top Microsoft executive who served as President and Corporate Vice President during his 23-year tenure; Bret Maxwell, Managing General Partner, MK Capital; and Vadim Vladimirskiy, Nerdio CEO and co-founder. Nerdio previously raised a $8 million Series A round in February 2020 led by Vladimirskiy, MK Capital, and Joseph Landes, the company’s Chief Revenue Officer and co-founder.
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About Nerdio
Nerdio adds value on top of the powerful capabilities in Azure Virtual Desktop, Windows 365, and Microsoft Intune by delivering hundreds of features that simplify management, ensure efficient operations, and lower Azure compute and storage costs by up to 80% via automation and license optimization. Leveraging Nerdio, MSPs can manage customers’ cloud environments through streamlined, multi-tenant, workflow-powered technology that allows them to create and grow cloud-based recurring revenues. Enterprise IT professionals can deliver and maintain a wide range of virtual Windows endpoints across hybrid workforces with ease and fine-tune end-user computing (EUC) approaches for maximum effectiveness using powerful monitoring and analytics capabilities. For more information, please visit getnerdio.com
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm in Washington D.C. with over $1.5 billion in committed capital. Led by an investment team averaging more than 25 years of technology experience, Updata invests in high-growth B2B software and software-driven businesses where the combination of capital and operating experience will help accelerate success.
About MK Capital
MK Capital is an early-stage lead investor in the software and cloud services industries. The firm's partners, who average more than 20 years of venture capital experience, actively partner with entrepreneurial management teams to build leading companies that accelerate the digital transformation of the world economy. MK Capital manages more than $300 million in capital and is actively seeking new investment opportunities. For more information, visit mkcapital.com.
