Written by William Kilmer, Managing Partner, C5 Capital
Last week, C5 Capital announced that it led the $20.5M growth acceleration round in Oomnitza, pioneering a new category of solutions for Enterprise Technology Management (ETM). As the lead on this investment, I’d like to explain why we believe this market, and Oomnitza, are going to be on every organization’s radar.
San Francisco-based Oomnitza was founded in 2013 to address the growing problem of Enterprise Technology Management. It is the cornerstone of effective technology investment and good cybersecurity. Oomnitza stands out in enabling enterprises to identify their technology assets and efficiently orchestrate lifecycle processes across all IT assets, from purchase to end-of-life, ensuring their technology is secure, compliant, and optimized, and empowering employee productivity.
The company has secured its position as the leading platform for managing enterprise technology assets, including endpoints and mobile devices, on-premises and cloud applications, cloud infrastructure, network devices, and accessories.
In an era when technology has become a strategic advantage, enterprises are increasingly looking for a way to manage their technology investments more effectively. Companies have long invested in a system of record to effectively manage critical sources of value and assets. Today they use such platforms to manage customer relations (Salesforce), finance assets (Oracle), enterprise resources (NetSuite), and human capital (Workday). They now need a better way manage their technology assets more efficiently to stay competitive.
The Oomnitza solution helps companies on the path to digital transformation because adopting a hybrid IT ecosystem requires a revolutionary way of thinking about security, compliance, and the experience of both the customer and employees. As the ultimate system of record for Enterprise Technology Management, Oomnitza enables organizations to optimize their technology investments and ensure security, auditability, and regulatory compliance. The company’s SaaS-based solution is much more than just a platform for delivering IT products and services to employees and customers; it is a strategic asset in the era of digital transformation.
The importance of Oomnitza’s solution is underscored by its customer base of more than 150 A-list customers, including digital disruptors in nearly every market sector. Collectively, Oomnitza’s customers represent over $3 trillion in market capitalization and nearly a dozen unicorn companies. We are impressed by the company’s ability to understand customer needs and build tailored solutions into a simple and easy-to-use platform.
We see three reasons why Oomnitza’s solution is absolutely critical for organizations:
- The first is that Enterprise Technology Management is essential for sound cybersecurity. Gartner estimates that 6.5 billion endpoint devices are currently connected to enterprise networks. With many billions more connected sensors, IoT, and OT devices, as well as an expanding perimeter of cloud resources, organizations need a single source of truth to identify what they have before they can secure, update, and patch it regularly.
- The second is that Enterprise Technology Management is becoming the basis for automation of IT services, enabling new levels of consistency, efficiency, and productivity. As organizations increasingly rely on digital technologies, they need to scale those platforms to grow and change them rapidly. Oomnitza stands out in its ability to create automated workflows to drive efficient initiation, management, security, and depreciation of assets, enabling organizations to deploy and change technology at scale.
- The third is that Enterprise Technology Management is the basis of optimizing the cost of IT systems. Going beyond just hardware and software costs, Oomnitza’s Enterprise Technology Management platform enables organizations to eliminate hidden costs of performance, process inefficiencies, poor customer and employee experience, and scalability. Oomnitza users benefit from improved customer engagement and brand image, with increasing value delivered at scale.
Organizations are still at the beginning of an inflection point in digital transformation and the transition to a hybrid IT environment. In the post-Covid world, enterprises will be more digital, employees more frequently remote, and companies more reliant on technology to deliver better customer experiences and create advantage. We believe that Oomnitza will be at the center of helping organizations understand, manage, and secure their technology assets and will continue its path as a great enterprise software company.
We are pleased to work with such an outstanding team of co-founders and leaders at Oomnitza who bring vision, passion, and experience to the table. Just yesterday, Oomnitza co-founder and CEO, Arthur Lozinski was ranked one of the top 50 SaaS CEOs of 2021 by The Software Report.
We have been joined by new investors Gula Tech Adventures, Aspenwood Ventures (AKA Hummer Winblad), and previous investors Shasta Ventures and Riverside Acceleration Capital in this round. As part of the investment, I will be joining the board of directors and working directly with the management team and board on their continued path of accelerating growth.