Auvik Networks Raises $15 Million In Series B Financing

Auvik Networks has announced a $15 million Series B round of financing. The round was led by OpenView with participation from Auvik’s existing investors, Celtic House Venture Partners and Rho Canada Ventures.

The Waterloo-based Auvik Networks is a provider of network monitoring and management software for managed service providers (MSP). The company specializes in remote monitoring management (RMM) with a focus on network infrastructure like routers, firewalls and wifi controllers. The new funding will fuel product development and expansion into new markets.

Auvik’s cloud-based software gives MSPs increased insight into client networks and helps to automate complex and time-intensive tasks so a company can scale any kind of managed service effectively. One thing Auvik does differently is partner with some of its supposed rivals in the industry in an attempt to offer the best possible service to MSPs.

“We’re seeing rapid adoption of Auvik which tells us we’ve developed a product that managed service providers have been waiting for a long time,” said Marc Morin, CEO of Auvik. “It’s incredibly rewarding to hear stories from our channel partners about the value we’re bringing to their businesses.”

The first round of funding for the company came in 2013 when they raised $6 million from Celtic House, Rho Canada and BDC, among others. Auvik was named one of the top 100 IT disruptors last year by Channel E2E.