Nexthink Continues Hyper Growth As One Of The Largest Providers Of Digital Experience Management For IT Teams

Founded in Lausanne, Switzerland, Nexthink is a startup that enables enterprises to create highly productive digital workplaces for their employees by delivering optimal end-user experience.

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Nexthink provides the most complete digital experience management platform for IT teams to discover, monitor, and proactively improve the digital services they provide to their employees. And according to a survey by the company, 96% of technology executives surveyed agree that employee experience is an essential part of what IT teams do. Meanwhile, 34% of respondents said they rely on manual methods to collect experience information and 46% of respondents don’t measure their employees’ digital experience at all.

The company’s software is aimed at larger organizations with at least 5,000 employees. Its technology is used by more than 1,000 global customers, including 3M, UBS, and Mercedes-Benz. The rise of remote working and the acceleration of digital transformation has seen the company's annual recurring revenue reach more than $100 million last year.

Now Nexthink has announced its latest Series D funding round, in which it raised $180 million bringing its valuation to $1.1 billion. It received funding from Permira with help from Highland Europe and Index Ventures. The company has now raised more than $336 million, according to Crunchbase data.

The company also announced that Bruce Chizen, former CEO of Adobe and Senior Advisor at Permira, will join its board of directors. At Adobe he transformed the way people work by providing experiences to millions of software users. Now he plans to do the same at Nexthink.

“The rise in remote working has dramatically accelerated the need for Digital Employee Experience, as a big part of all the interactions that employees have with companies are now digital,” said Pedro Bados, CEO and Co-founder of Nexthink. “We see a huge opportunity ahead of us to redefine the future way in which companies will provide digital workplaces to their workforce.”

The company is now close to 700 employees and plans to reach 900 by the end of 2021, hiring in all major locations in the U.S., Europe, and India. Now, this latest round of funding will be used to accelerate Nexthink’s innovation, rapid growth, and expansion, particularly in the U.S.