Nexthink Reaches $1.1 Billion Valuation with $180M in Series D Financing Round

Nexthink provides the most complete digital experience management platform to IT teams to discover, monitor and proactively improve the digital services they provide to their employees. 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. During 2020 Nexthink has continued its hypergrowth crossing the $100M ARR, adding 180 customers and reaching 1,000 worldwide including 200 of the Global 2000 and a total of 11M employees.

“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.”

“Nexthink has seen outstanding growth in recent years,” said Bruce Chizen, Senior Advisor for Permira. “With the move to remote and hybrid digital workplaces, digital experience is everything in the enterprise and it is a critical component to employee satisfaction. With this latest round, Nexthink is poised to reimagine the role of IT for the world’s largest brands and give them the platform they need to deliver the best experiences at work."

Permira funds’ investment was made through the Growth Opportunities Fund, which focuses on minority investments in growth-focused businesses. The Permira funds have a strong track record of investing in technology, including investments in: TeamViewer, a leading global provider of secure remote connectivity solutions; Mirakl, a marketplace SaaS platform that empowers B2B and B2C organisations to launch and grow an enterprise marketplace at scale; Zwift, the global online fitness platform for cyclists and runners; and, Klarna, the leading innovative payments company.

In addition to the investment, the company has announced that Bruce Chizen, former CEO of Adobe and senior advisor at Permira, will join its board of directors. The latest round will be used to accelerate Nexthink’s innovation, rapid growth and expansion, particularly in the US. "Bruce is a terrific addition to the team. At Adobe he transformed the way people work by providing delightful experiences to millions of software users. Now we can do the same with the employees of thousands of companies around the world", said Pedro Bados.

Pedro Bados also published a longer blog post on LinkedIn summarising his learnings from the Nexthink journey and explaining what this new investment means for employees, customers and ecosystems.