Cherwell Software, a Colorado Springs, Colo.-based developer of a flexible IT service management platform, has closed a $25m funding round.
The minority investment has been made by Insight Venture Partners.
The company intends to use the capital to accelerate growth of its channel sales program globally and to build additional applications and services to broaden the capabilities of its IT Services Management (ITSM) platform.
In conjunction with the funding, Insight MD Richard Wells will join Cherwell’s board.
Led by Vance Brown, CEO and co-founder of Cherwell Software provides mid-market and enterprise companies with a SaaS-based and on-premises IT Service Management software platform. Customers include BE Aerospace, City of Scottsdale, The Weather Channel, Munich Airport and the University of New Mexico.
The company operates EMEA headquarters in Wootton Bassett, U.K.