xMatters, Inc. Closes $42 Million in Long-Term Growth Financing With Golub Capital
Funding Will Fuel Continued Global Expansion of Intelligent Communications Platform
SAN RAMON, Calif., August 30, 2016-- xMatters (www.xmatters.com), an intelligent communications platform that connects business system insights to relevant people and business processes, announced today it has closed $42 million in long-term financing with Golub Capital Late Stage Lending group. xMatters provides digital-focused enterprises -- large and small -- with the ability to communicate intelligently when interruptions occur across technology infrastructures, business operations, and business processes. This results in fewer interruptions, faster restorations, less frustration, and better service for xMatters' customers.
"In the last several years we have delivered 17 consecutive quarters of recurring revenue growth as our customers transition toward the agile, lean methodologies necessary to support their digital aspirations," said Troy McAlpin, CEO of xMatters. "We have recently opened several new global data centers, and are very well-positioned to continue expanding our operations, accelerating our growth, and investing further in developing new tools and applications to benefit our customers. Golub Capital and JMI Equity have provided us with a long-term strategy to drive our current and future expansion plans."
In this recent quarter alone, xMatters added 40 new global customers to its cloud service and observed a 35 percent year-over-year revenue increase, as well as a dollar-value customer retention level of over 96 percent. Recently named one of the Best Workplaces by Fortune, xMatters has optimized its customer service process to respond in a median time of less than two minutes, with 91 percent of all customer support tickets closed in one business day or less. It also achieved 99.98 percent uptime globally, with rates as high as 100 percent in several regions.
"xMatters is a rapidly-growing market leader in providing enterprises with critical incident communication and resolution tools," said Peter Fair, Managing Director at Golub Capital. "The company's solutions demonstrate a proven ROI in a world where downtime and disruptions have immediate, negative impacts on a company's bottom-line. We couldn't be more pleased to be partnering with JMI Equity and xMatters management to help drive the company's continued momentum."
"We have seen xMatters continue to invest wisely and grow over the last few years, improving major incident management and DevOps processes for enterprises globally," said Peter Arrowsmith, General Partner at JMI Equity. "We are pleased to partner with Golub Capital in supporting xMatters' continued strong trajectory in the years ahead."
xMatters is an intelligent communications platform that connects insights from any system to the people that matter in order to accelerate essential business processes. The platform automates, operationalizes and contextualizes communications within key DevOps processes, fundamentally altering the way business units work together. xMatters also supports enterprises with major incident and change management, alerting the right people on the right channels to time-sensitive events and problems like network outages, supply-chain disruptions, natural disasters and medical emergencies. Founded in 2000 and named the #1 Best Mid-Sized Workplace in Technology, xMatters is headquartered in San Ramon, CA, with global offices. For more information, please visit www.xmatters.com.
About Golub Capital Late Stage Lending
Golub Capital Late Stage offers venture debt opportunities to venture-backed, late stage SaaS companies. Golub Capital's flexible credit solutions offer entrepreneurs and executives the opportunity to finance their future without diluting their ownership. The firm structures offerings to foster long-term partnerships, encouraging portfolio companies to take control of their growth, make strategic acquisitions, and expand their product offerings.
Golub Capital is a nationally recognized credit asset manager with over $18 billion of capital under management. For over 20 years, the firm has provided credit to help medium-sized U.S. businesses grow. The firm's award-winning middle market lending business helps provide financing for middle market companies and their private equity sponsors. Golub Capital's credit expertise also forms the foundation of its Late State Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling finance solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 300 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 120 businesses in its target markets, successfully completed over 85 exits, and raised more than $3.0 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
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