Designed to simplify how Microsoft Cloud Technologies is deployed and managed, Nerdio raised $500 million in Series C round funding.
The Chicago-based startup says its rating has quadrupled since the Series B round two years ago and is now firmly present in unicorn territory, but the company will not reveal any specific ratings.
“We don’t disclose any specific valuations, but it’s $1 billion north,” Nerdio’s chief revenue officer Joseph Landes told TechCrunch via email.
Nerdio spun in 2020 from the “It-As-a-Service” company called Adar. Adar has forged the paths for Private Equity Ownership and Nerdio as dedicated cloud management service providers for customers, including Paypal, Sony and Comcast.
Nerdio is targeting companies looking to optimize their cloud infrastructure deployment and costs. Along with Nerdio Manager for Enterprise, the company helps manage the workforce of Azure Virtual Desktop and Windows applications in Microsoft’s Azure. It automates many of the tasks associated with cloud infrastructure and virtual desktop management, providing cost optimization features such as user provisioning, application deployment, and more, auto-scaling resources that match demand.
Virtual Desktops is a beginner-friendly computer environment that runs on a remote server instead of a physical computer, allowing users to access all apps, files and configurations on all devices over the Internet. Neldio promotes a more modern, cloud-native approach to traditional legacy players such as Citrix, which began before the cloud computing revolution began.
This is especially relevant at a time when millions of people are embracing remote and hybrid working environments, as they have secure access to all their work wherever they are.
“Managing a cloud environment is complex and expensive. It usually combines a lot of specialized technical expertise with costly siloed tools,” Landes says. “Nerdio offers a single comprehensive platform that enables organizations to manage their Microsoft cloud environments without the need for additional skills, tools or workflows.”
Until now, Nerdio raised a $8 million Series A round in 2020, followed by a $117 million Series B tranche three years later. Nerdio has been escorting the Atlantic Ocean of US Growth Ltd., along with Leaded Edge Capital and Stepstone, which raised minority stakes in the company for its latest $500 million cash injection.
Nerdio did not confirm what the percentage of ownership is across the investor range, but said the founder “holds a large share in the company.”
Nerdio says it plans to use its investment to strengthen its product lineup across major Microsoft services such as Azure Virtual Desktop, Windows 365 and Microsoft 365.
“We plan to increase that number significantly as we expand our global presence and build our customer support and engineering teams,” Landes said.
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