Auvik Networks Funding, Investors & Competitors
Auvik Networks has raised $283M across 4 funding rounds, most recently a $250M undisclosed-stage round in July 2021.
Last Auvik Networks funding round
$250M
Undisclosed stage · Jul 2021
Cumulative funding Auvik Networks raised
$283M
across 4 funding rounds
Key investors in Auvik Networks
Celtic House Venture Partners
Rho Canada Ventures
OpenView
BDC Capital
Great Hill Partners
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Marc Morin
About Auvik Networks
Auvik Networks is a Canada-based developer of cloud-based network monitoring software deployed worldwide. The platform automates discovery, mapping, configuration backups, and traffic analysis to boost IT efficiency and mitigate downtime risks. Recognized on Deloitte Technology Fast 50 and Fast 500 lists, it holds top rankings among Canadian firms in global growth indexes.
Founded
2011
HQ
WaterlooWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Auvik Networks Funding History
Auvik Networks has raised a total of $283M across 4 funding rounds.
Auvik Networks' first fundraising round was a $6M Series A in May 2013. The most recent completed round was a $250M undisclosed-stage round in July 2021.
Auvik Networks funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2021 | Undisclosed stage | Great Hill Partners (lead) | $250M | Auvik Networks is a cloud-based network management software company founded in 2011 and based in Waterloo, Ontario, Canada. The company provides IT operations software designed to simplify network management for IT professionals and managed service providers (MSPs), helping customers automate network discovery, inventory documentation, performance monitoring, and configuration backup and recovery. Auvik's software manages more than 4 million devices across over 50,000 networks globally. On July 15, 2021, Auvik announced a $250 million investment from Great Hill Partners, a Boston-based private equity firm specializing in high-growth businesses across software, digital infrastructure, and fintech sectors. This investment represented a majority stake acquisition, with existing investor Celtic House Venture Partners continuing as a shareholder. CEO Marc Morin characterized the round as equivalent to an E-series funding event. The capital was earmarked for product development, geographic expansion into Asian and Indian markets, and expansion into new market segments beyond its core MSP customer base, with particular focus on the mid-market segment. Prior to this round, Auvik had raised approximately $33.3 million from investors including Rho Canada Ventures, Celtic House Venture Partners, OpenView, and BDC Venture Capital. The company achieved recognition as Canada's top company on the FT America's Fastest Growing Companies list and won Deloitte Technology Fast 50 and Fast 500 awards. |
| May 2018 | Series C | OpenView (lead); Celtic House Venture Partners; Rho Canada Ventures | $16M | Auvik Networks, based in Waterloo, Ontario, develops cloud-based network monitoring and management software for managed service providers (MSPs). The software provides visibility into network infrastructure including switches, routers, firewalls, and Wi-Fi controllers, while automating tasks to help MSPs scale services efficiently. Key features include network topology visualizations, device configuration analysis, professional service automation integration, and user identity management. On May 15, 2018, Auvik Networks raised CAD$20 million in a Series C funding round led by OpenView, with participation from Celtic House Venture Partners and Rho Canada Ventures. This followed a CAD$15 million Series B round in August 2017, also led by OpenView, bringing total funding to approximately $33.5 million USD at that point. The new capital supported product development, partner initiatives, market expansion, and accommodated rapid growth, including more than doubling the partner base and employee headcount in the prior year. Auvik achieved $9.4 million in revenue for FY 2018 around the Series C date and was recognized as Most Valuable Software at the Channelnomics MSP Awards. |
| Aug 2017 | Series B | OpenView (lead); Celtic House Venture Partners; Rho Canada Ventures | $12M | Auvik Networks is a cloud-based network monitoring and management software provider serving managed service providers (MSPs). The company's platform delivers visibility into network infrastructure such as switches, routers, firewalls, and Wi-Fi controllers, automating complex tasks to help MSPs scale their managed services efficiently. In August 2017, Auvik Networks closed a CAD$15 million Series B round led by OpenView, with participation from return investors Celtic House Venture Partners and Rho Canada Ventures. OpenView partner Ricky Pelletier joined the company's board as part of the investment. The funding was designated to accelerate product development, support partner success initiatives, and expand into new markets. The company demonstrated strong momentum at the time of the Series B, with CEO Marc Morin highlighting rapid adoption among MSPs and positive feedback from channel partners. By May 2018, Auvik had grown significantly—more than doubling its partner base and employee headcount since the Series B—and subsequently raised an additional CAD$20 million Series C round from the same core investor group, led by OpenView. The company was recognized as Most Valuable Software at the Channelnomics MSP Awards in 2018. |
| May 2013 | Series A | Marc Morin; Celtic House Venture Partners; BDC Capital; Rho Canada Ventures | $6M | Auvik Networks secured a $6 million first funding round on May 14, 2013, from Celtic House Venture Partners, Rho Canada Ventures, BDC Venture Capital IT Fund, and founders including Marc Morin. The company develops a cloud-based network automation platform that simplifies configuration, monitoring, and management of network devices and applications for small and medium-sized businesses and smaller enterprises. The funding supported accelerated development and initial commercialization of the platform, which uses a proprietary compiler to construct network configurations from business requirements. Auvik's software automates complex networking tasks, implements best practices for reliability, security, and agility, and prepares networks for future technologies like Software Defined Networking (SDN). Founders Marc Morin (ex-Founder/CTO of PixStream and Sandvine), David Yach (ex-CTO Software at RIM, VP at Sybase), and Alex Hoff (Product Manager at Sandvine) brought extensive industry experience. BDC Capital invested in 2013 through its IT Venture Fund in the Ontario-based information technology company, which has since exited their portfolio. |
Who has invested in Auvik Networks?
6 investors have backed Auvik Networks across its funding rounds, including Celtic House Venture Partners, Rho Canada Ventures, OpenView, BDC Capital, Great Hill Partners and Marc Morin.
Lead investors include Great Hill Partners and OpenView.
Auvik Networks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Toronto | 3 | Participant | May 2013 | |
 United States | 3 | Participant | May 2013 | |
| Boston, MA | 2 | Lead | Aug 2017 | |
| Marc Morin | Waterloo | 1 | Participant | May 2013 |
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Start Free TrialAcquisitions by Auvik Networks
Auvik Networks has acquired 4 companies to date.
Last acquisition by Auvik Networks was on October 12th 2022. Auvik Networks acquired Boardgent for undisclosed valuation.
Latest Acquisitions by Auvik Networks
| Description | Boardgent provides a remote desktop management platform enabling IT administrators to monitor, control, and secure distributed computer fleets. Features include real-time screen sharing, file transfers, session recording, and endpoint protection against threats. Taiwan-headquartered Boardgent targets enterprises requiring cross-platform compatibility for Windows, macOS, and Linux devices. | Saaslio is a SaaS discovery and management platform tailored for managed service providers, incorporating shadow IT detection and alerting features. The solution scans IT environments to uncover unauthorized applications, monitors usage patterns, and provides centralized control over SaaS deployments in information technology and software sectors. | MetaGeek is a Boise, Idaho-headquartered provider of Wi-Fi diagnostic tools including spectrum analyzers and packet capture software. WiFi Explorer and inSSIDer scan networks to troubleshoot interference and client issues. Used by IT teams in enterprises and ISPs, the suite supports 802.11ax standards. Acquired by MetaGeek in 2014, tools integrate with Cisco Meraki. | Talaia is a Barcelona-based provider of managed network visibility solutions for cybersecurity teams. The platform deploys sensors across on-premises, cloud, and hybrid environments to detect threats in real time. It integrates with SIEM tools from Splunk and Elastic for automated analysis and response. |
| HQ Country |  | | |  |
| HQ City | Bogotá | Indianapolis, IN | Boise, ID | Barcelona |
| Deal Date | 12 Oct 2022 | 12 Oct 2022 | 11 Apr 2022 | 10 Oct 2018 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Auvik Networks Competitors
Auvik Networks competitors include listed companies like VeriSign, Unirita and Integrated Research, and private ones like Nile, Rippling and Checkr.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $1.7B | $1.2B | $27B | 16.6x | |
| San Jose, CA | Private | $8M | - | $775M | 96.9x | |
 Japan | Publicly listed | $79M | $10M | $90M | 0.3x | |
 Australia | Publicly listed | $49M | $11M | $37M | 0.0x | |
| San Francisco, CA | Private | $570M | - | $17B | 29.5x | |
| San Francisco, CA | Private | $800M | - | $4.6B | 5.8x |
Auvik Networks Public Comps
Auvik Networks is still privately-owned, but its public comps include IBM, ServiceNow, Datadog, Constellation Software, Roper Technologies, VeriSign, F5, SS&C Technologies, Dynatrace and Elastic.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $1.7B | $1.2B | 17.3x | 16.6x | 24.9x | 22.6x | |||
| $3.1B | $901M | 7.5x | 6.9x | 25.8x | 18.3x | |||
| $6.3B | $2.1B | 4.2x | 3.9x | 12.4x | 10.0x | |||
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Common questions about Auvik Networks
| When was Auvik Networks founded? | Auvik Networks was founded in 2011. |
| Where is Auvik Networks headquartered? | Auvik Networks is headquartered in Waterloo, Canada. |
| Is Auvik Networks publicly listed? | No, Auvik Networks is a private, VC-backed company. |
| How much funding has Auvik Networks raised? | Auvik Networks has raised $283M across 4 funding rounds. |
| What was Auvik Networks' last funding round? | Auvik Networks' last funding round was a $250M undisclosed-stage round in July 2021, led by Great Hill Partners. |
| Who are Auvik Networks' investors? | Auvik Networks' investors include Celtic House Venture Partners, Rho Canada Ventures, OpenView, Marc Morin, Great Hill Partners and BDC Capital. |
| Which companies are comparable to Auvik Networks? | Companies comparable to Auvik Networks include VeriSign, Nile, Unirita, Integrated Research, Rippling and Checkr. |
| How many companies has Auvik Networks acquired? | Auvik Networks has acquired 4 companies, including Boardgent, Saaslio, MetaGeek and Talaia. |
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