Nexthink adds Bruce Chizen to its Board along with raising $180m Series D financing led by Permira, bringing valuation to $1.1B

– SWITZERLAND, Lausanne / USA, MA –  Nexthink, the leader in digital employee experience management software, today announced a $180 million Series D financing round led by Permira, through its Growth Opportunities Fund, alongside existing investors including Highland Europe and Index Ventures, bringing the valuation to $1.1 billion.

Concurrent with the financing, the company also announced the appointment of Bruce Chizen, former CEO of Adobe and senior advisor at Permira, to its board of directors.

“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.”

The latest round will be used to accelerate Nexthink’s innovation, rapid growth, and expansion, particularly in the US.

“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 CEO and Co-founder, Pedro Bados. “We see a huge opportunity ahead of us to redefine the future way in which companies will provide digital workplaces to their workforce. 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.”

The company is now close to 700 employees and plans to reach 900 by the end of 2021, hiring in all major locations in Europe, India, and the US. 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.

Permira funds’ investment was made through the Growth Opportunities Fund I, 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 organizations 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.

“Nexthink is a clear global market leader, offering excellent support and services to its clients,” said Stefan Dziarski, Partner at Permira. “Using our experience and know-how in infrastructure software, particularly prior investments such as TeamViewer, we look forward to partnering with Pedro and his team to drive growth across the firm.”

“Disruptive SaaS leaders that deliver clear productivity and employee experience benefits in today’s fast-changing world are a key focus area for us at Permira. Nexthink is a great fit with the investment strategy of Permira’s Growth Opportunities Fund given its strong growth and technology focus,” added Pierre Pozzo, Principal at Permira.

About Permira

Permira is a global investment firm. Founded in 1985, the firm advises funds with a total committed capital of approximately US$50bn (€44bn) and makes long-term investments, including majority control investments as well as strategic minority investments, in companies to transform their performance and drive sustainable growth. The Permira funds have made over 250 private equity investments in four key sectors: Technology, Consumer, Services, and Healthcare. Permira employs over 250 people in 15 offices across Europe, North America, and Asia.

For more information, visit www.permira.com.

About Nexthink

Nexthink is the leader in digital employee experience management software. The company gives IT leaders unprecedented insight into employees’ daily experiences of technology at the device level – freeing IT to progress from reactive problem solving to proactive optimization. Nexthink enables its more than 1,000 customers to provide better digital experiences to more than 11 million employees. Dual headquartered in Lausanne, Switzerland, and Boston, Massachusetts, Nexthink has 9 offices worldwide.

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