By Vincent Letteri Apr 04, 2018
Technology is central to every business today, no matter what industry or area of the world, and when something goes wrong with that technology, it can paralyze a business.
Enterprise Service Management (ESM) software helps prevent that paralysis, helping businesses manage, coordinate and keep track of their tech assets. ESM software is incredibly important to companies big and small and only becoming more important as tech continues to permeate every aspect of a company.
We believe Colorado Springs, Colo.-based Cherwell is the best-in-class offering in this growing ESM space, and that’s exactly why we’re thrilled to be making an additional investment in the company through our Next Generation Technology Fund, which follows our initial investment made in February 2017.
Since that initial investment, we’ve become even more convinced of Cherwell’s solutions and the great opportunity for growth that lies ahead. Cherwell is a demonstrated ESM leader, with specific advantages in terms of flexibility, customer service, and product architecture that are helping the company expand rapidly.
Cherwell can be deployed either on premise or in the cloud and it can be seamlessly integrated within a customer’s existing legacy software packages. Thousands of custom apps have been designed and built on top of the Cherwell Service Management platform, modernizing business processes and automating workflows such as employee on-boarding, facilities management, and loan processing, among others. Further, customers who start using Cherwell in one area can quickly expand usage to help manage service requests elsewhere in the company.
This is a company that has expanded rapidly from a startup with a great idea to a global leader in ESM. We’ve spent the past year working with the Cherwell team on a number of value-creation efforts, in terms of bringing in new talent, improving sales and marketing efficiencies, increasing pricing sophistication, and expanding internationally. We’re excited and proud to continue our partnership with the Cherwell team and look forward to helping them continue to grow.