IT Services: the 2 most important rounds in the sector

Integral service around a transaction
BY : Diego GutiérrezJuly Fri, 2020

Gartner defines information technology services or IT as the application of business and technical knowledge to enable organisations to create, manage and optimise or access business information and processes. On the basis of this information, it could be said that this sector, called IT Services is a sector that can be segmented in a number of ways, for example, according to the type of expertise used to provide the service. Or, on the other hand, it can be segmented according to the definition of services, which is a very broad definition.

This sector is growing exponentially, especially in these times in which we live, due to the COVID-19 pandemic that we are suffering globally. Businesses are increasingly looking to contract services ITThe technology companies need to make themselves known in the face of the extensive competition that is taking place at the moment.

Accordingly, in this report we will focus on the most important funding rounds according to the database of CrunchBase. These are those carried out by Nxtra Data and SensorUp.

Funding round conducted by Nxtra Data

Nxtra Data's funding round in the IT services sector

Nxtra Data is a company dedicated to leading innovation and embracing disruption with its cloud-managed services. It does this by focusing its services in a smart, secure and reliable way. It is headquartered in India, a country with a bright future in this industry. Thanks to this round of financing, the company will be able to raise the money to be able to face the competition and become not only a leader in its country, but also have an outstanding presence on the international stage.

Regarding the operation, the financing round, carried out on 01/07/2020, consists of an amount of 235.000.000$, being the only round the company has ever done. The main and only investor in the operation was The Carlyle Group. This company is a global investment firm, being one of the world's largest investment firms. private equity (private equity) and alternative asset management. In conclusion, I would like to highlight the great value of this operation. 

Funding round conducted by SensorUp

Headquartered in Canada, the company works with individuals who are responsible for large physical operations, typically spread across wide geographic locations. Today, most of its clients work in oil and gas, public safety, logistics and the military. It helps collect, cleanse and aggregate their IoT (Internet of Things) data so they can examine and analyse it across all aspects of their business.

As for the financing operation carried out on 08/07/2020, it is known that the amount was 6,000,000$, with a total financing of 7,908,828$. As can be seen, this round of financing is the largest it has done so far. Its main investor is Evok Innovations but they are also present Bluesky Equities, Export Development Canada, Vanedge Capital, InterGenalmost all of them, with the exception of the last one, Canadian investment companies.

You may be interested in: IT Services and the 3 most recent funding rounds in the sector

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