DEVOPSdigest

xMatters closed $42 million in long-term financing with Golub Capital Late Stage Lending group.

“In the last several years we have delivered 17 consecutive quarters of recurring revenue growth as our customers transition toward the agile, lean methodologies necessary to support their digital aspirations,” said Troy McAlpin, CEO of xMatters. “We have recently opened several new global data centers, and are very well-positioned to continue expanding our operations, accelerating our growth, and investing further in developing new tools and applications to benefit our customers. Golub Capital and JMI Equity have provided us with a long-term strategy to drive our current and future expansion plans.”

In this recent quarter alone, xMatters added 40 new global customers to its cloud service and observed a 35 percent year-over-year revenue increase, as well as a dollar-value customer retention level of over 96 percent. Recently named one of the Best Workplaces by Fortune, xMatters has optimized its customer service process to respond in a median time of less than two minutes, with 91 percent of all customer support tickets closed in one business day or less. It also achieved 99.98 percent uptime globally, with rates as high as 100 percent in several regions.

“xMatters is a rapidly-growing market leader in providing enterprises with critical incident communication and resolution tools,” said Peter Fair, Managing Director at Golub Capital. “The company’s solutions demonstrate a proven ROI in a world where downtime and disruptions have immediate, negative impacts on a company’s bottom-line. We couldn’t be more pleased to be partnering with JMI Equity and xMatters management to help drive the company’s continued momentum.”

“We have seen xMatters continue to invest wisely and grow over the last few years, improving major incident management and DevOps processes for enterprises globally,” said Peter Arrowsmith, General Partner at JMI Equity. “We are pleased to partner with Golub Capital in supporting xMatters’ continued strong trajectory in the years ahead.”