Oomnitza is a San Francisco-based SaaS company pioneering a modern solution that enables enterprises to gain unified asset inventory analytics, lifecycle management and process automation for their entire technology estate. As organizations contend with increasing multi-cloud and SaaS adoption, hybrid workplace, workforce mobility, and rapid business digitization, Oomnitza provides them a system of record and action for their technology – from endpoints and applications (software and SaaS) to networking and cloud infrastructure. The Oomnitza solution is used by Fortune 500 companies, tech unicorns, and innovative global organizations to address a broad range of security, compliance, audit, experience, and IT spend management initiatives.
Here’s how they were able to build a repeatable and scalable growth engine and position their company as a category-creating leader with the help of Riverside Acceleration Capital’s hands-on guidance and funding over four separate investment rounds.
2019: Growth Acceleration
Following our initial investment rounds, Oomnitza’s growth started to take off. They began to record substantially net negative churn and nearly doubled their revenue in 2019. In our opinion, and we believe in their leadership’s view, the metrics began to demonstrate that the Oomnitza business model had become scalable and repeatable. The Company went to market to raise a new equity round and was able to secure a $12M Series A – which we co-led alongside lead investor Shasta Ventures.
Oomnitza continued its growth trajectory and made a series of senior-level hires during 2020 and early 2021. During this time, Jon Temple joined the RAC team and became an important advisor to Oomnitza and its executives. Jon worked closely with the Oomnitza team to help them refine their ideal customer profile and messaging, which positioned them as the leader in the Enterprise Technology Management space that they were creating.
The repositioning has resonated extremely well with enterprise customers, and Oomnitza has continued to grow.
A $20M Series B and a Long-Term Partnership
With their continued growth, Oomnitza raised a $20M Series B in August of 2021. RAC continued to back the company and participated on a pro-rata basis in the round, making it RAC’s fourth investment in the company.
Today, Oomnitza counts over 180 enterprise customers and has grown their team to over 100 employees. We’ve been privileged to have a front-row seat to their growth over these last five years and look forward to continuing to work with them in the future.
Oomnitza’s CTO, Udo Waibel, has also joined our Strategic Advisory Board as a mentor for our portfolio companies on matters including product strategy and creating a culture of innovation and customer focus. If you’d like to learn more about Riverside Acceleration Capital and the growth resources available to our portfolio, reach out to us at www.riverside.ac.
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