“This investment by Vista endorses the leadership position we’ve built to date and provides us with an incredible opportunity to leverage their intellectual capital and portfolio of resources to continue to scale our own business,” said Kevin McGibben, President and CEO of LogicMonitor, of the acquisition.
McGibben saw investment from Vista as an opportunity to expand LogicMonitor and propel growth. Indeed, after the acquisition, LogicMonitor grew not only in size but also its market. In early 2019, LogicMonitor began expanding into the Australian market. LogicMonitor rounded out 2019 with a year of record growth, 60% year-over-year growth, in fact, and an expanded internal footprint. With Vista’s backing, the company added new locations in Austin, London, Sydney and Pune, India and hit significant milestones with 500 employees spread across nine global offices, 75,000 platform users in thousands of companies worldwide, 1.4 million active devices monitored, 2,000 out-of-the-box integrations, the development of AIOps capabilities and partner network expansion. Additionally, the company more than doubled in headcount since the 2018 acquisition.
While a challenging year for the industry-at-large, LogicMonitor reported progress in 2020. For example, in January 2020, LogicMonitor acquired Sweden-based AIOps company Unomaly. In partnership with Vista and Quick Base, LogicMonitor also developed the COVID-19 Small Business Loan Accelerator. This publicly available online diagnostic tool allows small business owners to quickly evaluate their eligibility for and prepare applications to financial assistance programs offered by the Small Business Administration and the CARES Act.
In recognition of LogicMonitor’s achievements in 2020, they won the 2021 Best of Customer Support Award from TrustRadius. In addition, LogicMonitor was honored to receive the 2021 Managed Service Provider (MSP) Innovation Award for Best MSP Partner Program, among other honors based on client and customer feedback and reviews.
Founded by philanthropist and entrepreneur Robert F. Smith in 2000, Vista Equity Partners is a leading investment firm, dedicated to helping improve software, data and technology-enabled businesses throughout the world. Utilizing decades of experience and tried and true private equity, permanent capital, credit, and public capital strategies, Vista helps its businesses reach their fullest potential. Furthermore, Vista’s leadership strategies not only provide incredible results for its companies but also the company stakeholders. Vista is headquartered in Austin and operates locations in Chicago, New York, Oakland and San Francisco.
Philanthropy has always been a top priority for Vista. With this in mind, Vista supports organizations in many communities throughout the world, especially in the communities of its businesses’ locations. Vista’s goal is to help create a generation that can move technology forward, supporting organizations that expand STEM education and resources. And moreover, Vista is also a proud supporter of organizations that further facilitate job training, increase access to education and the arts and protect the environment.
To learn more about Vista Equity Partners, connect with Vista on LinkedIn and YouTube.