Cherwell Software Secures $50 Million Investment from KKR to Further Advance Service Management Leadership - Seite 2

The KKR investment follows a particularly strong 2016 for Cherwell. 2016 highlights included:

• Record bookings and a record number of new customers, including marquis brands across transportation, financial services, healthcare, retail, government, manufacturing, and higher education

• Acquisition of Advanced Marketplace, an IT consulting firm specializing in development of business solutions for the Cherwell^® Service Management platform, signaling Cherwell's commitment to accelerate its delivery of enterprise service management solutions

• Appointment of Craig Harper as Cherwell's Chief Executive Officer; and Patrick Malaperiman, Vice President, EMEA

Establishment of strategic partnerships with Microsoft^® Azure^® and Amazon Web Services (AWS), demonstrating Cherwell's continued commitment to customer choice through flexible deployment options including on-premises, SaaS hosted by Cherwell, or hosted on the public cloud-and the ability to switch any time at no cost

"Cherwell's continued double digit market share growth can be attributed to the flexible and competitive licensing, deployment, and pricing options of its platform," said Robert Young, Research Director, ITSM and Client Virtualization Software, IDC. "Likewise, with the company's recent product enhancements in the performance and scalability of its platform, as well as public cloud hosting options and integrations, IDC believes that Cherwell is well positioned to increase its enterprise adoption and maintain an aggressive growth trajectory."

About Cherwell Software

A global leader in IT and enterprise service management, Cherwell Software empowers IT to lead through the use of powerful and intuitive technology that enables better, faster, and more affordable innovation. The Cherwell^® Service Management platform is built from the ground up with a unique codeless architecture that enables rapid time to value, infinite flexibility, and frictionless upgrades every time-at a fraction of the cost and complexity of legacy solutions. Because of Cherwell's focus on delivering solutions that are easy to configure, customize, and use, IT organizations extend the Cherwell platform to solve a wide range of IT and business problems. With an unwavering commitment to putting customers first and being easy to do business with, Cherwell enjoys 98%+ customer satisfaction. Cherwell has a global network of expert partners serving customers in more than 40 countries. Corporate headquarters are in Colorado, USA, with global offices in the United Kingdom, Germany and Australia.