Cherwell Software Turns to VCs for Capital and Insight
November 28, 2012
Insight Venture Partners has provided Cherwell Software, the provider of a multifaceted IT service management platform, with $25 million in equity financing to fund the company’s current international expansion and the development of new applications and services. With offices on both sides of the Atlantic, Cherwell has attracted more than 400 customers and achieved profitability without taking outside money. In addition to the new capital, the team at Insight Ventures offers extensive industry experience. As part of the deal, Richard Wells, a managing director with the firm, will join the board of directors at Cherwell.