New Enterprise Associates and ServiceNow Invest $2M in Nuvolo

Leading Venture Capital Firm and Global Enterprise Cloud Company Complete Seed Round of Funding

NEW YORK – Nov. 18, 2015 – Nuvolo, a leading developer of enterprise applications on the ServiceNow platform, today announced it has secured $2 million in seed funding from New Enterprise Associates (NEA) and ServiceNow. This investment will accelerate product development and the buildout of a global sales organization. Nuvolo is growing exponentially and helping customers expand their use of ServiceNow across enterprise lines-of-business.

“The Nuvolo ‘built-on-ServiceNow’ strategy is a breakthrough in cloud software development,” said Chetan Puttagunta of NEA. “Nuvolo is able to innovate in ways that traditional enterprise software companies cannot. The company is redefining enterprise standards for time-to-value and cloud software innovation. Not only is Nuvolo extending the ServiceNow platform, but it is creating entirely new addressable market segments.”

As an industry-leading independent software vendor (ISV) built on ServiceNow, Nuvolo’ nnovation portfolio includes healthcare, life sciences, manufacturing and facilities asset management solutions for the enterprise. Nuvolo is revolutionizing enterprise asset management (EAM) by innovating on the world’s leading cloud platform.

“Nuvolo is growing platform revenue, acquiring new customers and expanding the ServiceNow footprint within our existing customer base,” said David Schneider, chief revenue officer of ServiceNow. “Their applications create new line-of-business users and provide expansion opportunities for our traditional IT service management customers. This is a strategic investment for ServiceNow, and we look forward to continued momentum within our prospect, customer and partner communities.”

“Nuvolo and ServiceNow are delivering on the promise of a flexible, enterprise cloud platform that easily adapts to meet the needs of our customers,” said Tom Stanford, CEO of Nuvolo. “We use the ServiceNow platform to deliver near real-time innovation and usability to our customers in ways that were previously unachievable with enterprise software applications.”

About Nuvolo

Nuvolo is revolutionizing enterprise asset management by innovating on ServiceNow, the world’s leading enterprise cloud company. Our vision is to be the global leader in cloud-based enterprise asset management, powered by ServiceNow. Our platform is available globally as a traditional enterprise cloud solution or in a domain-separated, multi-tenant environment for managed service providers.

Mary Magnani mary@parkpr.com