Flux7 Raises Funding to Meet Increasing Demand for Services to Improve Enterprise Agility
Investment to fuel company growth in delivering a practical experience for building and scaling IT infrastructure and services to accelerate innovation
Austin, TX — April 16, 2019 — Flux7, a professional services and technology company that helps enterprises prepare their IT platform for the agile enterprise, announced today it has closed a round of funding from NewWave Partners, LLC. On the heels of rapid growth, the funding will be used to expand Flux7’s DevOps consulting services through further investment in repeatable processes and intellectual property to speed customer time to results. The investment will also help build capabilities in emerging technology and platforms, expand regional sales teams, scale partner relationships, and further develop customer training solutions to aid enterprises in the adoption of skills related to new technologies and approaches like DevOps.
Sagar R. Lagisetti, a NewWave partner and executive director for Magnum Opus IT, an SAP Service Partner, also joins the Flux7 Board of Directors. Mr. Lagisetti brings more than 20 years of experience in related markets, business, manufacturing, technology integration and consulting. Prior to his leadership position at Magnum Opus IT and Opel Systems, Inc, Mr. Lagisetti has held several lead consulting positions at companies in the cable and automotive industries including Corning Optical Communications, Dura-Line, Corning Display Technologies, Volkswagen of America and General Motors.
“What sets Flux7 apart from other professional services organizations is the company’s ability to integrate consulting, implementation and coaching modalities in a way that makes it easy for enterprises to adapt in what is a rapidly changing technology landscape. With their focus on gaining results in short time horizons, Flux7 is in a position to help enterprises make rapid advances for true enterprise agility,” said Mr. Lagisetti. “I’m proud to join the Flux7 Board of Directors and support the company during this important period of growth,” Mr. Lagisetti concluded.
“We founded Flux7 with the big dream to liberate people from workplace mundanity and make it possible for organizations to experiment more, fail cheap, and measure results accurately in the digital world. We remain committed to growing at a pace that maintains our internal culture while serving as an innovation lab for our customers,” said Aater Suleman, CEO, and co-founder of Flux7. “Sagar Lagisetti and the NewWave team are accomplished technology executives who bring deep connections to industry leaders who are shaping the future of business. We are honored to have him on our board and look forward to his contributions as we continue to expand Flux7,” Mr. Suleman continued.
Demand For IT platforms that Deliver Rapid, Continual Customer Value
According to a recent McKinsey survey of 2,500 business leaders, three-quarters of respondents say organizational agility is a top or top-three priority, and nearly 40 percent are currently conducting an organizational-agility transformation. However, the rapid rate of change in technologies needed to support this digital transformation can pose a challenge. According to the Cost of Cloud Expertise Report (2017), 60% of 5,600 global executives reported a struggle to keep workforce skills relevant and up-to-date during periods of technological change (Turkington, Joshi and Snedaker, 2018).
Flux7 addresses this requirement by providing a framework and technology platform to quickly and securely adopt, implement, operate and scale enterprise IT platforms. As a result of customer demand for modern IT platforms, Flux7 saw customer contracts increase 247 percent year-over-year in the first quarter of 2019. This momentum builds on Flux7’s success, as it closed 2018 with cumulative three-year revenue growth of 547 percent, which contributed to its rank on the top 20% of the 2018 Inc. 5000 list of fastest-growing private companies in the US.
Flux7’s focus on innovation and emphasis on creating a great place to work has meant the company continues to attract top DevOps talent in a competitive market growing its headcount in 2018. Strengthening Agile methodologies across the company has meant that these practices can be passed along to help customers on their journey to enterprise agility.
About NewWave Partners, Inc.
New Wave Partners, Inc. builds new companies by working with founding teams as board members, by raising new investment capital and by developing go-to-market strategies. New Wave Partners Inc. is located in the San Francisco Bay Area and is active in projects in the United States, Canada, Europe, Japan, China, Korea, Southeast Asia and the Middle East. Learn more at http://www.newwavepartners.com/
Enterprises bring solutions to market faster and provide better customer experiences with Flux7 services and technologies for extreme automation. Flux7 customers accelerate DevOps adoption and IT modernization projects through a modular service structure and Enterprise DevOps Adoption Framework and platform which provides guidelines and principles to consistently meet business and technical requirements. Learn more at https://www.flux7.com, get real-world information about IT modernization and DevOps at https://blog.flux7.com/ or follow us on Twitter @Flux7Labs.
Flux7 Media Contact: