Nexthink, a top provider of end-user IT analytics, has raised $40 million in new investment, led by Highland Europe, a leading global venture capital firm.

This is the largest round of funding to date for Nexthink and includes participation from the Bertarelli family’s Waypoint Capital, a statement said.

This latest round brings the total capital raised by Nexthink to $65 million since the company was founded from a research project in artificial intelligence at the prestigious EPFL (Ecole Polytechnique Fédérale de Lausanne) in Switzerland in 2004.

With the Middle East and Asia being a significant contributor to Nexthink’s business growth, 20 per cent of the investment will be allocated towards regional expansion, creating further jobs and building an innovation hub to meet the growing needs of customers.

Nexthink reported record quarterly growth in 2015 for the ninth consecutive year and annual growth of over 50 per cent.

Today the Company has over 600 customers worldwide and some of their key customers in the region include Wipro, Saudi Electricity Company, du, National Commercial Bank, ADCO, Jumeriah Group, and the Ministry of Health UAE.

Equipped with the latest round of funding, Nexthink also moves its US sales headquarters to Boston, the statement said.

“There is universal pain and a big need to have end-user visibility for any IT team world-wide. This latest round enables us to expand in key markets and add new modules to our product roadmap. Many new surprises are coming up very soon,” said Pedro Bados, CEO/president and co-founder of Nexthink.

“We had multiple options to pick the right partners and we truly believe Highland Europe and Waypoint are the perfect choice. We were convinced by their proximity, strong network, financial capabilities and proven track-record in this space.”

"At Highland Europe, we aim to back entrepreneurs with uncapped ambition and technology companies with global market potential,” said Fergal Mullen, founding partner at Highland Europe. “We are delighted to have the opportunity to support Nexthink's founders in the journey ahead with a view to consolidating the Company's leadership position in the end-user IT analytics market and building a very valuable business." – TradeArabia News Service