Adams Street helps Boundary raise $22m


money dollar lend borrowIT infrastructure monitoring technology company Boundary has raised $22m in a Series C round led by new investor Adams Street Partners.

Triangle Peak Partners also participated in the round alongside existing backers Lightspeed Venture Partners and Scale Venture Partners.

The company said it will use the funds to continue to develop its products and expand its sales and marketing teams.

The Series C round brought Boundary’s fundraising total to $41m.

Adams Street principal Mike Zappert said, “The IT Operations Management market is an estimated $20 billion industry dominated by legacy solutions, and like the disruption we are seeing in many other spaces, Boundary is leading the charge.

“We spoke to many Boundary customers and found a consistent theme around the unique and highly-valuable visibility provided to them. Multiple customers told us that they found and resolved problems using Boundary that their existing solutions didn’t even see.

“The Boundary technology combined with the amazing, proven team will lead infrastructure monitoring into the modern era.”

Last month three of Adams Street’s portfolio companies launched IPOs in successive days.

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