ANN ARBOR—Lakeside Software, the Ann Arbor developer of digital experience monitoring software, announced an equity investment by the New York City-based venture capital and private equity firm. The amount and terms of the investment were not disclosed.
Lakeside officials said they would use the funding to accelerate product development and drive the expansion of its SysTrack Digital Experience Monitoring (DEM) suite.
SysTrack’s cloud-delivered platform allows IT managers to monitor more than 10,000 data points across all endpoints through a single platform. With this wealth of data, SysTrack is an essential workplace analytics tool, allowing IT to predictively and proactively address issues, intelligently approach software and asset optimization, and power ongoing digital transformation of enterprise IT.
“Enterprises globally are focused on ensuring high-quality, productive digital experiences for their employees. Lakeside’s SysTrack enables IT to boost employee productivity, reduce costs and proactively address performance issues with AIOps and self-healing,” said Michael Schumacher, Lakeside founder and CEO.
The investment comes as Lakeside reports record growth in adoption of its products and services for 2019. Lakeside powers IT visibility for industry leaders in every sector, including Air Canada, E*Trade, Ford, Geisinger Health, General Mills, Progressive Insurance, and Standard Chartered. In 2019, Lakeside announced general availability of SysTrack 9, which introduced powerful AIOps tools for automated detection and remediation of issues at the endpoint and an exciting product roadmap for 2020.
“Lakeside has the deepest technical solution for monitoring digital experience, purpose-built for the most expansive and demanding enterprises,” said Michael Triplett, managing director at Insight Partners, who has joined Lakeside’s board.
“Michael and his team have built the leading solution for Digital Experience Monitoring,” said Henry Frankievich, vice president at Insight Partners, who has also joined Lakeside’s board. “Insight’s expertise in helping companies rapidly scale will greatly benefit Lakeside’s partners and customers.”