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Nuvolo Raises $10M to Advance Enterprise Asset Management in the Cloud

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Posted June 22, 2017 By Sean Michael Kerner     Feedback

Startup builds on top of ServiceNow to help organizations manage assets.

Cloud-based Enterprise Asset Management vendor Nuvolo announced on June 22 that it has raised a new $10 million round of funding. The company was founded in 2013 and had previously raised $2 million in seed funding.

The Series A funding round was led by GE Ventures and included the participation of New Enterprise Associates (NEA) and ServiceNow Ventures.

The Nuvolo platform is built on ServiceNow, which provides a Software-as-a-Service (SaaS) cloud foundation for IT Service Management. Asim Rizvi, CTO of Nuvolo, had previously worked at financial services firm UBS as head of ITSM and ServiceNow functions.

"Nuvolo continues to deliver innovative applications for ServiceNow customers in regulated industries such as life sciences, pharmaceuticals and healthcare," said Dominic Phillips, vice president at ServiceNow Ventures, in a statement.

The Nuvolo EAM service is targeted at healthcare, life sciences and regulated manufacturing industries. Nuvolo today claims that it manages over 5.8 million clinical devices deployed across more than 3,125 healthcare providers.

Tom Stanford, CEO of Nuvolo, said, "We are leading the industry by transforming the way that organizations manage, track, maintain and measure their enterprise assets, work spaces, facilities and suppliers."

Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.

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