Index Ventures leads $17m series-A for Cutover

Sussex Place Ventures, Contour Ventures, Partnership Fund for New York City and Outrun Ventures also took part in the investment.

Following the deal, Index Ventures' Ari Helgason will join the company's board of directors.

The company intends to use the fresh financing to sharpen its client engagement, strengthen its sales organisation, broaden its market reach and enhance the existing platform.

Previous funding
Following an initial seed round of approximately $120,000 in 2015, Cutover raised $2.5m in funding from early-stage investor Sussex Place Ventures in June 2016.

Company
Established in 2013 and headquartered in London, Cutover provides companies and organisations with data-centre migration, service recovery and cross-functional visibility. It claims its platform allows businesses to manage dynamic flows of work, get structured and informative data, improve optimisation, reduce risk and enable operational stability.

Cutover is currently used by 14 global financial services companies, including several international investment banks, as well as businesses operating in the pharma, retail and hospitality sectors.

People
Index Ventures – Ari Helgason (partner).
Cutover – Ky Nichol (CEO).

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