VictorOps said Monday that it raised more money from investors than it had anticipated. The Boulder firm, which provides technology to help companies better manage IT issues and software development, raised $15 million in Series B funding.
It had previously that it raised $12.2 million, which included funding from Shea Ventures, the venture arm of home builder Shea Homes.
In a statement, Todd Vernon, VictorOps CEO, said: “We received a lot of interest in our Series B financing. It became clear that the round was going to be over-subscribed, and we wanted to take our time to choose the right investors to partner with — firms that share our drive to improve the real-time incident management space and displace competitor solutions.”
Vernon previously shared that the funds will be used for customer acquisition, sales and marketing and continued product development. VictorOps, which employs 45 people, expects to hire another 15 to 25 employees next year. The latest round brings the company’s total funding to about $33 million.
