COLUMBUS, Ohio--(BUSINESS WIRE)--TeamDynamix, a leading IT automation provider, today announced that it has secured an investment from New York-based Level Equity Management while existing investor, K1 Investment Management, will roll a material portion of its proceeds from its exit into the business.
TeamDynamix offers a unified no-code platform for IT Service Management (ITSM/ESM) and Project Portfolio Management (PPM) together – with enterprise integration and automation (iPaaS). The combined platform offers companies enterprise-level functionality with a lower total cost of ownership. Customers across a broad range of industries including financial services, healthcare, hospitality, manufacturing, retail, education, and government migrate to TeamDynamix as the solution offers highly sophisticated automation with a low administrative burden.
“At TeamDynamix, we are hyper-focused on high-touch customer care,” explains Ken Benvenuto, CEO at TeamDynamix. “This hyper-focus drives our high retention rates and new customer acquisition, having more than tripled our customer base in the last four years. As we look forward, we are committed to delivering innovative solutions that further automate the IT organization.”
According to a recent study released by InformationWeek and TeamDynamix, 58% of IT teams spend 2-3 months a year on mundane, manual tasks. By automating these functions, IT leaders can significantly improve how resources are allocated. Common areas to address include basic functions like password resets, onboarding employees, and ActiveDirectory updates. Further, the solution offers the ability to reduce redundant data entry and processing by integrating enterprise solutions such as Workday, SalesForce, DocuSign, and SAP.
"We see tremendous growth ahead for TeamDynamix, as the company is well-positioned to take significant market share in the IT automation space,” states Ben Levin, Co-founder and CEO of Level Equity. “The unique value proposition offered by combining ITSM with PPM and iPaaS is driving their growth. We are equally impressed with the company’s consistent ability to retain and grow its customer relationships."
TeamDynamix was recently recognized as an “Honorable Mention” in 2022 Gartner® Magic Quadrant™ for IT Service Management (ITSM).
“We have intimate knowledge of the TeamDynamix product, team and market, and continue to be excited by the Company’s track record of strong and capital-efficient growth, its large and diversified customer base, and differentiated offerings across various end markets. We welcome TeamDynamix back into our portfolio and look forward to continued partnership with K1 and the management team to further build a category-leading provider of ITSM, PPM, and iPaaS software solutions,” said Charles Chen, Partner of Level Equity.
Work better together. Our philosophy is that technology should be easy to use, own, and operate – so we put IT Service Management (ITSM/ESM) and Project Portfolio Management (PPM) together – on one simple platform with enterprise integration and automation (iPaaS). Life is complicated enough; we make it easier. More at TeamDynamix.com, @TDXBuzz, LinkedIn.
About Level Equity
Based in New York, NY, and San Francisco, CA, Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-driven businesses. Level provides long term capital across all transaction types in support of continued growth. The firm has raised $3.0 billion in committed capital and has made over 85 investments since inception. For more information, visit www.levelequity.com.