Cherwell Software

Cherwell Software is a privately held American technology company specializing in IT Service Management software.[1][2] The company headquarters is in Colorado Springs, Colorado. It also has offices in Swindon, UK. The company name is taken from the River Cherwell, which runs through Oxford, England.[3]

Cherwell Software
TypePrivate
IndustryEnterprise software
Founded2004
FounderVance Brown
Arlen S. Feldman
Timothy G. Pfeifer
HeadquartersColorado Springs, CO, U.S.
Key people
Sam Gilliland (CEO)
Products
  • Cherwell IT Service Management Enterprise Service Management Project and Portfolio Management Facilities Solution HR Service Management
ServicesIT Service Management
IT Asset Management
Websitewww.cherwell.com
Footnotes / references
As of February 2019

History

Founders

Cherwell was founded in 2004 by Vance Brown, a former CEO of GoldMine (now a product by Ivanti), Arlen S. Feldman and Timothy G. Pfeifer. Cherwell launched Cherwell Service Management in 2007.

Venture Capital Investment

In November 2012, Cherwell received a $25 million investment from Insight Venture Partners in order to accelerate their rapid growth.[4] The investment was highly unusual for the industry as in exchange for their capital investment, Insight Venture was only granted common stock in the company and did not receive control over day to day operations. CEO Vance Brown told the media that he structured this deal in order to "plan to retire doing Cherwell" and "not have to worry about having an exit strategy like [his] competitors"[sic].[5]

On February 27, 2017, Cherwell secured a $50 million investment from KKR, a global investment firm. KKR is making the investment through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services.

As of April 4, 2018, it was reported that Cherwell had raised $172 million from KKR since their original $50 million investment, and that KKR has become a majority owner.[6]

Company Milestones

In January 2013, the Service Desk Institute accredited Cherwell Service Management as the "first service desk software solution in the world to be compliant with its international service desk metrics and reporting standard".[7]

Products

The Cherwell Service Management platform (CSM) is a suite of service management applications. CSM enables the rapid development of data-centric applications that can share a common data repository and utilize the same standard configuration tools. Users of the platform are also able to build custom applications on top of the same platform, using the tools and database that Cherwell provides. Cherwell has developed and sells applications designed in line with ITIL methodology. Cherwell Service Management 5.0 was released in September 2014 and 6.0 in August 2015.

The company has productized the following ITSM applications:

CSM server is available only for Microsoft Windows as is the main client interface.[8]

Cherwell had also developed the Cherwell Mobile applications for iOS and Android but they have since been retired as of September 2019.[9]StrataCom Inc., a Cherwell Partner, released a Native Cherwell Mobile App and Kanban Boards for Cherwell shortly after this.[10]

Cherwell develops Express Software Manager for IT Asset Management and Software Asset Management.

Board Members

On 4 June 2020, Cherwell Software invited to the Management Board Rob Salvagno, co-head of KKR's Next Generation Technology Growth team in North America, and Drew Harman, managing partner of Insight Venture Partners. Furthermore, Dave Welsh, a board member since 2018 and head of TMT Growth Equity at KKR, has been elected Chairman of the Board.[11]

References
  1. "Company About Page". Retrieved 2012-03-27.
  2. "Cherwell Service Management Platform". Retrieved 2012-03-27.
  3. "Cherwell Home". Retrieved 2014-12-17.
  4. "Cherwell Software Lands $25 Million From Insight Venture Partners". Retrieved 2012-03-27.
  5. "Cherwell Software CEO: We Don't Need an Exit Strategy". Archived from the original on 2012-02-26. Retrieved 2012-03-27.
  6. "Cherwell Software of Colorado Springs adds $172M from existing investor KKR". Retrieved 2018-08-21.
  7. "SDI Accredits Cherwell Service Management". Archived from the original on 2013-02-06. Retrieved 2012-03-27.
  8. "Cherwell CSM System Requirements". Retrieved 2017-05-31.
  9. "iCherwell on Apple iTunes". Retrieved 2012-03-27.
  10. "Mobile and Kanban for Cherwell". Retrieved 2019-10-01.
  11. "Cherwell Software Announces Board Appointments". businesswire. 4 June 2020. Retrieved 30 June 2020.
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