Listen to this articleFounded in 2013, Nuvolo is a software company offering cloud-based asset management solutions built on an enterprise cloud infrastructure ServiceNow. Their platform is seamlessly integrated providing both online and offline multiplatform capabilities. The company is primarily focused on healthcare but aims to expand into other industries as well.
To find our more about their platform we sat down with Tom Stanford, CEO of Nuvolo:
Q: You’ve recently announced $10M in Series A Round; could you tell us something more?
A: We funded the business initially through cash from operations for the first two years, then raised a $2M series seed with NEA and ServiceNow and used that capital to accelerate growth of Nuvolo and maximize valuation for the Series A.
Q: How would you describe Nuvolo in your own words?
A: ServiceNow is an enterprise-focused cloud infrastructure. Software companies like Nuvolo can build cloud-based solutions on top of the ServiceNow infrastructure. So Nuvolo is a software company and in fact were ISV of the Year for ServiceNow. Consider healthcare, for example. Think of all the thousands of medical devices a hospital needs to manage. Each one has to be tracked in terms of location, safety record, calibration and more. Nuvolo’s healthcare asset management creates a single cloud system for managing these devices.
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Q: What kind of solutions do you offer to your customers?
A: CMMS is the term for older gen solutions that we replace. They were inflexible, required customized development, they were narrow in scope… So we replace all that with a modern, flexible architecture. The ServiceNow cloud Infrastructure provides us with that flexible foundation. And Nuvolo built application-specific solutions that replace old-style CMMS systems with what the Industry calls Enterprise Asset Management. One final point, we don’t do just medical and clinical, we also target facilities and asset management is every industry, including healthcare (hospitals) and manufacturing.
We provide full life cycle management of medical, facilities and laboratory equipment and devices on behalf of healthcare providers, life sciences organizations and pharmaceutical manufacturers. The Nuvolo platform is also expanding into management of enterprise assets in high tech manufacturing and convenience retail.
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Q: Who are the primary clients of Nuvolo?
A: Nuvolo manages more than 3,550 hospitals and 5.5M enterprise assets on our platform in the US, Canada and Europe. Our customers include some of the largest local and regional healthcare systems in the US and healthcare original equipment manufacturers, service providers and outsourcers. Our customer base also includes a growing list of pharmaceutical and life sciences organizations.
Q: What are your plans for the future?
A: We’re using the Series A to double the global sales team, double innovation team (R&D), accelerate build out of global customer care and customer success organizations and expand marketing spend.
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