Firstbase will use the funding to increase its team size and accelerate product development. Here are the top-line bullets you need to know.
Firstbase, an IT asset management startup, has raised $50M in a Series B. The round drew participation from Kleiner Perkins Caufield & Byers, Forum Ventures, and Andreessen Horowitz.
How’s the company performing?
- New York-based Firstbase helps organizations supply and manage remote employee devices.
- The company has experienced 16x revenue growth as well as 7x customer growth since April 2021.
- Since April 2021, Firstbase’s headcount has grown 5x to reach 50 employees.
- The company is headquartered in New York and Scotland.
Why does the market matter?
- The global IT asset management market is expected to reach a value of $2.1B by 2026, growing at a CAGR of 11.4%, according to Mordor Intelligence.
- The growing demand for integrated IT systems and infrastructure around the world — particularly amid the rise of remote work during the pandemic — is a major factor spurring the market’s growth.
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