About Cutover
Cutover is a privately held[1] British software company based in London, UK and New York City, USA that provides a SaaS-based Collaborative Automation[2] runbook platform to help enterprises orchestrate IT operations such as disaster recovery, cyber recovery, cloud migration, technology implementation, and release management. Its customers include major US and EMEA banks as well as other large enterprises. Cutover was founded in 2013[3] by Ky Nichol, Marcus Wildsmith, Kieran Gutteridge and Craig Gregory and raised $35 million[4] in its latest 2021 Series B funding round.
Cutover history
Prior to founding Cutover, Ky did undergraduate work with NASA developing impact crater mathematical models related to the Shuttle Programme, then went on to work with the European Space Agency on the International Space Station.[5] After observing the precision of human and machine collaboration involved in space operations, he felt there was a human/machine orchestration technology gap that made managing other technology-related processes challenging. Together with co-founders that had similar experiences in different industries this led to the creation of Cutover’s automated runbooks.
In 2015 Cutover joined the Barclays Techstars Accelerator and raised a pre-seed funding round.[6] This was followed in 2016 by a seed round with Sussex Place Ventures for $2.5 million.[7] Then, in 2016 Cutover joined the London Fintech Innovation Lab[8] to collaborate with some of the world largest EMEA-focused financial institutions. Following the success of this they opened up in the US[9] market, basing themselves in New York City and joining the Fintech Innovation Lab New York in 2018, an accelerator program run by the Partnership Fund for New York City and Accenture.
In November 2019, Cutover raised $17 million in a Series A funding round led by Index Ventures, Partnership Fund for New York, and Outrun Ventures.[10] Most recently, Cutover raised $35 million in its 2021 Series B[11] funding round led by Eldridge Industries LLC with participation from existing investors Index Ventures SA, Sussex Place Ventures Ltd. and Contour Venture Partners[12]
Cutover now operates in the United States and Europe and has over 120 employees. Many of the world’s largest organizations use Cutover for IT operations to reduce risk and increase efficiency. For example, Cutover has enabled customers to fail over thousands of applications and services to meet recovery time objectives, with governance, control, and visibility. In addition, the Cutover platform enables its customers to meet regulatory requirements with immutable audit logs. Cutover is used as the system of execution for both testing and live recovery events.
- ^ "PitchBook". September 28, 2023.
- ^ "How collaborative automation can accelerate digital transformation". 2022-09-08. Retrieved 2024-04-29.
- ^ "Pagan Research". September 28, 2023.
- ^ "Cutover banks $35M for its work orchestration platform". SiliconANGLE. 2021-03-03. Retrieved 2024-04-29.
- ^ "One to watch #4: Work orchestration and observability startup Cutover". The Stack. 2021-03-03. Retrieved 2024-04-29.
- ^ "Crunchbase". September 28, 2023.
- ^ "Cutover Seed round, June 2016". Golden. Retrieved 2024-04-29.
- ^ "Taking flight: Cutover one year on | Barclays". home.barclays. Retrieved 2024-04-29.
- ^ "Built in NYC". www.builtinnyc.com. Retrieved 2024-04-29.
- ^ "Cutover Raises $17 Million to Accelerate Enterprise Transformation and Operational Excellence". Index Ventures. Retrieved 2024-04-29.
- ^ "VentureBeat". September 28, 2023.
- ^ "Cutover Completes $35 Million Series B". www.goodwinlaw.com. Retrieved 2024-04-29.