# Cutover

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cutover

- Industry: Software
- Headquarters: London, UK
- Website: www.cutover.com
- Total disclosed funding: $52M
- Latest round: Series B (Feb 11, 2021)
- Investors on record: 8

## About

Cutover, based in the UK, provides a Collaborative Automation platform that enhances IT operations by automating critical processes with AI-powered solutions, thereby improving efficiency and reducing errors across various sectors.Founded in 2013, Cutover, registered as Godesic Limited, operates from its headquarters in London, UK. The company specializes in IT automation solutions and has successfully raised GBP 23.86 mn in Series B funding led by Eldridge Industries. Its founders, Craig Gregory and Lisa Swanson, established the firm to address the complexities of IT operations. The most recent funding round, which closed on February 11, 2021, has brought the total amount raised to GBP 23.86 mn, valuing the company at GBP 150.808 mn.Cutover offers a Collaborative Automation platform that facilitates IT operations through AI-driven automated runbooks. The platform streamlines essential processes such as IT disaster recovery, cloud migration, major incident management, and release management. Its clientele includes major organizations in finance, healthcare, and technology, such as Danske Bank, allowing businesses to standardize procedures and reduce manual errors. Cutover’s solutions are accessible in various global markets, including North America and Europe.In the most recent fiscal year of 2023, Cutover generated revenue of GBP 1.753126 mn. The company's EBITDA for the same year was GBP -1.4266102 mn. Revenue is primarily derived from its subscription model for the Collaborative Automation platform, which includes products like Cutover Recover, Respond, Migrate, Release, and Implement, designed to enhance IT operations for complex environments.Cutover plans to utilize the GBP 23.86 mn from its Series B funding round to expand its operations and business reach. The company aims to develop new products and enhance its platform's capabilities, following its strategy for growth. Specific geographic markets targeted for future expansion have not been disclosed, but the company intends to broaden its presence across its existing regions by leveraging the recent funding.

## Funding rounds

- Series B, Feb 11, 2021, $33M — Index Ventures, Contour Venture Partners, Sussex Place Ventures, Partnership Fund for New York City, Eldridge Industries, Outrun Ventures
- Series A, Sep 25, 2019, $17M — Index Ventures, Barclays Bank, Contour Venture Partners, Sussex Place Ventures, Partnership Fund for New York City, Outrun Ventures
- Seed, Jun 13, 2016, $2.5M — Sussex Place Ventures
- Seed, Mar 23, 2015, $0.1M — Techstars

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Sussex Place Ventures (https://capitalatlas.ai/funds/sussex-place-ventures) — Seed, Series A, Series B
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A, Series B
- Barclays Bank — Series A
- Contour Venture Partners (https://capitalatlas.ai/funds/contour-venture-partners) — Series A, Series B
- Partnership Fund for New York City (https://capitalatlas.ai/funds/partnership-fund-for-new-york-city) — Series A, Series B
- Outrun Ventures (https://capitalatlas.ai/funds/outrun-ventures) — Series A, Series B
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series B