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Cherwell Software

Topic: Company

 From HandWiki - Reading time: 3 min
Cherwell Software
TypeSubsidiary
IndustryEnterprise software
Founded2004
FounderVance Brown
Arlen S. Feldman
Timothy G. Pfeifer
HeadquartersColorado Springs, Colorado
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
ParentIvanti
Websitewww.cherwell.com
Footnotes / references
As of February 2019

Cherwell Software, LLC, was 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 Northamptonshire and Oxfordshire, England.[3]

History

Cherwell was founded in 2004 by Vance Brown, a former CEO of GoldMine Software (later, a product by Ivanti),[4] Arlen S. Feldman and Timothy G. Pfeifer. Cherwell announced their first product in 2007.

Venture capital

In November 2012, Cherwell received a $25 million investment from Insight Venture Partners.[5] The investment was highly unusual for the industry: 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 did not want to worry about having an exit strategy.[6]

In January 2013, the Service Desk Institute accredited Cherwell service management.[7]

On February 27, 2017, Cherwell secured a $50 million investment from investment firm Kohlberg Kravis Roberts (KKR).[8] In January 2018, Craig Harper resigned as CEO, and was replaced by Vance Brown on an interim basis. On April 4, 2018, an additional $172 million investment from KKR included acquiring much of the Insight Venture Partner stake, made them a majority owner.[9][10] In August 2018, Brown left to lead the National Cybersecurity Center, and Sam Gilliland became chief executive.[11]

On June 4, 2020, Cherwell announced Rob Salvagno of KKR and Drew Harman of Insight Venture Partners joined their board. Dave Welsh from KKR, a board member since 2018 became chairman.[12] In January 2021, Ivanti announced it would acquire Cherwell for undisclosed terms.[13]

Products

The Cherwell Service Management platform (CSM) is a suite of IT service management applications. Cherwell developed and sells applications designed with Information Technology Infrastructure Library (ITIL) methodology. Cherwell Service Management 5.0 was released in September 2014 and 6.0 in August 2015. Products include: incident management, problem management, change management, release management, knowledge management, service level management, asset management, service catalog management, service request fulfillment and project management.

CSM server is available only for Microsoft Windows as is the main client interface.[14]

Cherwell developed mobile applications for iOS and Android but they have since been retired as of September 2019.[15] StrataCom Inc., a Cherwell partner, released a Cherwell mobile app and Kanban boards for Cherwell shortly after this.[16]

Cherwell develops Express Software Manager for IT asset management and software asset management.

References

  1. ↑ "Company About Page". http://www.cherwell.com/about. Retrieved 2012-03-27. 
  2. ↑ "Cherwell Service Management Platform". https://www.cherwell.com/products/it-service-management/. Retrieved 2012-03-27. 
  3. ↑ "Cherwell Home". http://www.cherwell.com. Retrieved 2014-12-17. 
  4. ↑ "Vance Brown recognized as Chamber & EDC's Business Citizen of the Year". Colorado Springs Business Journal. November 8, 2018. https://www.csbj.com/news/daily/vance-brown-recognized-as-chamber-edc-s-business-citizen-of-the-year/article_df65124a-7789-5a7b-962c-669e33e3a8d2.html. 
  5. ↑ Arik Hesseldahl (November 27, 2012). "Cherwell Software Lands $25 Million From Insight Venture Partners". All Things D. http://allthingsd.com/20121127/cherwell-software-lands-25-million-from-insight-venture-partners/. Retrieved November 17, 2021. 
  6. ↑ Nicholas Mukhar (January 31, 2011). "Cherwell Software CEO: We Don't Need an Exit Strategy". MSP Mentor Blog. http://www.mspmentor.net/2011/01/31/cherwell-software-ceo-we-dont-need-an-exit-strategy/. Retrieved November 17, 2021. 
  7. ↑ "SDI Accredits Cherwell Service Management". Press release. February 5, 2013. Archived from the original on February 6, 2013. https://web.archive.org/web/20130206064630/http://www.servicequality.com.au/solutions/cherwell_software/cherwell_software_news/entryid/10.aspx. Retrieved November 1, 2021. 
  8. ↑ Jonathan Shieber (February 27, 2017). "IT services manager Cherwell Software joins private equity giant KKR's growing tech portfolio". Tech Crunch. https://techcrunch.com/2017/02/27/it-services-manager-cherwell-software-joins-private-equity-giant-kkrs-growing-tech-portfolio/. 
  9. ↑ "Cherwell Software of Colorado Springs adds $172M from existing investor KKR". 4 April 2018. https://www.denverpost.com/2018/04/04/cherwell-software-kkr-investment/. Retrieved 2018-08-21. 
  10. ↑ Wayne Heilman (April 4, 2018). "Record purchase deal for Colorado Springs-based Cherwell Software". Colorado Springs Gazette. https://gazette.com/business/record-purchase-deal-for-colorado-springs-based-cherwell-software/article_e2b5c424-b093-5333-a5ea-2f59a1e46b36.html. 
  11. ↑ Wayne Heilman (August 2, 2018). "Colorado Springs software firm brings in former Sabre chief as CEO". Colorado Springs Gazette. https://gazette.com/business/colorado-springs-software-firm-brings-in-former-sabre-chief-as-ceo/article_11401962-94f5-11e8-b21c-43a98c954da2.html. 
  12. ↑ "Cherwell Software Announces Board Appointments". Press release. June 4, 2020. https://www.businesswire.com/news/home/20200604005128/en/Cherwell-Software-Announces-Board-Appointments. 
  13. ↑ Wayne Heilman (January 26, 2021). "Colorado Springs-based Cherwell Software to be sold to Utah company". Colorado Springs Gazette. https://gazette.com/business/colorado-springs-based-cherwell-software-to-be-sold-to-utah-company/article_ba27f456-5fdb-11eb-bd72-cb9078e92e26.html. 
  14. ↑ "Cherwell CSM System Requirements". https://cherwellsupport.com/WebHelp/en/8.2/printed_guides/release_notes/csm_system_requirements.html. Retrieved 2017-05-31. 
  15. ↑ "iCherwell on Apple iTunes". https://itunes.apple.com/au/app/icherwell/id336979109. Retrieved 2012-03-27. 
  16. ↑ "Mobile and Kanban for Cherwell". https://www.stratacominc.com/cherwell-mobile-and-kanban/. Retrieved 2019-10-01. 



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