Cherwell Software
{{Short description|American technology company}}
{{Infobox company
| name = Cherwell Software
| logo =
| type = Subsidiary
| foundation = 2004
| founder = Vance Brown
Arlen S. Feldman
Timothy G. Pfeifer
| location = Colorado Springs, Colorado
| industry = Enterprise software
| products = {{unbulleted list|Cherwell IT Service Management Enterprise Service Management Project and Portfolio Management Facilities Solution HR Service Management}}
| services = IT Service Management
IT Asset Management
| parent = Ivanti
| footnotes = As of February 2019
| key_people = Sam Gilliland (CEO)
| homepage = {{URL|https://www.ivanti.com/company/history/cherwell}}
}}
Cherwell Software, LLC, was a privately held American technology company specializing in IT service management software.{{cite web|url=http://www.cherwell.com/about|title=Company About Page|accessdate=2012-03-27}}{{cite web|url=https://www.cherwell.com/products/it-service-management/|title=Cherwell Service Management Platform|accessdate=2012-03-27}} 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.{{cite web|url=http://www.cherwell.com|title=Cherwell Home|accessdate=2014-12-17}}
History
Cherwell was founded in 2004 by Vance Brown, a former CEO of GoldMine Software (later, a product by Ivanti),{{Cite news |title= Vance Brown recognized as Chamber & EDC's Business Citizen of the Year |url= 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 |work= Colorado Springs Business Journal |date= November 8, 2018 |access-date= November 1, 2021 }} 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.{{cite web |url= http://allthingsd.com/20121127/cherwell-software-lands-25-million-from-insight-venture-partners/ |title= Cherwell Software Lands $25 Million From Insight Venture Partners |work= All Things D |author= Arik Hesseldahl |date= November 27, 2012 |accessdate= November 17, 2021 }} 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.{{cite web |url= http://www.mspmentor.net/2011/01/31/cherwell-software-ceo-we-dont-need-an-exit-strategy/ |title= Cherwell Software CEO: We Don't Need an Exit Strategy |date= January 31, 2011 |author= Nicholas Mukhar |work= MSP Mentor Blog |accessdate= November 17, 2021 |archive-url= https://web.archive.org/web/20120226185012/http://www.mspmentor.net/2011/01/31/cherwell-software-ceo-we-dont-need-an-exit-strategy/ |archive-date= February 26, 2012 |url-status=usurped}}
In January 2013, the Service Desk Institute accredited Cherwell service management.{{cite web |url= http://www.servicequality.com.au/solutions/cherwell_software/cherwell_software_news/entryid/10.aspx |title= SDI Accredits Cherwell Service Management |accessdate= November 1, 2021 |work= Press release |date= February 5, 2013 |url-status= dead |archiveurl= https://web.archive.org/web/20130206064630/http://www.servicequality.com.au/solutions/cherwell_software/cherwell_software_news/entryid/10.aspx |archivedate= February 6, 2013 }}
On February 27, 2017, Cherwell secured a $50 million investment from investment firm Kohlberg Kravis Roberts (KKR).{{Cite web |title= IT services manager Cherwell Software joins private equity giant KKR's growing tech portfolio |work= Tech Crunch |author= Jonathan Shieber |date= February 27, 2017 |url= https://techcrunch.com/2017/02/27/it-services-manager-cherwell-software-joins-private-equity-giant-kkrs-growing-tech-portfolio/ |access-date= November 17, 2021 }}
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.{{cite web|url=https://www.denverpost.com/2018/04/04/cherwell-software-kkr-investment/|title=Cherwell Software of Colorado Springs adds $172M from existing investor KKR|date=4 April 2018 |accessdate=2018-08-21}}{{Cite news |title= Record purchase deal for Colorado Springs-based Cherwell Software |url= https://gazette.com/business/record-purchase-deal-for-colorado-springs-based-cherwell-software/article_e2b5c424-b093-5333-a5ea-2f59a1e46b36.html |work= Colorado Springs Gazette |author= Wayne Heilman |date= April 4, 2018 |access-date= November 17, 2021 }}
In August 2018, Brown left to lead the National Cybersecurity Center, and Sam Gilliland became chief executive.{{Cite news |title= Colorado Springs software firm brings in former Sabre chief as CEO |url= https://gazette.com/business/colorado-springs-software-firm-brings-in-former-sabre-chief-as-ceo/article_11401962-94f5-11e8-b21c-43a98c954da2.html |work= Colorado Springs Gazette |author= Wayne Heilman |date= August 2, 2018 |access-date= November 17, 2021 }}
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.{{Cite web |work= Press release |date= June 4, 2020 |title= Cherwell Software Announces Board Appointments |url= https://www.businesswire.com/news/home/20200604005128/en/Cherwell-Software-Announces-Board-Appointments |url-status=live|archive-url=https://web.archive.org/web/20200612144131/https://www.businesswire.com/news/home/20200604005128/en/Cherwell-Software-Announces-Board-Appointments |archive-date=2020-06-12 |access-date= November 17, 2021 }}
In January 2021, Ivanti announced it would acquire Cherwell for undisclosed terms.{{Cite news |title= Colorado Springs-based Cherwell Software to be sold to Utah company |url= https://gazette.com/business/colorado-springs-based-cherwell-software-to-be-sold-to-utah-company/article_ba27f456-5fdb-11eb-bd72-cb9078e92e26.html |work= Colorado Springs Gazette |author= Wayne Heilman |date= January 26, 2021 |access-date= November 17, 2021 }}
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,
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.{{cite web|url=https://cherwellsupport.com/WebHelp/en/8.2/printed_guides/release_notes/csm_system_requirements.html|title=Cherwell CSM System Requirements|accessdate=2017-05-31}}
Cherwell developed mobile applications for iOS and Android but they have since been retired as of September 2019.{{cite web|url=https://itunes.apple.com/au/app/icherwell/id336979109|archive-url=https://web.archive.org/web/20151118191827/https://itunes.apple.com/au/app/icherwell/id336979109|url-status=dead|archive-date=November 18, 2015|title=iCherwell on Apple iTunes|website=iTunes |accessdate=2012-03-27}}
StrataCom Inc., a Cherwell partner, released a Cherwell mobile app and Kanban boards for Cherwell shortly after this.{{cite web|url=https://www.stratacominc.com/cherwell-mobile-and-kanban/|title=Mobile and Kanban for Cherwell|accessdate=2019-10-01}}
Cherwell develops Express Software Manager for IT asset management and software asset management.