ThousandEyes, the company redefining network performance management, today announced that it has closed $20 million in Series B funding. Sutter Hill Ventures led the round, which also included Salesforce Ventures, existing investor Sequoia Capital and Silicon Valley angels. The funding will be used to continue ThousandEyes' rapid customer adoption by accelerating product innovation, expanding presence in North America and Europe and launching a free version of the ThousandEyes product. The press release on the free version released today can be found here.
ThousandEyes emerged from stealth in 2013 and launched a revolutionary new product that - for the first time - provides detailed network visibility all the way from enterprise networks to cloud applications. The company has experienced rapid adoption by customers such as Equinix, Flextronics, ServiceNow and Twitter, as well as four of the top six global largest banks, eBay and other members of the Fortune 500. Since launch, ThousandEyes has been recognized as a 'Cool Vendor' by Gartner, been named a 'Vendor to Watch' by Enterprise Management Associates and received the Network Innovation Award from TechTarget.
"Legacy solutions built for closed networks simply don't provide the visibility and forensics needed for today's increasingly virtualized, cloud-based network infrastructures," said Mohit Lad, ThousandEyes CEO and Co-Founder. "The strong adoption and recognition we've received since launching last year is testament to the large gap ThousandEyes is filling for modern enterprise networks. This new round of funding will enable us to accelerate the innovations we're bringing to our users, scale to reach more organizations in more places and deliver value to more people with our new free ThousandEyes version."
Stefan Dyckerhoff, Managing Director at Sutter Hill Ventures, has joined the ThousandEyes board. He brings extensive network industry experience from his time at Cisco leading the Enterprise routing and security business and as a founding member of Juniper Networks' engineering team.
Dyckerhoff said: "The age old problem of network and application performance management is getting infinitely harder with cloud adoption. ThousandEyes delivers a unique solution that preserves the benefit of cloud while delivering the performance management capabilities that an enterprise needs. In addition to their technology edge in solving this difficult problem, the excitement I heard from ThousandEyes high-profile customers is what caught my attention. Sutter Hill Ventures is thrilled to be partners in their accelerating growth."
ThousandEyes, the Internet and Cloud Intelligence company, delivers the only collectively powered view of the Internet enabling enterprises and service providers to work together to improve the quality of every digital experience. The ThousandEyes platform leverages data collected from an unmatched fleet of vantage points throughout the global Internet, from within data centers and VPCs and on end user devices to expose key dependencies that impact digital service delivery, empowering businesses to see, understand and improve how their customers and employees experience any digital website, application or service. ThousandEyes is central to the global operations of the world's largest and fastest growing brands, including 160+ of the Global 2000, 85+ of the Fortune 500, 6 of the 7 top US banks, and 20 of the 25 top SaaS companies. For more information, visit www.ThousandEyes.com or follow us on Twitter at @ThousandEyes.
About Sutter Hill Ventures
Sutter Hill Ventures has financed technology-based start-ups and assisted entrepreneurs in building market-leading companies since 1962. Through our decades of experience, we have developed strong industry networks, considerable operating and venture capital experience, and an understanding of the challenges that early-stage and high-growth companies face. http://www.shv.com.