ThousandEyes Closes Fiscal Year 2020 With Momentum Fueled by Significant Customer Growth, Product Innovation, Global Expansion and Industry Recognition
ThousandEyes, the Internet and Cloud Intelligence company recognized by Deloitte as one of the fastest growing companies in North America in 2019, today shared year-end results and key accomplishments from its fiscal year ending January 31, 2020 (FY20). ThousandEyes' total customer contractual commitments surpassed $100M in FY20, growing almost 80% YoY. Multi-year customer commitments accounted for over half of FY20 ARR as SaaS, Cloud and SD-WAN adoption continued to skyrocket, driving significant demand for Digital Experience Monitoring. The company drove growth across every key dimension of its business, with significant global enterprise customer growth, employee growth, geographic expansion, key additions to its executive team and board of directors, industry recognition, product innovation, and more.
"We built this company from the ground up knowing that the cloud would become the new data center, the Internet the new network, and SaaS the new application stack, and the incredible customer demand, partner momentum and industry recognition we've seen shows that the market agrees," said Mohit Lad, co-founder and CEO of ThousandEyes. "I'm beyond proud of what the team's accomplished over the past year, especially as we celebrate this significant milestone, but I'm even more excited about what's in store in terms of strategic partnerships, additional product innovation, and the initiatives we have in place to make ThousandEyes an even more exceptional workplace where employees can do their best work."
Key FY20 Company Highlights and Milestones include:
- Customer demand from leading brands—ThousandEyes had a record year for customer growth across the board, now counting more than 80 Fortune 500 and 150 Global 2000 customers, including Abbott Labs, C.H. Robinson, NetApp, Splunk and Wolters Kluwer, 6 of the top 7 US banks, 20 of the top 25 global SaaS companies and hundreds more of the world's biggest brands and fastest growing startups.
- New Product Innovation—Internet Insights, the only collectively powered view of global Internet performance, and ThousandEyes Synthetics, an Internet-aware synthetic monitoring solution for proactive detection of modern application performance issues, launched publicly in FY20 to significant customer demand.
- Board of Directors and Leadership Additions—Two notable additions were made to the ThousandEyes Board of Directors in FY20, including Carl Eschenbach, Sequoia Capital partner and former president and COO of VMware, and Godfrey Sullivan, former chairman and chief executive officer of Splunk. The company also added to its world-class executive leadership team with the hiring of Joe Vaccaro as vice president of product, and Matt Piercy also joined the company to lead EMEA sales.
- Global Industry Recognition—ThousandEyes grew its trophy case in FY20, most notably being named on Deloitte's Technology Fast 500™ as one of the 500 fastest growing companies in North America. Other wins included the Best Data-Driven SaaS Product in the 2019 SaaS Awards for the second consecutive year, Most Innovative Cloud Product or Service in the Computing 2019 Cloud Excellence Awards, the 2019 Cloud Computing Product of the Year Award by TMC's Cloud Computing Magazine, the inaugural Network Computing Editors Innovation Award, and for the second consecutive year, certification as a Great Place to Work and recognition on Built In's 2020 list of Best Places to Work in Austin.
- Corporate Growth—in February, ThousandEyes announced it had raised $50 million in a Series D round of funding led by GV (formerly Google Ventures), bringing ThousandEyes' total funding to more than $110 million. Thomvest Ventures joined the round as a new investor alongside existing investors Salesforce Ventures, Sequoia Capital, Sutter Hill Ventures and Tenaya Capital.
- Global Headcount Growth and International Expansion—Employee headcount grew by more than 40 percent to nearly 400 employees around the globe across new regions opened in Australia, Germany and the Netherlands, as well as in existing offices in San Francisco, London, Dublin, Austin, New York, and Tokyo.
- Global Network Outage Discovery—ThousandEyes leveraged its global network of vantage points to monitor network and application performance around the world in FY20, detecting and pinpointing major outages and service disruptions that significantly reduced the number of services available to users. Most notably, during the "Summer of Outages," ThousandEyes provided analyses of network outages that included Google Cloud Platform, WhatsApp, Cloudflare, and Apple Services, not to mention the March global Facebook outage, the Wikipedia DDoS attack and China Telecom disruption that caused collateral damage to applications worldwide.
- Groundbreaking Research and Expert Analysis—for the second consecutive year, the company published the ThousandEyes Cloud Performance Benchmark, the only research comparing global network performance and connectivity differences between the five major public cloud providers—Amazon Web Services (AWS), Google Cloud Platform (GCP), Microsoft Azure, Alibaba Cloud and IBM Cloud. FY20 also saw the introduction of the inaugural Digital Experience Performance Benchmark Report, a comparative analysis of web, infrastructure and network performance metrics from the top 20 U.S. digital retail, travel and media websites.
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