SAN FRANCISCO--(BUSINESS WIRE)--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.
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 Gartner1, 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 provides network performance management for today's dynamic and complex networks. ThousandEyes radically simplifies how organizations monitor, troubleshoot and analyze the delivery of any application or service by enabling them to gain rapid insight into network performance across internal, cloud-based and mobile infrastructures. Leading companies such as Equinix, Flextronics, ServiceNow and Twitter, as well as eBay and other members of the Fortune 500, use ThousandEyes to improve performance and availability of their business-critical applications. ThousandEyes is backed by Sequoia Capital, Sutter Hill Ventures and Salesforce Ventures, and has headquarters in San Francisco, CA. For more information, visit http://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
1 Gartner "Application Performance Monitoring and IT Operations Analytics, 2014" by Jonah Kowall, Will Cappelli, Colin Fletcher, April 28, 2014.