PALO ALTO, Calif.--(BUSINESS WIRE)--Instart Logic, the leading provider of application delivery solutions, announced today that it has closed on $45 million in Series D funding in an oversubscribed round led by new investor Geodesic Capital. The round included other new investors, including the Stanford-StartX Fund and Harris Barton Asset Management, and participation from existing investors including Hermes Growth Partners, Andreessen Horowitz, Four Rivers Group, Kleiner Perkins Caufield & Byers, and Tenaya Capital. Additionally, the company announced a strategic investment from Telstra Ventures, the venture arm of Australia’s leading telecom provider, Telstra. More information on Telstra’s strategic investment can be found here.
The new capital will accelerate product capabilities and sales expansion in the US and globally, driving continued momentum of the company’s application delivery platform.
“Instart Logic is putting all the pieces together to become the breakout winner in Application Delivery,” said Ashvin Bachireddy, Co-Founder and General Partner at Geodesic Capital. “They have a large market ripe for disruption, compelling customer adoption, strong fundamentals and a proven team to execute on the opportunity.”
Instart Logic’s new funding will build on the following key milestones achieved in 2015:
Sales Growth of 3X in 2015 Fueled by Large Enterprise Deployments
The company tripled its sales growth in 2015, with more than 500 market-leading websites utilizing its application delivery service worldwide. Instart Logic now serves more than 30 million users per month in more than 180 countries every day. Top e-commerce and media companies that have standardized on Instart Logic include Atlantic Media, Evite, Kate Spade, Office Depot International, Shutterstock, TUI Travel and the Washington Post.
Strategic Partnerships Validate Adoption in the Market
Instart Logic also formed key strategic partnerships to broaden its technology ecosystem and expand its distribution globally. In 2015, it increased security capabilities with advanced DDoS scrubbing through its partnership with Verisign and accelerated e-commerce platforms in partnership with Magento. The company also extended its application delivery into China in collaboration with ChinaCache and expanded its DNS management capabilities by partnering with Dyn.
Product Innovation in Application Delivery and Machine Learning
Key Executive Hires Following Increased Sales Momentum
As part of its acceleration, Instart Logic made two key executive sales hires. Chris Smith, vice president of worldwide field operations, and Andrew Bartlam, vice president of EMEA sales, bring a wealth of sales leadership experience to Instart Logic. Smith will be responsible for overseeing the company’s global sales efforts and has a track record of growing early stage companies such as Invincea, ArcSight, and Mercury into market-leading public companies. Bartlam will be focused on expanding the EMEA region, and has helped build growth engines in EMEA for successful companies such as CipherCloud and Jive Software. Additional details on these strategic hires can be found here.
Company Growth and Culture
In the course of 2015, Instart Logic expanded to three new locations domestically and internationally: in Oregon, with a focus on research and design; and in Toronto and London, with sales offices to expand Instart Logic’s global footprint. As a testament to its commitment to its employees, Instart Logic was also voted No. 1 “Best Startup to Work for in America” by Business Insider and No. 6 in the “50 Best Small & Medium Companies to Work for in 2015” by Glassdoor. Additional details on the momentum can be found here.
“In 2015 Instart Logic executed strongly in all phases of the business, but we’ve only scratched the surface of our potential,” said Manav Mital, CEO of Instart Logic. “Our vision for the future of Application Delivery is resonating with customers, and we will continue to out-innovate, out-sell and out-execute the competition.”
About Instart Logic
Instart Logic makes application delivery fast, secure and easy. Instart Logic’s end-to-end platform combines machine learning for performance and security with a content delivery network (CDN) for application delivery, and is designed for DevOps and mobile-first applications. Using Instart Logic, organizations can provide ultra-fast, visually immersive and secure experiences on any device to maximize revenue, deliver superior customer experiences and gain competitive advantage. Instart Logic is funded by Andreessen Horowitz, Four Rivers Group, Geodesic Capital, Greylock Partners, Hermes Growth Partners, Kleiner Perkins Caufield & Byers, Sutter Hill Ventures, Telstra Ventures, Tenaya Capital, Wing Venture Capital and several notable Silicon Valley angel investors. Learn more at https://www.instartlogic.com or follow us on Twitter at @InstartLogic.