Kentik Raises $40 Million to End the Era of Fragmented Monitoring
Kentik®, the network observability company, today announced it closed a $40 million Series C funding round led by existing investor Third Point Ventures. Investors from prior rounds – August Capital, Tahoma Ventures, DCVC, Engineering Capital and Vistara Growth – were joined by new investors Golub Capital, Gaingels and Delta-v Capital to complete this round. To date, Kentik has raised $102 million in total financing.
“From the time we met Avi Freedman back in early 2020 and made our initial investment, we have been very impressed with the continuous innovation and sales traction demonstrated by the Kentik team. Their ability to meet the increasing demands of a highly discerning customer base through being able to offer more complete observability across complex IT networks, now positions the company extremely well for accelerated growth. With this round, we are excited to further participate in supporting Kentik’s growth strategy alongside our co-investors.”– John O’Donoghue, Director of Investments at Vistara Growth
With the explosion of digital business, the API economy and consumer expectations for instantaneous service, applications rely more than ever on network health and performance. At the same time, those networks are increasingly diverse and no longer managed by one group. When there’s a service outage or degradation, teams scramble to siloed monitoring tools to understand whether the root cause is a code flaw, cloud infrastructure misconfiguration, network congestion or any number of issues within or outside of their control. And every second of delay directly affects the customer experience and revenue.
“Kentik provides the only platform to unify full-stack observability for network, infrastructure, application and business operations teams. Tech economy leaders like Box, Dropbox, Zoom and hundreds more use Kentik to diagnose and prevent performance issues, optimize across infrastructure, and drive massive growth and customer satisfaction. This financing will help us accelerate investments in our platform as well as partner with other observability leaders to end the era of fragmented monitoring.”– Avi Freedman, Co-founder and CEO of Kentik
“Kentik’s base business continues to grow fast, with great retention and upsell, and its new products are opening up massive new TAM,” said Robert Schwartz, Managing Partner of Third Point Ventures. “With strong financial results and excellent growth economics, we’re excited to double down on our commitment to Kentik.”
The raise comes on the heels of several milestones for the company:
- Quick adoption of new products Kentik Synthetics and Kentik Cloud
- Key partnerships, including with New Relic and Cloudflare
- The launch of Kentik Labs, Kentik’s new open-source initiative
Kentik is expanding its world-class team and hiring globally for open positions in engineering, marketing, operations, product management and sales.
The company recently earned the highest ratings among competitors in Network Performance Management (NPM) and was named a 2021 Value Leader by analyst firm EMA.
Kentik is the network observability company. Our platform is a must-have for the network front line, whether digital business, corporate IT or service provider. Network professionals turn to the Kentik Network Observability Cloud to plan, run and fix any network, relying on our infinite granularity, AI-driven insights and fast search. Kentik makes sense of network, cloud, host and container flow, internet routing, performance tests and network metrics. We show networking pros what they need to know about their network performance, health and security to make their business-critical services shine. Networks power the world’s most valuable companies, and those companies trust Kentik for network observability. Market leaders like IBM, Box and Zoom rely on Kentik for network observability. Visit us at kentik.com and follow us at @kentikinc.
About Vistara Growth
Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in. For more information, visit vistaragrowth.com
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