Welcome!

Agile Computing Authors: Rishi Bhargava, Elizabeth White, Yeshim Deniz, Ben Uher, Derek Weeks

News Feed Item

ExtraHop Closes $41 Million in Series C Funding to Establish New Enterprise IT Category

Led by Technology Crossover Ventures, Marquee Investors Validate Market Opportunity and Help Pave the Way for Accelerated Growth and Technology Innovation

SEATTLE, WA -- (Marketwired) -- 05/29/14 -- ExtraHop, the global leader in real-time wire data analytics for IT operational intelligence, today announced that it has closed a $41 million round of Series C financing. The round was led by Technology Crossover Ventures (TCV), an investment firm with a long track record of investment in some of today's most successful technology companies including Splunk, Zillow, Expedia, and Spotify. TCV was joined in the round by existing investors Meritech Capital Partners and Madrona Venture Group, as well as private investors including Sujal Patel, the former CEO and founder of Isilon Systems. To-date, ExtraHop has raised $61.6 million in venture capital. The company will use this round to further establish the IT Operations Analytics (ITOA) category, with an emphasis on delivering significant innovations within its Wire Data Analytics platform and aggressive expansion into new geographic markets. ExtraHop also announced that Ted Coons at Technology Crossover Ventures is joining its board of directors.

"Just as Splunk's platform fundamentally changed the way businesses leverage machine data, ExtraHop has transformed wire data into a key source of visibility and intelligence for IT operations teams with its Wire Data Analytics platform," said Coons. "Led by a team with extensive expertise in virtualization, application delivery, and network technologies, ExtraHop is reshaping the way IT approaches management of its operations. The ExtraHop Wire Data Analytics platform provides CIOs, CTOs, and IT Operations teams with the insight they need to translate rich wire data into tangible business value. Serving on the board, I look forward to working with this proven and dynamic team as they continue their category leadership."

"The convergence of cloud, software-defined IT, virtualization, and mobility have driven unprecedented complexity in today's enterprise IT environments," said Dennis Callaghan, Senior Analyst at 451 Research. "IT professionals and business leaders need technologies that enable them to cut through the clutter to gain visibility into these complex IT environments. This round of funding validates the value and ROI of ExtraHop's Wire Data Analytics platform for improving IT operations, and empowers the company to maintain and extend its category leadership."

Since closing its Series B Round in 2011, ExtraHop has demonstrated strong momentum across all facets of the company. Between 2012 and 2013, the company achieved 150 percent year-over-year revenue growth. Spanning industries such as healthcare, ecommerce, financial services, and information technology, ExtraHop's customers represent some of the world's largest enterprises, including Lockheed Martin, Morgan Stanley, Concur, Purdue Pharma, and McKesson. ExtraHop has also continued to innovate at a rapid clip, launching its flagship EH8000 appliance in April 2013, followed in November 2013 by the launch of its award-winning ExtraHop for AWS cloud performance product.

"Businesses cannot survive without a fast-paced, well-informed, and innovative IT organization. ExtraHop has deep roots in the enterprise, and we've identified a significant market opportunity that will redefine IT operations as we know it today," said Jesse Rothstein, CEO, ExtraHop. "We're establishing the entirely new category of ITOA, which provides an unmatched source of truth about business and IT operations through sophisticated analysis of wire data. The investment from TCV, known for backing some of the industry's most notable and disruptive enterprise brands, further validates our mission and will significantly accelerate our pace of innovation."

About ExtraHop
ExtraHop is the global leader in real-time wire data analytics. The ExtraHop Operational Intelligence Platform analyzes all L2-L7 communications, including full bidirectional transactional payloads. This innovative approach provides the correlated, cross-tier visibility essential for application performance, availability, and security in today's complex and dynamic IT environments. The winner of numerous awards from Network World, Interop, TechTarget, and others, the ExtraHop platform scales up to 20Gbps in a single appliance, deploys without agents, and delivers tangible value in less than 15 minutes. Learn what we mean at www.extrahop.com or follow us on Twitter @ExtraHop.

About TCV
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

About Meritech Capital Partners (MCP)
Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies, and has been one of the top performing venture firms of the past decade. With over $2.6 billion under management, Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams. With one of the most active venture portfolios, Meritech has experience in and provides guidance on issues facing rapidly growing companies including management incentive plans, IPO market timing and positioning, M&A strategies and negotiations and adviser selection. Meritech investments in industry-leading companies include Acclarent, Broadsoft, Cornerstone-OnDemand, Facebook, Fortinet, Fusion-io, Greenplum, hybris, Imperva, Netezza, NetSuite, Proofpoint, PopCap, Riverbed, Salesforce.com, Sourcefire, Tableau, and Zulily. Meritech is located in Palo Alto, California, and can be found at www.meritechcapital.com.

About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages approximately $1 billion and was an early investor in companies such as Amazon.com, Apptio, Isilon Systems, and Redfin.

Contact
Allison Tabiando
Barokas Public Relations for ExtraHop
206-264-8220
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.