Welcome!

Agile Computing Authors: Pat Romanski, Liz McMillan, Mehdi Daoudi, AppNeta Blog, Carmen Gonzalez

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 delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that IoT Now has been named “Media 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. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that WineSOFT 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. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, 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. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
SYS-CON Events announced today that CA Technologies has been named “Platinum 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, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
SYS-CON Events announced today that Cloud Academy 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. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...