Kentik Technologies has raised $23 million in a Series B funding round led by Third Point Ventures, with participation by existing investors August Capital, Data Collective (DCVC), First Round Capital, and Engineering Capital, and new investors Glynn Capital and David Ulevitch.
The new investment will enable Kentik to meet strong demand for its big data-based network traffic and performance visibility solutions. Kentik plans to use the additional capital to increase headcount in the next year to accelerate product capabilities and expand market reach.
“We are thrilled to bring Kentik into our portfolio of cloud technology companies. The exceptional team, high-value technology and resulting aggressive customer adoption of Kentik’s offering made this a compelling investment for us,” said Robert Schwartz, Third Point Ventures Managing Partner. “There is a big gap in network visibility for digital business operations, and Kentik’s disruptive big data analytics fills that gap in a way that is far more powerful and easier to use than legacy options. We look forward to helping Kentik with their market and product expansion as the world continues to shift to digital business models that are critically dependent on network traffic delivery.”
Kentik ingests network data at Internet scale – hundreds of billions of records per day – in real-time, and allows users to run multi-dimensional queries and receive visualizations in a few seconds. This allows Kentik to support key network visibility use cases at greater scale and detail than previously possible.
“We founded this company because we believe in the value of data to make businesses run smarter, faster, and with more innovation. We’ve been extremely gratified to see customers respond so positively to our vision and solution for network analytics,” said Avi Freedman, Kentik CEO. “This latest round of funding validates the traction we’ve achieved with our approach to the market, and will help us continue to revolutionize what network traffic intelligence means for numerous use cases across network operations, engineering, and security.”
"We've supported Kentik from the beginning, and have seen how strongly they've executed on their goals, including on-boarding an amazing, who's who customer list" said Howard Morgan, partner at First Round Capital. "Avi and his team have consistently delivered on their promises, and we're excited to participate in this round to accelerate Kentik's growth.”
“Kentik has fundamentally altered the value you can get from network data. Old methods were so slow and costly that they couldn't solve real-world problems like figuring out what's really behind application performance issues,” said Matt Ocko, co-Managing Partner of DCVC. “Kentik's depth and speed of insight means that network teams can find and fix issues that APM solutions don't see; security teams can be a step ahead of DDoS attacks instead of always behind the curve; planning teams can improve user experience while reducing costs; and marketing teams can offer customers more insight into their critical traffic than they've ever had before. This adds up to a massively compelling ROI for Kentik's customers. Together with Kentik delivering this industry-beating ROI via a defensible big data platform that can ingest and index trillions of packets a day, fully SQL-query-responsive in real-time, made us enthusiastic to far exceed our pro-rata share in this investment round.”
Kentik is aggressively hiring in sales, systems engineering, marketing, software development and operations.
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