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ThousandEyes Receives Funding to Continue Work on Innovative Network Monitoring Technology

By Christopher Mohr March 01, 2016

ThousandEyes announced recently that it has raised $35 million in additional Series C funding led by Tenaya Capital. The money will allow ThousandEyes to continue its efforts to develop solutions that allow a business to monitor activity on its networks as well as those run by a third party.

San Francisco-based ThousandEyes, Inc. develops solutions that help its customers monitor DNS performance, DDoS activity, network routing, content delivery networks (CDN), VoIP activity, and website performance.

According to its website, Sotheby’s, EA, HP, Zynga, Evernote and GitHub are among its most noted clients. ThousandEyes also announced that it had closed fiscal 2016 with a 130 percent growth in bookings and 115 percent year-over-year customer growth.

This impressive set of customers combined with rapid growth and the latest round of funding indicates that ThousandEyes is for real. Total funding so far has eclipsed $60 million and in addition to Tenaya includes some big names in the VC arena: GV, Salesforce Ventures, Sutter Hill, and Sequoia Capital have all contributed.

If there is any one thing about ThousandEyes that stands out the most, it’s that it has developed a way for its customers to monitor the performance of networks that they rely on, but maintain no ownership or control over.

This is a critical capability at a time when so many companies have moved part or all of their IT to the cloud. Just because businesses use cloud service providers, it doesn’t mean that they cease having responsibility for what happens to their data. Without regard to responsibility issues, it’s important for anyone using the cloud to be aware of any performance issues or even worse, cyberattacks. Many cloud service contracts are based on having a minimum of downtime, and the best way to hold a service provider accountable is to monitor their network activity.

ThousandEyes claims on its website that it is the only vendor providing monitoring solutions that access external networks and the funding community seems to agree that they are innovators in this area. Their monitoring solutions allow businesses to be accountable to their stakeholders while ensuring that service providers hold up their end of the bargain. 

Edited by Maurice Nagle

Contributing Writer

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