New investment round led by GV allows ThousandEyes to continue to grow globally as they total funds over $110m
Mohit Lad, co-founder and CEO of ThousandEyes. Photo credit: ThousandEyes
The cloud can bring businesses bountiful information but it isn’t always easy to get your head around. So it’s no wonder investors are looking at ThousandEyes, the cloud analytics service, who have just closed an impressive round.
An investment led by GV, Alphabet’s venture capital arm, saw ThousandEyes raise $50m in a series D round. The American company, that also has offices in places like Dublin and London, has now raised over $110m in total across seven rounds. GV joined existing VC investors Salesforce Ventures, Sequoia Capital, Sutter Hill Ventures and Tenaya Capital. Additionally, VC firm Thomvest Ventures joined as a new investor.
The new funding will help continue the scaleup’s global expansion. The capital injection will also go towards boosting its go-to-market initiatives as well as the development of products and features that are released every two weeks. Their digital presence will also be improved.
Launched in 2010, ThousandEyes monitors internet network traffic to allow businesses to better monitor performance. It provides a visual analysis of data through graphs, tables and charts so businesses can gain insight into their users’ experiences. As of 2019, ThousandEyes have grown in technology, financial services and retail markets. ThousandEyes‘ clients include six of the top seven US banks, four of the top five UK banks and 20 of the 25 top SaaS companies.
Mohit Lad, co-founder and CEO of ThousandEyes, said: “This new funding round will allow us to further invest in both product innovation and global expansion as we quickly find our solution becoming a non-negotiable piece of the modern operations stack that’s necessitated by the rapidly growing $206b cloud market.”
As the cloud grows bigger and more companies are eager to jump on it, it seems startups like ThousandEyes are the ones to watch across the global startup landscape.