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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

ThousandEyes Announces $50 Million Series D Led by GV

February 20, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Feb 20, 2019--ThousandEyes, the company that provides actionable intelligence into digital experience for the cloud, Internet, and enterprises, today announced it has raised $50 million in a Series D round of funding led by GV (formerly Google Ventures), bringing ThousandEyes’ total funding to more than $110 million. Additionally, Thomvest Ventures joined the round as a new investor alongside existing investors Salesforce Ventures, Sequoia Capital, Sutter Hill Ventures and Tenaya Capital. The new funds will be used to execute on the company’s strategic growth initiatives, including the acceleration of go-to-market activities and expansion of global operations while continuing to invest in digital experience innovations that drive customer success.

“ThousandEyes is seeing remarkable traction with Fortune 500 customers and this sustained growth is a testament to the scope of the network visibility problems they continue to solve,” said Dave Munichiello, General Partner at GV. “As enterprises increasingly rely on applications and services in the cloud, their CIOs and CTOs are losing visibility and control of the networks and outages impacting end-user digital experiences. ThousandEyes delivers mission-critical visibility into every network an enterprise relies on, and ultimately has an objective view of enterprise services, clouds, and their performance that is unparalleled in the technology ecosystem.”

As applications, services and workloads have moved off-premises and into the cloud at a staggering rate, IT teams are often ill-equipped to manage the digital experience of their customers and employees as they no longer own or operate the entire service delivery path. If there’s an attack on the cyber-supply chain, an Internet outage, or cloud provider issue, IT teams are blind to who and what is at fault, causing painfully lengthy delays in resolution, impacting revenue and brand perception. They lack the data, insights and visibility to make better cloud decisions and avoid service-impacting issues occurring in the first place. ThousandEyes empowers IT teams with actionable intelligence into the digital experience of customers and employees from the cloud and Internet to the end-user, putting control back into the hands of IT and the business.

Key FY19 Successes Fueling Strong Business Trajectory into 2019 and Beyond

ThousandEyes also today shared year-end results and key accomplishments from its fiscal year 2019 (FY19), which concluded on January 31, 2019. ThousandEyes closed the year with significant revenue growth in both global and domestic markets, most notably in technology, financial services and retail markets. ThousandEyes now counts 20 of the 25 top SaaS companies, six of the top seven U.S. banks, and four of the top five UK banks as customers, plus more than 65 of the Fortune 500 and over 120 Global 2000 companies.

“Over the last year, we have seen unprecedented growth as both domestic and international demand for digital experience intelligence continues to increase at an extraordinary pace,” said Mohit Lad, co-founder and CEO, ThousandEyes. “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 $206 billion cloud market.”

Key company milestones achieved in FY19 included:

Network Intelligence coverage for multi-cloud environmentsexpanded its global coverage to include additional US broadband ISPsCredit SuisseBest Data-Driven SaaS Product in the 2018 SaaS Awards25 Highest Rated Private Cloud Computing Companies To Work Forcertified as a great workplacebest place to workMurtaza DoctorJennifer Taylor2018 ThousandEyes Global DNS Performance Report2018 ThousandEyes Public Cloud Performance Benchmark Reportrouting error by a Nigerian ISPComcast fiber-cut outagehijacking of its DNS service

Learn more about ThousandEyes:

Read more about today’s funding in this blog by ThousandEyes CEO Mohit Lad: “Taking ThousandEyes to the Next Level and Making New Mistakes”Find out about current job openings at ThousandEyesRead the latest ThousandEyes announcements and news coverage

* Source: Gartner. (2018, September 12). “ ” and “ .”

About ThousandEyes

ThousandEyes empowers enterprises to see, understand and improve digital experiences for their customers and employees. The ThousandEyes cloud platform offers unmatched vantage points throughout the global Internet and cloud providers, delivering immediate visibility into the digital experience for every user, application, website or service, over any network. ThousandEyes is central to the global operations of the world’s largest and fastest growing brands, including Comcast, eBay, HP, 120+ of the Global 2000, 65+ of the Fortune 500, 6 of the 7 top US banks, and 20 of the 25 top SaaS companies. For more information, visit www.ThousandEyes.com or follow us on Twitter at @ThousandEyes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190220005253/en/

CONTACT: Ben Stricker

ThousandEyes Global Public Relations

bstricker@thousandeyes.com

(415) 915-5726

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY INTERNET NETWORKS

SOURCE: ThousandEyes

Copyright Business Wire 2019.

PUB: 02/20/2019 08:00 AM/DISC: 02/20/2019 08:01 AM

http://www.businesswire.com/news/home/20190220005253/en