Welcome!

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.

Latest Stories
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...