Kentik Closes $23 Million Series B

 

SAN FRANCISCO — Kentik Technologies, a network traffic intelligence company, 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.

Since launching its SaaS-based network traffic analysis platform a year ago, Kentik has earned industry recognition as a 2016 Gartner Cool Vendor for Availability and Performance. Kentik has gained over 60 customers, including some of the world’s largest web enterprises such as Box, Yelp, Pandora, Shopify, Dailymotion, Neustar, OpenDNS and Instart Logic.

Kentik attained entry to new markets as one of five global startups chosen by the innovation arms of service provider giants Deutsche Telekom, Orange, Singtel and Telefonica through their Go Ignite alliance.

“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.”