Accelerating Market Adoption Fueled by New Funding Round Led by Third Point Ventures
SAN FRANCISCO, Calif. – February 21, 2017 – Kentik, the leader in network traffic intelligence for performance management and DDoS protection, today announced continued rapid expansion in 2016, growing 6x in annual recurring revenue and now observing hundreds of Terabits of Internet traffic.
Kentik’s breakout year in 2016 included an infusion of new funding, accolades from the major enterprise industry analysts, and a rapidly expanding base of global customers, including GTT, Pandora, Neustar, Yelp, and Box, as well as global Tier 1 telecom service providers, financial services firms, and top cloud providers.
Kentik released significant new functionality in its Kentik Detect offering, including the industry’s most accurate network anomaly detection, a cloud-friendly network performance monitoring solution, and an end-to-end DDoS defense solution including integration with Radware and A10 Networks.
“We are extremely proud of our 2016 results, which reflect the market’s intense and growing demand for cloud-based network performance management and DDoS defense solutions,” said Avi Freedman, CEO of Kentik. “The network doesn’t just serve the business, it sees the business. Kentik turns trillions of digital footprints into real-time insights on everything from the user experience to network architecture to active attacks.”
To fuel its continued growth, Kentik received a $23 million Series B funding round in August led by Third Point Ventures, with participation by existing investors August Capital, Data Collective (DCVC), First Round Capital, and Engineering Capital, along with new investors Glynn Capital and David Ulevitch. Kentik is using the investment to scale the business, accelerate product capabilities, and expand its market reach.
“GTT chose to partner with Kentik to maximize our network visibility with next-generation, big data analytics capabilities,” said Bob Burris, SVP of Engineering and Operations at GTT, a Tier 1 Internet backbone provider, ranked top five in the world. “With Kentik Detect, our teams are able to answer critical network questions ranging from network planning and performance to DDoS mitigation in near real-time.”
As Kentik continued its roll-out to global carriers, it was selected as one of five winners from 142 entrants of the inaugural Go Ignite Start-up Call. Go Ignite, an alliance of four major telcos – Deutsche Telekom, Orange, Singtel, and Telefonica – recognized Kentik for its Detect cloud-based platform, which enables companies to capture and analyze billions of network traffic data records in real-time.
Kentik’s innovative technology and market impact also made a strong impression with the three leading enterprise analyst groups. In April, Gartner named Kentik as a 2016 Cool Vendor in its annual Availability and Performance report. Forrester Research selected Kentik as a “Breakout Vendor” for virtual network infrastructure, and IDC tagged Kentik as an IDC Innovator for Cloud-Managed Network Monitoring, 2016.
About Kentik
Kentik is the network traffic intelligence company. Kentik processes hundreds of billions of data records per day and equips service providers and enterprise network operations teams with actionable insights and superior DDoS defense, enabling them to deliver an optimal network experience for digital business operations. The company was founded by network and big data technologists and executives from companies such as Akamai, CloudFlare, YouTube, and Netflix, with decades of experience in operations, architecture, and distributed systems. Kentik is headquartered in San Francisco. Visit www.kentik.com or follow @KentikInc on Twitter.