Catchpoint Systems, Inc., a provider of web and infrastructure performance monitoring solutions, announces it has completed a $16 million Series C funding with proceeds earmarked to accelerate the company’s rapid growth.
The funding includes $6 million from Battery Ventures, which has provided the capital in all three of Catchpoint’s funding rounds, and a $10 million line of credit from Silicon Valley Bank. The company will use the funds to hire more talent, invest in new products, and expand the company’s global monitoring infrastructure.
Catchpoint has secured over 190 new customers since the start of 2014, including Comcast, LinkedIn, Hearst Corporation, Kate Spade New York, Orbitz, and XO Group, adding to existing client companies ranging from startups to Fortune 1000 names such as Verizon Digital Media Services, Overstock, Priceline, and TripAdvisor.
The company added new offices in Seattle, London and Bangalore in the last year, and expanded its stable of performance monitoring nodes to over 430 backbone, last mile, and wireless locations worldwide. It also relocated its New York City headquarters and Boston office to more spacious locations in those cities, while growing its employee head count to 116 by mid-year, up from 39 at the start of 2014.
Neeraj Agrawal, general partner at Battery Ventures and a Catchpoint board member, explained:
“Catchpoint’s year-over-year growth has continued on an upward trend, and the company is now a high-profile player in the performance monitoring industry. With the company’s innovative product and talented staff, I’m confident they can grow market share substantially in the coming years.”
Mehdi Daoudi, CEO and co-founder of Catchpoint Systems, noted:
“We’ve been very pleased with our steady progress over the past few years. We’ve put together an extremely talented staff, an innovative product, and an ambitious plan for the future. With online systems becoming more reliant on Cloud and SaaS applications, we’re well positioned to meet the challenges that lie ahead.”
In addition to expanding its global monitoring coverage, Catchpoint has made significant enhancements to its product features. These include flexible OnPrem monitoring options, customizable dashboards and new charting capabilities, including traceroute monitoring capability, historical comparisons, and error analysis, all of which combine with existing features to give users more insight into performance than any other toolset in the industry.
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