ThousandEyes announced a Series B funding round of $20 million Tuesday, led by Sutter Hill Ventures. Salesforce Ventures, Silicon Valley angels, and previous investor Sequoia Capital rounded out the other major contributors.
The funding will help the new company in three key areas: beefing up engineering to continue creation of products, expanding field and support organization in the U.S. and Europe, and scaling the organization internally, says ThousandEyes CMO Sanjay Mehta.
The funding will also be helpful as ThousandEyes’ second announcement of the day — release of ThouandEyes Lite — will offer everyone access to the product. ThousandEyes has already gotten traction from companies like ServiceNow, Equinix, global banks, and Fortune 500 companies, Mehta says, and releasing a free version will further expand the company’s reach.
ThousandEyes Lite, a network performance management product aimed at providing better network visibility, will include data feeds for 18 popular software-as-a-service (SaaS) applications and web services, like NetSuite, Microsoft Office 365, Salesforce, Facebook, Twitter… you get the idea. The free release will also heighten predictive analytics and diagnostic features with an expansion of vantage points from Lite users.
“We built the ThousandEyes product because organizations are more reliant on the Internet, making it the new network backbone,” Mehta says. “As the world becomes increasingly digitized and more organizations rely on cloud services and virtualization, it’s clear that the network is the lifeblood of an organization.” Mehta continues to say outages or attacks on the network can impact customer experience and revenue streams, hence the need for greater visibility.
ThousandEyes Lite includes a 15-day trial of the full Pro version.