Kentik Technologies Closes $23 Million Series B Funding Round

SAN FRANCSISCO -- Kentik Technologies, the network traffic intelligence company, today announced that it 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.

“As one of the first vendors we’ve seen to bring a native SaaS and big data approach to network visibility, Kentik is already capitalizing on a sizeable market showing a healthy annual growth rate,” said Jim Duffy, senior networking analyst at 451 Research. “The growth of Kentik’s customer base and progress in product capabilities since it launched service in mid-2015, combined with the infusion of new capital, bodes well for its ability to capitalize on new customer expectations around network monitoring.”

Kentik