Computing and IT group Cisco has agreed to acquire Epsagon, a US-based app monitoring software developer backed by telecommunications firm Deutsche Telekom, for an amount reported by Globes as $500m.
Epsagon’s technology allows apps to visualise their performance and microservices to more effectively manage any inefficiencies. It was founded by Israel Defense Forces cyber intelligence veterans and has offices in New York and Tel Aviv.
The company received $4.1m in seed funding from Lightspeed Venture Partners, StageOne Ventures and angel investor Ariel Maislos back in 2018, complementing it with a $16m series A in January 2020 featuring those investors as well as US Venture Partners, which led the round.
DTCP, the investment firm formed by Deutsche Telekom, provided an undisclosed amount in July 2020 that took the company’s total funding up to $30m.
Cisco said that the Epsagon will “play a key role” in expanding its comprehensive full-stack observability roadmap, helping it provide customers with full visibility into their app suites. It will be folded into Cisco’s Strategy, Incubation and Applications group.
Cisco’s chief strategy officer and general manager of applications, Liz Centoni, said: “As the application market’s competitive landscape surges, businesses must fast-track their innovation timelines. If they do not innovate swiftly, another company will beat them to it.”
