GV, a corporate venturing subsidiary of internet and technology conglomerate Alphabet, led a $50m series D round for US-based IT network management software provider ThousandEyes on Wednesday.
Salesforce Ventures, the corporate venturing arm of enterprise software producer Salesforce, also took part in the round, which boosted the company’s total funding to more than $110m, as did Thomvest Ventures, Sequoia Capital, Sutter Hill Ventures and Tenaya Capital.
ThousandEyes has developed cloud analytics software that allows organisations to measure the performance of their computing networks. IT teams can also use the platform to collate data across different portions of the network and discover any potential sources of disruption.
GV general partner Dave Munichiello said: “As enterprises increasingly rely on applications and services in the cloud, their [chief information officers] and [chief technology officers] are losing visibility and control of the networks and outages impacting end-user digital experiences.
“ThousandEyes delivers mission-critical visibility into every network an enterprise relies on, and ultimately has an objective view of enterprise services, clouds and their performance that is unparalleled in the technology ecosystem.”
The series D funds will be invested product innovation and international expansion. Tenaya Capital had previously led the company’s $35m series C round in February 2016, participating alongside GV, Sequoia Capital and Sutter Hill Ventures.
Salesforce Ventures first invested in ThousandEyes as part of a $20m series B round in 2014 that was led by Sutter Hill and backed by Sequoia Capital and assorted angel investors. Sequoia also contributed to its $5.5m series A round the year before.