Catchpoint Completes $22.5 Million Series C Funding Led by Sapphire Ventures
Funding Will Fuel Product Expansion and Meet Growing Demand for Digital Experience Monitoring
NEW YORK, November 3, 2016-- Catchpoint ®, a leading digital experience intelligence company, announced it has completed a $22.5 million (US) Series C funding round, led by new investor Sapphire Ventures with participation from existing investor Battery Ventures, which has provided capital in each Catchpoint funding round. The proceeds are earmarked for expanded product development and global go-to-market strategies.
With this new funding, Rajeev Dham of Sapphire Ventures will join the Catchpoint board of directors.
This funding follows major company milestones since its previous round, including:
• New customers across diverse industries including Morningstar, GAIN Capital and L’Oreal Group, increasing the company’s total to over 380 customers, including Fortune 1000 clients like Comcast, Honeywell, TripAdvisor and LinkedIn.
• The release of Catchpoint’s Real User module and OnPrem Agent offering within the synthetic module.
• Growth to 560 backbone, last mile, IPv6, and mobile nodes.
• Announcement of its first global user conference, taking place in April of 2017.
• 190 employees and six global offices.
“After several years of steady growth in both revenue and market share, we’re very excited to partner with Sapphire Ventures to take the next steps forward as a company,” said Catchpoint CEO and co-founder Mehdi Daoudi. “Sapphire Ventures’ experience in SaaS and scaling enterprise companies will be invaluable as we continue to grow and improve our product, and help companies around the globe deliver amazing digital experiences to their customers.”
Catchpoint recently announced the latest evolution of its digital experience monitoring SaaS platform, which unifies synthetic and real user performance data in real time. By offering fully customizable visualization and dashboards, the platform provides clear and actionable information, facilitating faster business decisions and reducing mean time to resolution (MTTR), critical as businesses focus on the role of analytics in the user experience.
“Sapphire Ventures is thrilled to back Catchpoint on its mission to help enterprises optimize end-user performance,” said Dham. “As end users increasingly interact with businesses through a variety of digital touchpoints, Catchpoint’s platform has become even more mission critical. We believe Catchpoint is well-positioned to become the next-generation leader in the space and look forward to leveraging our global enterprise network to help the company on its journey.”
In addition to growing its client portfolio and staff, Catchpoint has continued to expand its international monitoring capabilities over the past year. The company has increased its industry-leading global node count by more than 20 percent since last year, and now offers over 560 monitoring touchpoints in 80 countries around the world.
“With more businesses moving online and to the cloud, managing IT infrastructure has become increasingly complex,” said Neeraj Agrawal, a general partner at Battery Ventures. “Catchpoint’s ability to proactively monitor this infrastructure and the end-user experience is critically important, especially as performance - including uptime and speed - becomes directly correlated with overall business performance.”
Catchpoint is a leading digital performance intelligence company that provides unparalleled insight into your customer-critical services to help you consistently deliver amazing digital experiences. Catchpoint is the only performance monitoring platform that provides integrated synthetic and real user monitoring, comprehensive test types, real-time analytics, and a diverse node network to help you continuously preempt performance issues and optimize service delivery. More than 380 customers in over 30 countries trust Catchpoint to strengthen their brands and grow their businesses. To request a free trial, visit www.catchpoint.com/freetrial.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With over $2.4 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage. Find us in Palo Alto and London and at www.sapphireventures.com.
U.S. Press Contacts for Catchpoint Systems, Inc:
The Medialink Group
Kristina LeBlanc, 508-930-5636
Frank Cioffi, 415-893-1570
Venture Capital Database