Accelerating to Escape Velocity: New Funding, Executives and Customers
Today marks a crucial milestone for Instart Logic, one that I believe shifts our trajectory and points towards escape velocity. We announced $43 million in new funding and added three key hires to our executive team. I’m also excited to announce that leading global innovators Staples, The Washington Post, TUI Group and Pizza Hut have deployed our service.
As I think back on the company’s journey, I am incredibly proud of everything the team has achieved. It is hard to believe it was only three years ago that we received our Series A funding from Andreessen Horowitz. We were three founders and eight engineers with an idea and the passion to disrupt the traditional content delivery network (CDN) market. We were focused on building a great product, and early investors saw the potential of our disruptive technology and its market opportunity.
A year later, we introduced the first iteration of our web application streaming technology, proved that software could eat hardware-centric CDNs, and won our first-ever customer Gogobot, who continues to be our longest-standing customer. We learned the meaning and power of go-to-market (GTM) and since then, there has been no looking back.
Last year we announced our Software-Defined Application Delivery platform (SDAD) and a Series C funding led by Kleiner Perkins Caufield and Byers. As our business gained momentum, we scaled our team and sales footprint globally to match. In 2014, we achieved a major milestone – we recorded five-fold growth with over 400 high-volume websites running on our service.
Each step has been arduous in its own right, yet the fruits of our labor have been sweet and continue to motivate and propel us forward. With today’s announcement I believe we are on the verge of escape velocity. The most telling indicator is that large global enterprises across a number of industries, each with a reputation for technology innovation, are selecting Instart Logic: Staples in e-commerce, The Washington Post in media, TUI Group in travel and Pizza Hut in restaurant hospitality. Each of these companies is disrupting their specific markets and engaging customers online like never before. I wanted to highlight two of these specifically here.
TUI Group Makes Travel More Dynamic
As the world’s largest integrated tourism business serving 30 million customers through brands such as Thomson, TUI and First Choice, TUI Group is at the forefront of enabling customers to plan, manage and enjoy travel digitally, especially on mobile devices.
“Our customers demand great web content and dynamic experiences. Across our brand portfolio we need our websites to provide instant gratification or risk losing a customer to an alternative,” said Mittu Sridhara, CIO at TUI Group. “Instart Logic set itself apart by delivering superior performance and the scale required to meet our global customer demands.”
The Washington Post Reinvents Digital News
The Washington Post is leading the charge in how digital news is created and consumed. Ranked amongst the top 50 U.S. websites today in terms of traffic, more than half of The Washington Post’s readers access its site via mobile devices. The Washington Post is re-imagining digital news from the ground up and has built a technology platform to support a native-digital approach to news delivery and consumption.
“Our priority at The Post is providing a tremendous user experience and site speed across all platforms is a vital part of that goal,” said Shailesh Prakash, CIO at The Washington Post. “In Instart Logic, we have a partner and technology that’s aligned with the way we think about innovation, and offers us the fast content delivery our users expect.”
We are thankful to our customers who entrust us every day with their online brand and reputation and we look forward to sustained partnerships.
Building an admirable company for the long haul and attracting global customers takes a stellar team. At Instart Logic, we’ve been fortunate to attract some of Silicon Valley’s best and brightest. Each of the new executives joining the team comes with a phenomenal track record in private and public companies. I’d like to encourage you to read more about them.
We’re on a mission to build a great company that will be at the forefront of how modern applications are developed and delivered with speed, security and scale. While our velocity is accelerating and it feels like we are moving at light speed now, I can only imagine how slow our current pace will seem as we achieve escape velocity.