Cloud Computing Outlook

Software Startup NS1 Raises USD 33 Million in Series C Funding

By Cloud Computing Outlook | Friday, October 04, 2019

Since 2015, the company has raised more than USD 85 million in venture funding. Its list of customers includes professional social network LinkedIn, document sharing platform Dropbox, and tech giant Pitney Bowes Inc.

FREMONT, CA: New York-based software startup NS1 raised USD 33 million in a Series C funding round led by Dell Technologies Capital. The Series C Funding was also participated by Cisco Investments, Deutsche Telekom Capital Partners, Entrée Capital, Flybridge Capital Partners, GGV Capital, Mango Capital, Sigma Prime Ventures, Telstra Ventures, and Two Sigma Ventures. The funding was backed by Salesforce Ventures, the global corporate investment group of Salesforce.com Inc.

The software startup is known for its quest to build what is now being called a smarter internet. As part of the funding, Tyler Jewell, Managing Director at Dell, will be joining the NS1's board of directors. "There’s a profound shift underway in infrastructure that requires a new generation of management solutions that automate, protect, and improve the delivery of constantly-connected applications and services," said Jewell.

Jewell earlier had founded Codenvy, which he sold to Red Hat Inc. in 2017. He is also a VC at Dell Technologies Capital and Toba Capital. “We’re thrilled to have NS1 join our portfolio of leading-edge companies delivering world-changing technologies and benefit from our expertise and resources to accelerate growth, market and customer access, and scale,” Jewell added.

NS1 will use the additional funds towards boosting its penetration into so-called edge computing as well as service delivery and IoT offerings. Based in Manhattan's financial district, the company is an innovator of domain name systems and a leader in next-generation DNS and application management solutions.

"The rapid adoption of hybrid and multi-cloud, edge computing, DevOps, and microservices have increased complexity within the application traffic management stack and amplified expectations of how applications should connect and perform," said Kris Beevers, co-founder, and CEO of NS1. "NS1's modern traffic management solutions gather real-time intelligence to deliver smart routing decisions that have a profound impact on performance, security, and resiliency. We enable enterprise operations and application traffic teams to overcome complexity and often unpredictable conditions in infrastructure to deliver the best and safest user experiences."

Since 2015, the company has raised more than USD 85 million in venture funding. Its list of customers includes professional social network LinkedIn, document sharing platform Dropbox, and tech giant Pitney Bowes Inc. NS1 has also achieved a 90% compound growth rate every year since 2016 and has over 450 customers across different parts of the world.

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