Instart Logic Secures $26 Million in Series C Funding Round, Led by Kleiner Perkins Caufield & Byers
Mountain View, CA, May 16, 2014 --(PR.com
)-- Instart Logic, the cloud application delivery service for performance-obsessed organizations, today announced it has raised $26 million in an oversubscribed Series C funding to continue the company’s rapid sales growth and accelerate product innovation. The round was led by Kleiner Perkins Caufield & Byers (KPCB) with participation from prior investors Andreessen Horowitz, Greylock Partners, Sutter Hill Ventures and Tenaya Capital.
These funds come at a time of exponential growth for Instart Logic, whose customer base has grown by more than 500 percent over the past year. Companies such as One Kings Lane, Volcom, Washington Post, Wine.com and Omni Hotels have replaced their existing content delivery network (CDNs) with Instart Logic’s service. Industry influencers have also taken note: Gartner recently named Instart Logic to its list of “Cool Vendors in Web Computing, 2014.” With this industry recognition, increasing interest from e-commerce, SaaS and media companies, and the company’s unique software technologies, Instart Logic is transforming the multi-billion-dollar market for application delivery solutions. Proceeds from this round will be used to expand sales and marketing and accelerate research and development.
“Application performance and user experience have never been a more strategic, competitive differentiator,” said Matt Murphy, general partner, KPCB. “Instart Logic’s application streaming approach is fundamentally different, delivering dramatic results for their customers and making existing content delivery networks obsolete.”
“In less than 12 months, Instart Logic has introduced many of the world’s most performance-obsessed companies to a new way of accelerating their cloud applications,” said Manav Mital, CEO, Instart Logic. “We’ve only scratched the surface of our technology potential, and we are pleased that KPCB is joining us to take our business into the next phase of growth.”
The growth in mobile devices, wireless access and application size has created new “last mile” bottlenecks in application performance. For e-commerce, SaaS and media companies, poor application performance leads to lost revenue, user dissatisfaction and fewer page views. Instart Logic’s unique cloud-client platform virtualizes applications on the browser and leverages software intelligence in the cloud to dynamically optimize delivery of application components on demand. This approach typically results in 2x-3x performance improvements over CDN and FEO technologies.