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ExtraHop Raises $5.1 Million in Series A Funding
Funding to Fuel Growth and Innovation
| Source: ExtraHop Networks
SEATTLE, WA--(Marketwire - April 14, 2009) - ExtraHop Networks, Inc., the first
network-management company to deliver true application visibility, today
announced it completed a $5.1 million Series A round of funding, led by the
Madrona Venture Group, with participation from strategic angel investors
including Marc Andreessen, co-founder of Netscape, Opsware, and Ning, and
Ben Horowitz, the former CEO of Opsware and SVP of Software at HP. The
funds will be used to accelerate the company's growth and fuel investments
in customer acquisition, product development, and go-to-market efforts.
ExtraHop's rapidly growing customer base utilizes the innovative ExtraHop
Application Delivery Assurance system to identify and resolve performance
issues in mission-critical networked applications. The ExtraHop Application
Delivery Assurance system goes far beyond current monitoring products,
delivering a holistic view of the complete application environment with no
agents or overhead. By bringing application-level visibility to both
network and application teams, ExtraHop helps customers cut troubleshooting
time, lower operational costs, and do more with existing IT resources.
"At Madrona, we're committed to supporting world-class teams with
breakthrough innovations," said Matt McIlwain, Managing Director at Madrona
Venture Group. "In this economic climate, the ExtraHop network- and
application-management solution brings compelling value to IT organizations
looking to lower cost and improve delivery quality. The team has
demonstrated strong traction in the marketplace by successfully launching
ExtraHop's flagship product in late 2008 and securing numerous customer
wins."
"Since the inception of ExtraHop, we have seen overwhelming demand for a
better network- and application-management solution. After two years in
development, it's gratifying to see our product in action, solving customer
pain points and garnering significant attention from both the application
and network management communities. Our ability to deliver a 15-minute
install and instant ROI is particularly appealing in these times of flat to
declining budgets and has helped to boost customer adoption," said Jesse
Rothstein, CEO of ExtraHop. "This funding is helping us capitalize
aggressively on market demand and accelerate our pace of innovation."
About ExtraHop Networks
ExtraHop Networks was founded in early 2007 by Jesse Rothstein and Raja
Mukerji, engineering veterans from F5 Networks and architects of the BIG-IP
v9 product. The company's pioneering Application Delivery Assurance system
is the industry's first completely passive network appliance that provides
application-level visibility with zero agents, configuration, or overhead.
The privately held company is headquartered in Seattle, Washington and
funded by Madrona Venture Group and other private investors.
About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology
companies in the Pacific Northwest since 1995 and has been privileged to
play a role in some of the region's most successful technology ventures.
The firm invests across the information technology spectrum including
consumer Internet, commercial software and services, digital media and
advertising, networking and infrastructure, and wireless. Madrona currently
manages nearly $700 million and was an early investor in companies such as
Amazon.com, Isilon Systems, World Wide Packets, iConclude, Farecast.com,
and ShareBuilder.