02.28.2017 Press Release
ThousandEyes Continues Rapid Growth as Enterprises Become Internet-centric
Company Achieves Over 100% Bookings Growth as Cloud Adoption Drives Need for Network Intelligence
ThousandEyes, the Network Intelligence company that delivers visibility into every network, today shared results that reveal strong growth in bookings in both domestic and international markets, and continued expansion of product capabilities, locations and executive team leadership. Enterprises' increasing reliance on the Internet as a primary foundation of business fueled 100% year-over-year growth in bookings in both domestic and international markets and drove the addition of marquee customers across financial services, retail and leading technology companies.
ThousandEyes' Unique Approach Perfect Fit for Enterprise Need
As cloud adoption reaches new heights, the Internet has become the new corporate backbone, rendering traditional network monitoring approaches increasingly ineffective. Traditional monitoring approaches rely on traffic capture, and provide a narrow view of the network, highlighting problems when it's too late. ThousandEyes enables organizations to gain an immediate understanding of experience from every user to every cloud application as well as providing critical insights for strategically planning and migrating services to the cloud over time.
"With the surge in cloud adoption, we've seen a rapid growth in enterprises turning to ThousandEyes to categorically understand experience from every user to every application," said Mohit Lad, ThousandEyes CEO and co-founder. "ThousandEyes has innovated an approach based on an unmatched distribution of smart agents across the Internet, enterprise, all the way to the end user. ThousandEyes gathers and analyzes the massive volumes of 'Network Intelligence' data from these vantage points, enabling organizations to solve even the most obscure performance problems in minutes. By using ThousandEyes in the planning and testing phases of cloud adoption, customers can also strategically identify and fix underlying problems before production deployment of the application — something not possible before."
Cloud Adoption Passing an Inflection Point
Recent Gartner reports have noted the adoption of cloud and SaaS services crossing an inflection point with their role in the daily operations of businesses. One report predicts that "By 2021, more than half of global enterprises already using cloud today will adopt an all-in cloud strategy" (Gartner Inc., Predicts 2017: Cloud Computing Enters Its Second Decade, David Mitchell Smith, et al., December 2, 2016).
2016 Marked by Strong Business Growth; Addition of Industry-leading Customers
ThousandEyes recorded over 100% year-over-year bookings growth in both domestic and international markets, adding 18 Fortune 500 customers, and now counts five of the top five SaaS companies and four of the top six US Banks as customers. This includes a doubling of customers in the technology, financial services and media and gaming verticals as well as continued expansion into the healthcare and manufacturing verticals. Notable customers include 1-800-Contacts, Qualys, Collective Health, Comcast Corp., TBWA Worldwide, Wageworks, Luminex, DHI Group Inc., Craigslist, Creative Artists Agency, Conde Nast Publications Inc., Quantcast, Pitney Bowes, Cloudflare, Hi-Rez Studios, Shutterfly, Ellie Mae, and lululemon.
Expanding Operations and Executive Appointments
In order to meet the growing demand for Network Intelligence and meet the needs of an expanding base of customers, ThousandEyes has expanded business operations, including a new sales office in Austin, TX, a second engineering office in London, as well as continuing to double the team in the San Francisco headquarters. ThousandEyes, also made several notable executive appointments to help lead teams and areas that are strategic for long term growth. These executives include Victoria Abeling, director of corporate sales, Prabha Krishna, vice president of people operations, and Ashwin Kedia, vice president of business development.
Customer Engagement Highlights
ThousandEyes held ThousandEyes Connect events in San Francisco and New York City, featuring presentations from leading companies, such as AIM Speciality Health, Cisco, Hi-Rez Studios, Microsoft, Nasdaq, Quantcast, RichRelevance, ServiceNow, Unilever, Verisign and Zendesk. ThousandEyes Connect is a live event where network engineers and web performance practitioners share their experiences tackling tough performance challenges.
ThousandEyes delivered a number of significant product innovations in fiscal 2017:
- Released ThousandEyes Endpoint Agent to extend Network Intelligence to employee laptops and desktops, as well as enterprise network access infrastructure. It enables IT teams to rapidly troubleshoot and resolve end-user performance issues for any application, whether deployed on-premises or in the cloud.
- Released ThousandEyes Internet Outage Detection, the first release focused on Collective Intelligence, to provide a whole new category of insights into the severity, breadth and root cause of issues, down to affected points of presence and interfaces in Internet Service Providers (ISPs). ThousandEyes also announced Agent-to-Agent tests to provide superior visibility for complex Internet routes, such as pinpointing issues caused by performance degradation in the reverse path.
- Released support for Cisco Enterprise Routers to extend the breadth of network visibility with the deployment of Enterprise Agents directly on Cisco Routers at branch locations, such as retail stores and medical offices. ThousandEyes also announced support for the deployment of Enterprise Agents within Docker containers.
- Added Cloud Agent locations, including 28 new metro areas in Saudi Arabia, Canada, Japan, Panama, New South Wales, Czech Republic, Colombia, Uruguay and Estonia. In the US, ThousandEyes deployed agents in Austin, TX, Cheyenne, WY, Salt Lake City, UT and Minneapolis, MN. The rapidly developing market of China also saw a significant expansion in Cloud Agent locations to increase the set of monitoring points in that region.
"The launch of Endpoint Agent, easier deployments of Enterprise Agents, and the continued expansion of our Cloud Agent locations has enabled us to build a truly unique global dataset that consolidates performance measurements and metadata from thousands of distinct vantage points from all across the Internet, into the enterprise, and to the endpoint," said Ricardo Oliveira, ThousandEyes CTO and co-founder. "This enables us to innovate in really profound and interesting ways, such as delivering Internet Outage Detection as part of our vision for Collective Intelligence. The ability to provide actionable insights into complex Internet-centric networks has made ThousandEyes a necessary ingredient for the modern enterprise, and we look forward to continuing to deliver on our vision for Network Intelligence."
In the past year, ThousandEyes earned recognition and accolades from industry press and analyst firms. A Gartner report mentioned ThousandEyes as a representative vendor for Collective Intelligence Benchmarking (Gartner Inc., Innovation Insight for Collective Intelligence Benchmarking, Vivek Bhalla and Will Cappelli, September 26, 2016). Analyst firm IDC included ThousandEyes as an "IDC Innovator for Cloud-Managed Network Monitoring" within the enterprise network management market. CRN included ThousandEyes on its 2016 list of top "Emerging Vendors" in July. And in a December article, Business Insider counted ThousandEyes as one of "51 enterprise startups to bet your career on in 2017."
ThousandEyes provides Network Intelligence for enterprises and service providers to deliver superior digital experiences in an Internet-centric world. Leading companies such as ServiceNow and Twitter, as well as eBay and other Fortune 500 companies, use ThousandEyes to improve performance and availability of their business-critical applications and services. ThousandEyes is backed by Sequoia Capital, Sutter Hill Ventures, Tenaya Capital and GV (formerly Google Ventures), and has global headquarters in San Francisco, CA. For more information, visit https://www.thousandeyes.com or follow us on Twitter at @ThousandEyes.