Funding to Fuel Growth of AI-Driven APM Solution and
Accelerate Global Expansion
SAN FRANCISCO and SOLINGEN,
Germany, Dec. 14, 2017 /PRNewswire/ -- Instana, the
first monitoring solution to apply both automation and artificial
intelligence (AI) to fully automate all aspects of application
performance management (APM), today announced it has raised a
$20 million Series B investment led
by Accel, with participation from existing investor Target
Partners. This brings the company's total funding to $27 million to date. The funding will be used to
grow the company's ability to fulfill the demand from across global
markets and expand the development of its products.
Companies are increasingly relying on container and cloud
technologies to deploy highly dynamic software applications, which
require new management solutions. Since its inception, Instana has
received strong interest from enterprises worldwide that have
become frustrated with the limitations of current solutions'
abilities to keep up with the high rate of application change,
visualize containerized environments, understand performance and
analyze impact.
Through innovations in real-time analysis and the application of
AI, Instana has delivered a solution that represents the new era of
APM monitoring designed from the ground up to work in modern
application environments. By facilitating high speed agile
development and operations, Instana is leading the way into the
next-generation of management tools, enabling IT to deliver
services more quickly and efficiently, and better manage
business-critical applications in containerized environments.
The APM market grew 13% in 2016, according to Gartner Market
Share Analysis: Performance Analysis Software, Worldwide, 2016. *
As enterprise businesses continue to rapidly adopt cloud
technologies and with the wave of IoT firmly on the horizon, the
APM industry is expected to reach $5.6
billion by 2020, Gartner reported in Forecast: Enterprise
Software Markets, Worldwide, 2014-2021, 1Q17 Update.**
"Since our incubation in Germany, Instana focused on delivering to the
needs of monitoring today's modern dynamic application
environments," said Mirko Novakovic,
Instana founder and CEO. "By providing a unique AI-powered
solution, we've succeeded in driving rapid customer adoption,
having been deployed at nearly 100 enterprise customers globally in
just 10 months. The addition of Accel to our existing investor,
Target Partners, is another strong endorsement; their guidance and
support will be critical as Instana continues to scale, mature and
succeed."
Instana's customers are large organizations across multiple
industries, including financial services, healthcare, retail,
communications and cloud-based service providers such as
Edmunds.com, Sixt, iOFFICE, Audi, Trusted Shops and ClearScore.
Instana recently announced intelligent analysis of AWS products and
AI-powered health management of the increasingly ubiquitous
container orchestration platform, Kubernetes.
"Through the use of Instana's AI powered monitoring solution,
Audi's DevOps team was given immediate and precise visibility into
our new containerized fast data platform," said Florian
Schwensfeier, Audi Executive of Development car2x,
Dataplatform and Dataanalytics. "Instana's unique solution is
allowing our teams to rapidly deliver next generation services to
our consumers and confidently deliver them with high quality."
"Across industries, businesses large and small continue to make
application monitoring and engineering for speed top priorities.
Instana's solution delivers the capabilities organizations need to
accelerate the development of customized software to optimize and
grow their business. Highly-technical and knowledgeable experts
with decades of experience in the APM market, the Instana team
collectively shares a vision of what is needed to manage the
performance of today's dynamic applications," said Harry Nelis, Partner, Accel, who will join the
board. "We look forward to partnering closely with Instana to help
drive further growth."
"Instana's founders had a global vision from inception of how to
effectively manage today's dynamic applications. This vision
combines core research and R&D capabilities from the team in
Germany with an experienced sales
and marketing team in Silicon Valley. Through this holistic
approach, the company addresses the key requirements of global
enterprises seeking to leverage dynamic applications as part of
their business growth strategy. We could not be happier with the
market's response to Instana," said Target Partners co-founder and
partner Dr. Berthold von
Freyberg.
* Gartner Market Share Analysis: Performance Analysis Software,
Worldwide, 2016, Federico De Silva,
June 2, 2017.
** Forecast: Enterprise Software Markets, Worldwide, 2014-2021,
1Q17 Update, March 20, 2017.
About Instana:
As the leading provider of Application Performance Management
solutions for containerized microservice applications, Instana
applies automation and artificial intelligence to deliver the
visibility needed to effectively manage the performance of today's
dynamic applications across the DevOps lifecycle. Founded by
application monitoring veterans, Instana provides AI-powered APM to
help organizations deliver high performance applications today and
in the future. Visit us at https://instana.com to learn more.
About Accel
Accel is a leading venture capital firm that invests in people
and their companies from the earliest days through all phases of
private company growth. Atlassian, Algolia, Avito, Cloudera,
Crowdstrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart,
Funding Circle, Kayak, QlikTech, Slack, Spotify, Supercell and
WorldRemit are among the companies the firm has backed over the
past 30 years. The firm seeks to understand entrepreneurs as
individuals, appreciate their originality and play to their
strengths. Because greatness doesn't have a stereotype. For more,
visit www.accel.com, www.facebook.com/accel or
www.twitter.com/accel.
About Target
With €300 million under management, Target Partners is one of
the leading early-stage venture capital firms in Germany. Target Partners invests in new
startup and early-stage companies, and supports them with venture
capital during their build-out and expansion phases. With many
years of experience as managers, entrepreneurs and venture
capitalists, the team at Target Partners supports entrepreneurs in
developing and marketing products and services, building
organizations, raising money and taking companies public in
Europe and the United States.
For more details: www.targetpartners.de, follow us on Twitter:
twitter.com/targetpartners or Facebook:
facebook.com/targetpartners.
Media Contacts:
Instana:
Cinthia Portugal
Guyer Group
Cinthia.Portugal@guyergroup.com
+1 206 619 8183
Accel:
Josephine Salm
Sepia Communications
Josephine@sepiacommunications.com
+44 7776377478
Target Partners:
Stefan Zacher
Sprachperlen GmbH
targetpartners@sprachperlen.de
+49 89 411 53 199
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