Internet Optimiser Dyn Raises £35m In New Funding
Internet performance management vendor Dyn cashes in on healthy 2016 outlook
Internet performance management provider Dyn has raised $50 million (£35m) in Series B funding through UK-based investment manager Pamplona Capital Management.
Starting off in the DNS market, Dyn now monitors online infrastructure for customers. The company gets feedback from a global variety of ISPs, CDNs, and cloud providers that measure latency and performance, helping its own customers run their infrastructure better.
‘Shiny unicorn’
Some of Dyn’s customers include Twitter, Netflix Visa and CNBC, and a source told TechWeekEurope: “It isn’t one of the shiny unicorns we normally hear about receiving huge amounts of funding.”
Dyn is predicting hitting $100 million (£69m) in revenue this year, with Q1 2016 the company’s fourth consecutive quarter of record year over year recurring revenue growth.
Last year, Dyn released a tool called Internet Intelligence that claims to show businesses how best to route their global traffic and where to place their data centres to achieve top performance from different markets around the world.
“It’s fundamentally the ability to see the Internet and understand how it’s performing and operating,” EMEA managing director Paul Heywood told TechWeekEurope at the time. Dyn had previously raised $38 million (£26m) in Series A funding in October 2012.
Dyn’s CEO, Jeremy Hitchcock, said that the his company is critical for the delivery of business.
“We have developed the capabilities to provide unique insights and ability to optimise Internet performance through managing the digital supply chain of information flows,” he said.
“Pamplona’s investment demonstrates a strong commitment to executing on the multi-billion-dollar opportunity and driving an aggressive, industry-leading go-to-market strategy and set of platform capabilities.”
