Instart Logic Raises $43 Million for Cloud Application Delivery
May 14, 2015
When the company, Instart Logic, was founded a few years ago, it was created with a simple mission. The goal was to bring an intelligent, fast and scalable solution to face the challenges of application delivery to companies whose business depends on cloud application performance. It was a company designed to provide a cloud-based service for Web publishers to improve site performance over both mobile and Wi-Fi networks.
Back in 2013, the company raised $17 million is Series B funding. This week, Instart Logic announced that it has raised an additional $43 million in a funding round that was led by Four Rivers Group and Hermes Partners. This brings the company’s new total funding up to $95 million.
Instart Logic wasted no time in putting its expansion funding into play as they also announced three key recent hires. Rafael Torres was hired as the company’s chief financial officer (CFO), Shailesh Shukla as vice president of products and strategy and Justin Fitzhugh as vice president of technical operations. All three bring a lot to the table as each has many years of experience in their selected postions.
Manav Mital, who is the founder and CEO if Instart Logic, made the following comments “Instart Logic has a clear vision for the future of application delivery and we are uniquely positioned to reshape this market. We are building a world-class team that can develop truly innovative technology and solve customers’ toughest application delivery challenges. Companies globally are switching to Instart Logic and that is great validation and a testament to our strategy and execution.”
Below are a few key facts about Instart Logic:
- Instart Logic is one of the fastest growing companies in the application delivery market and recorded fivefold sales growth in 2014, with more than 400 high-volume websites running on its Software-Defined Application Delivery (SDAD) platform.
- In addition to the new customers announced today, top e-commerce and SaaS (News - Alert) companies on its roster include Nasty Gal, Shutterstock and Evite.
- According to a recent study from leading global advisory firm Enterprise Strategy Group (News - Alert) (ESG), for the top 30 e-commerce websites based on the Keynote Mobile Commerce Performance Index, SDAD delivers a 75 percent overall reduction in mobile website load times as compared to traditional content delivery networks (CDNs).
- Instart Logic has filed close to 40 patents to date and authored several papers, contributing learned technological insights back to the research community.
Edited by Dominick Sorrentino
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