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Dyn, the worldwide leader in Internet Performance Management (IPM), announced today that it has secured $50 million in Series B equity funding from Pamplona Capital Management, a leading global private equity firm. This investment will strengthen Dyn’s global go-to-market growth strategy and enable accelerated product development. Additionally, Dyn also announced the public launch of its new platform that will help solve the significant challenges associated with operating critical business applications and infrastructure in the cloud.
“Internet Performance Management is a requirement for global Enterprises as companies leverage the Internet for mission-critical delivery of their business,” said Dyn CEO and co-founder Jeremy Hitchcock. “We have developed the capabilities to provide unique insights and ability to optimize Internet performance through managing the digital supply chain of information flows. 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.”
Dyn’s Platform for IPM offers IT professionals unparalleled transparency across the Internet, as well as traffic management tools that allow them to reroute their Internet-based assets as necessary, optimizing costs and improving response time and availability.
Dyn helps leading global businesses, like Pfizer, Visa, Netflix, Twitter and many more, address their Internet Performance needs. Samir Jafferali, Edge Performance Site Reliability Engineer, LinkedIn, said, “Dyn’s IPM solutions are the first network service every single one of our members use when visiting our site. These solutions have made them a trusted partner as we continue to improve and optimize performance across our global networks.”
Dyn also continues to add new Enterprise customers each quarter. In fact, eight of the top 10 Internet Services / Retail companies and six of the top 10 Entertainment companies in the Fortune 500 use Dyn. These customers recognize the economic benefits that come with embracing the cloud and the need for mitigating the myriad of risks that come with it. Dyn’s Platform delivers the one-stop visibility, analytics and control enterprises need to reliably make the Internet a competitive asset for their business.
Supporting enterprise migration to the cloud has allowed Dyn to grow its revenue by more than 70 percent in the last two years and the Internet Performance Management company expects to surpass $100 million in Annual Recurring Revenue later this year. Yet, there is still much room to grow. IDC identifies Dyn’s market opportunity within the System Infrastructure Software as a Service market, which they estimate will reach more than $10B next year growing at a CAGR of 28 percent through 2019.
Robert Mahowald, Group VP, Applications and Cloud Business Models at IDC, recently stated that, “The dynamics leading to Enterprise multi-cloud adoption and diversification present challenges for edge performance and governance, and strong opportunities for companies with Internet Performance Management solutions. The platform approach Dyn is taking gives its customers a plug-and-play solution to make the most of their cloud configurations. It has tremendous potential for any Enterprise CIO, which is why I think Internet Performance Management is an exciting evolution in how Enterprises will secure and mobilize their important cloud applications and data.”
Pamplona’s investment in Dyn represents its inaugural investment for a new $1 billion U.S.-based Growth Equity fund focused on technology, media and telecommunications investments. As part of Pamplona’s investment, Justin Perreault, a partner, has joined Dyn’s Board of Directors.
“Dyn has built a strong franchise based on running the fundamental and critical Internet infrastructure needs for its brand name customers,” said Perreault. “With a track record of substantial growth, a burgeoning IPM market opportunity and a strong results-orientated management team, Dyn provides a unique and exciting investment opportunity for Pamplona as we grow our U.S. investment presence.”