Instart Logic, a service that helps businesses speed up the delivery of their cloud applications, today announced that it has raised a $43 million funding round led by new investors Four Rivers Group and Hermes Growth Partners. Existing investors Andreessen Horowitz, Kleiner Perkins Caufield & Byers, as well as Tenaya Capital also participated in this round.
The company has now raised a total $95 million and plans to use this new influx of cash to fuel its expansion through hiring and expanding its R&D efforts. The company also says it plans to expand its international footprint. “To date we have been focused on selling to North America domicile companies and now we are looking to expand, first to Europe and then beyond,” Instart Logic’s founder and CEO Manav Mital tells me. “That being said, by the nature of what we do, we are a global service company because the customers of our customers are global.”
Unlike traditional content delivery networks, which typically work best for static files, Instart Logic focuses on speeding up applications. It does in part by splitting applications in small chunks instead of large single downloads. The service then sends the important parts first so the users can quickly interact with a site while the rest continues to download in the background. Like similar services, it also optimizes image sizes, formats and compression settings to optimize static assets.
Some of the company’s marquee customers include Shutterstock, which is currently moving all of its web traffic over to the service, as well as the likes of Evite and Nasty Gal.
The company also today announced that it is expanding its executive with a number of key hires. Rafael Torres, who is currently the CFO of Toshiba’s OCZ Storage Solutions unit, will be the company’s new CFO. In addition, Instart Logic has hired Shailesh Shukla as its vice president of products from Cisco, and Justin Fitzhugh as vice president of technical operations (he currently holds the same position at Jive Software).
“We are building a world-class team that can develop truly innovative technology and solve customers’ toughest application delivery challenges,” said Manav Mital, founder and CEO at Instart Logic. “Companies globally are switching to Instart Logic and that is great validation and a testament to our strategy and execution.”
