It has become mandatory that organizations running their businesses on open source, big data and cloud environments must rethink IT monitoring to address the current business needs. According to a recent Gartner (News - Alert) (News - Alert) report, more than $18 billion was spent on IT operations management software in 2011, a $1.5 billion increase as compared to 2010.
Boundary, an application performance monitoring solution designed for distributed application environments, has distinguished itself by making monitoring effective, affordable and compatible with modern IT architectures. Boundary has announced that it has raised $15 million to speed up its pursuit of revolutionizing IT management. Boundary will use the raised amount to further scale up its business to exploit a massive shift underway in IT environments, which demand a new approach to monitoring and management.
In a press release, Gary Read, CEO at Boundary, said, “Consumers expect cloud apps to work well all the time. In this environment, traditional monitoring systems, with their sample/test/alert approach, are not good enough. Boundary is the only vendor whose system was built for the cloud, monitors performance every second, and delivers actionable insights to users."
The B round of financing was led by Scale Venture Partners and existing investor, Lightspeed Venture Partners. Three months after introducing its application monitoring service, Boundary is tracking 23 billion records daily, and eyes to reach half a trillion by 2013.
Rory O'Driscoll, managing director with Scale Venture Partners, said, “The shift to a cloud-based architecture is unfolding across every area of IT, and as expected, becoming a huge disruptor for systems management software. Boundary has executed on this huge market opportunity with precision, getting a superior product to market and establishing traction with a growing list of tech-savvy customers, including some of our portfolio companies. I'm excited to be an investor and to work with Gary, Cliff and the team as they scale up.”
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