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June 02, 2014

Wheelings & Dealings: ExtraHop Closes Series C Funding on a High Note

What is wire data? It is the information that is readily available on the wire, but until now was not accessible in real-time or in a way it can be easily understood. According to ExtraHop, the company's Operational Intelligence Platform is able to analyze all L2-L7 communications, including full bidirectional transactional payloads. For the first time it is possible to analyze the large volumes of data that pass over the wire in real-time, so IT operations professionals can gain correlated, cross-tier visibility essential for application performance, availability, and security in IT environments. The company has seen rapid growth and adoption of its technology by global enterprises, and the latest round of investment is designed to encourage more innovation and expansion.

The company received $41 million in Series C funding bringing its venture capital total to $61.6 million. The investment was led by Technology Crossover Ventures (TCV) and existing investors Meritech Capital Partners and Madrona Venture Group, as well as private investors including Sujal Patel, the former CEO and founder of Isilon Systems. The company announced the round of investment will be used to accelerate growth in new geographical markets and technology innovation by establishing the IT Operations Analytics (ITOA) category with its wide data analytics platform.

ExtraHop (News - Alert) has grown 150 percent year-over-year in revenue between 2012 and 2013 since it closed its Series B round in 2011. Currently the company represents some of the largest enterprises in the world across many different sectors, including Lockheed Martin (News - Alert), Morgan Stanley, Concur, Purdue Pharma, and McKesson. It has acquired these organizations and others by launching award-winning innovative solutions and that gives IT professionals access to more data than ever before.

The process of transforming raw wire data into valuable IT insights in which businesses can use is no easy feat. It requires many different capabilities and according to ExtraHop it does this by:

Reassembly of all packets into per-client transactions, flows, and sessions

Decoding of wire protocols—HTTP/S, MQ, SOAP, SQL, CIFS, LDAP, etc.—for application fluency

Contextual analysis of this transactional information understanding the who, what, why, when, how, and where of the transaction. This includes correlated network, web, database, or storage performance and availability for clients and servers involved in the original transaction.

Integration with other analytic systems, such as those that make sense of machine data

Programmability, so that IT organizations can define new metrics to answer ad hoc questions; IT organizations are not limited to the metrics that the vendor has defined for them.

It also includes: SSL Decryption, TCP State Reconstruction, and Full-Stream Reassembly; L2-L7 content analysis and intelligent protocol framework; device and application auto-discovery and classification; streaming data source and historical trending and alerting engine; and an API application and inspection triggers.

"We're establishing the entirely new category of ITOA, which provides an unmatched source of truth about business and IT operations through sophisticated analysis of wire data. The investment from TCV, known for backing some of the industry's most notable and disruptive enterprise brands, further validates our mission and will significantly accelerate our pace of innovation," said Jesse Rothstein (News - Alert), CEO, ExtraHop.

Edited by Maurice Nagle

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