Boundary racks up $22 mln

Boundary said Thursday that it has raised $22 million in Series C funding. Adams Street Partners led the round with participation from Triangle Peak Partners, Lightspeed Venture Partners and Scale Venture Partners. Based in Mountain View, Calif., Boundary is a provider of IT infrastructure monitoring solutions.

PRESS RELEASE

MOUNTAIN VIEW, CA–(Marketwired – Apr 3, 2014) – Boundary, a leader in delivering modern IT Infrastructure Monitoring solutions, announced its $22 million C-round funding, bringing total funding to date to $41 million. The round was led by new investor Adams Street Partners with participation from Triangle Peak Partners as well as existing investors Lightspeed Venture Partners and Scale Venture Partners. The funding will enable the company to continue to expand development of its market leading product and technology as well as significantly bolster its sales and marketing capabilities.
“Today’s application (and enterprise) monitoring tools increasingly fail to meet the needs of Web-scale application environments that IT operations teams are deploying to match the needs of modern agile applications,” according to Gartner*.
Boundary offers customers significant advantages over traditional IT monitoring solutions. As a public or private SaaS-delivered service it is operational within seconds and completely non-intrusive. It is designed for modern application infrastructures such as public/private cloud or hybrid environments where resources are dynamic in nature. At its core is the ability to collect and process hundreds of millions of metrics and events every second using a highly scalable low latency streaming engine. This data is processed in context of the real-time application map, which Boundary builds and updates immediately to reflect changes in the infrastructure or the application.
“Existing infrastructure tools are horrible at connecting issues in the infrastructure to impact on the application. They monitor the wrong things and they fail to monitor with sufficient level of granularity or frequency,” said Bernd Harzog an analyst with The Virtualization Practice. “Even when customers deploy Application Performance Monitoring (APM) solutions, they only have visibility into what you can see from the application runtime (JVM, etc.) and commodity OS level metrics are not enough. Boundary enables companies to understand how the infrastructure is impacting the application, does so with a finer granularity than anyone else and starts to tie together infrastructure configuration changes with application performance.”
Over the last 18 months, Boundary has amassed an enviable customer base that reads like a who’s who of transformative and modern IT environments. Boundary processes up to 2 trillion metrics daily for clients that include Scripps Networks Interactive, Salesforce.com, The Weather Channel, Zendesk, Gilt, Expedia, Infor, Heroku, OneNeck, Websense, HCL Technologies, Rackspace and many others.
“Modern application development methodologies combined with modern operations cultures such as DevOps give organizations the key advantages of rapid time to market and agility. But this can come at the cost of service availability as recent high profile outages have demonstrated. New applications and infrastructures require new monitoring solutions — ones that can embrace the cadence of continuous deployment and elasticity while dealing with the complexity of highly distributed architectures,” said Boundary CEO Gary Read. “Boundary is a new breed of application aware infrastructure monitoring solution where the key emphasis is how the infrastructure affects the application performance.”
“The IT Operations Management market is an estimated $20 billion industry dominated by legacy solutions, and like the disruption we are seeing in many other spaces, Boundary is leading the charge,” said Mike Zappert, Principal at Adams Street Partners. “We spoke to many Boundary customers and found a consistent theme around the unique and highly-valuable visibility provided to them. Multiple customers told us that they found and resolved problems using Boundary that their existing solutions didn’t even see. The Boundary technology combined with the amazing, proven team will lead infrastructure monitoring into the modern era.”
“You can run any application in the cloud and on modern architectures, but using someone else’s infrastructure means blind spots. We were impressed by how quickly Boundary was up and running for their customers. Often in minutes they were handling massive amounts of customer data. Their customers consistently commented on how Boundary’s real time visibility and alerting was critical, which allowed them to speed up identification times and often avoid issues and outages,” said Dain DeGroff, co-founding partner of Triangle Peak Partners.
“Early on we were impressed by Boundary’s innovation and forward thinking. They identified the new challenges that would come from distributed, cloud and ephemeral architectures. They were building and deploying real-time ‘big data’ analytics when most companies had no idea what that meant,” said John Vrionis, partner at Lightspeed Venture Partners. “DevOps and IT Operations teams moving to new distributed and cloud architectures have been flying infrastructure blind and that’s exactly where Boundary comes in — to give them visibility into previously unseen issues.”
“Two key signs we look for as companies come out of their first couple years are enterprise adoption and growing business in existing accounts. In a very short time window, we’ve seen big enterprises deploy Boundary and consistently expand their footprints. We think the timing is excellent as there’s an acceleration of companies moving their data centers and custom applications into the cloud, requiring exactly the type of visibility Boundary delivers,” said Andy Vitus, partner at Scale Venture Partners.
*Gartner, Building a Modern APM Architecture for the World of Web-Scale IT, Jonah Kowall, Cameron Haight, December 6, 2013.
About Boundary
Boundary’s allows customers to monitor their entire IT environments from a single place and in real time. It is uniquely designed to deal with challenges stemming from modern, highly distributed applications and ever changing infrastructures. Boundary’s best-in-class IT infrastructure monitoring and event management service, enables customers to collect and correlate millions of metrics and events, process them in real-time using its streaming technology and enable Ops/DevOps professionals to quickly see the total picture. Boundary is privately held, based in Mountain View, CA and backed by Adams Street Partners, Triangle Peak Partners, Lightspeed Venture Partners and Scale Venture Partners. For more information on Boundary visit us on the web at www.boundary.com or on www.twitter.com/boundary.

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