On-Track to Hit $100M in Annual Recurring Revenue in Early 2020 Just Over Four Years After Inception, New Investment Will Help HeadSpin Deepen Position Within Cloud Ecosystems
PALO ALTO, Calif.–(BUSINESS WIRE)–HeadSpin, the company that ensures flawless connected experiences enabled by web, mobile, IoT and 5G, today announced a $60 million Series C funding round led by Dell Technologies Capital and ICONIQ Capital with participation from institutional investors Tiger Global Management, Kearny Jackson, and Alpha Square Group. The round brings the total amount raised since inception to $117 million. HeadSpin will use the funding to develop new product offerings, expand into new market segments, and deepen position within cloud ecosystems.
HeadSpin also announced that Nikesh Arora, Chairman CEO of Palo Alto Networks, has joined the company Board of Directors as Chairman of the Board. Arora is the former Chief Business Officer at Google who most recently served as President and COO of SoftBank prior to joining Palo Alto Networks.
Also participating in the round are leading angel investors, including LinkedIn’s Jeff Weiner, We’s Shiva Rajaraman, Calm’s Alex Will, Notion’s Akshay Kothari, Bumble’s Derek Callow, Caviar’s Gokul Rajaram, Uber’s Manik Gupta, Stripe’s Amber Feng, Facebook’s Kevin Weil and Andrea Moore, OpenDoor’s Sheila Tran, AngelList’s Sunil Pai, Supercast’s Jason Sew Hoy, mParticle’s Michael Katz, SVB’s Cheryl Sew Hoy, Airbase’s Thejo Kote, Spotify’s John Bonten, Twitter’s Lisa Kleinsorge, and Pinterest’s Ali Altaf.
“HeadSpin’s extraordinary technology has broken barriers and redefined the frontier of testing, monitoring, and analytics across devices, locations and networks to understand a customer’s connected experience. This means business, development, devops, and product teams can finally be on the same page and focus on what matters most: delivering high quality, innovative digital experiences enabled by web, mobile, IoT, and 5G,” said Nikesh Arora.
Understanding that connected experiences enabled by web, mobile, IoT, and 5G technologies have become the primary point of interaction between companies and their customers, HeadSpin developed the world’s first Connected Intelligence Platform™ to unify testing, monitoring and analytics across applications, devices, and networks. This enables companies to optimize the functionality and performance of connected experiences throughout the development lifecycle and across the increasingly complex ecosystem of software and infrastructure used to reach today’s global audiences.
“HeadSpin has achieved remarkable results in only four years,” said Deepak Jeevankumar, Managing Director, Dell Technologies Capital. “Not only has the team managed exceptional sales execution, but it created a new solution category that is now the standard for how the best consumer and enterprise G2000 companies ensure top-notch connected experiences for their users and customers. HeadSpin today is one of the fastest-scaling software companies I’ve seen in my 10 years of investing and has truly exceptional growth potential.”
Since launching in 2015, HeadSpin has doubled its annual revenue year-over-year, earning the trust of over 1,000 enterprise customers and telco operators. New HeadSpin enterprise customers include Microsoft, Tik Tok, Bandai Namco Studios, Yahoo!, Uber, DeNA, AirBnB, Kohls, ByteDance, BYJUs, Optus, Australian Post, Telefonica, and Walmart. As part of their international expansion, the company also recently opened regional offices in London, Tel Aviv, Berlin, and Cape Town to address increasing customer demand in Europe, Middle East and Africa.
“HeadSpin is well-positioned to take advantage of this huge market opportunity as enterprises transition to providing higher-quality digital and mobile experiences.” said Manish Lachwani, CoFounder and CEO, HeadSpin. “We’re privileged to be able to grow the company with our excellent team, partners and investors.”
HeadSpin is the world’s first Connection Intelligence Platform™ that provides Web, Mobile, IoT, and 5G solutions to unify testing, monitoring, and analytics across applications, devices, and networks. HeadSpin empowers development, QA, operations, and product teams to optimize connected experiences and ensure digital business success. Find out why HeadSpin is trusted by some of the largest enterprises in the world at https://www.headspin.io, on Twitter @HeadSpin_IO, and on LinkedIn at https://www.linkedin.com/company/headspin/
About Dell Technologies Capital
Dell Technologies Capital is the global venture capital investment arm of Dell Technologies. The investment team backs passionate early stage founders who push the envelope on technology innovation for enterprises. Since inception in 2012, the team has sustained an investment pace of $150 million a year and has invested in more than 100 startups, 40 of which have been acquired and 5 have gone public. Portfolio companies also gain unique access to the go-to-market capabilities of Dell Technologies (Dell, Dell EMC, VMWare, Pivotal, RSA, Secureworks). Notable investments include Adallom, Arista Networks, Cylance, Docusign, Graphcore, JFrog, MongoDB, Netskope, Nutanix, RedLock, RiskRecon, TwistLock, Wavefront and Zscaler. Headquartered in Palo Alto, California, Dell Technologies Capital has offices in Boston, Austin, and Israel. For more information visit www.delltechcapital.com.
About ICONIQ Capital
ICONIQ Capital is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders and institutions around the world. The firm invests in technology growth equity and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify global impact and support a new generation of entrepreneurs and companies. For a full list of investments made by ICONIQ Growth, an affiliate of ICONIQ Capital, please visit here.