Instart Logic, the leading cloud application delivery provider that brings speed, security and scale to websites and applications, today announced key milestones to accelerate the next wave of its growth. The company closed a $43 million expansion funding round led by new investors Four Rivers Group and Hermes Growth Partners, with participation from existing investors including Andreessen Horowitz, Kleiner Perkins Caufield and Byers, and Tenaya Capital. The company today also announced the addition of Rafael Torres as Chief Financial Officer (CFO), Shailesh Shukla as vice president of products and strategy, and Justin Fitzhugh as vice president of technical operations.
This expansion round comes at an opportune time in the company’s growth and will be instrumental in fueling accelerated hiring to meet expanding market demand from large enterprises, doubling down on research and development, and expanding the company’s global footprint. Additionally, Instart Logic announced on its blog today that it has been selected by leading global innovators in e-commerce, media, and travel.
The three key hires announced will bring a depth of experience to the company. Torres, a seasoned financial executive with experience leading public and private technology firms, joins Instart Logic on June 1 as CFO. Torres is currently CFO at OCZ Storage Solutions, a Toshiba Group Company and also serves on the board of Ubiquiti Networks. Previously, he held senior leadership roles at Capella Photonics, Power Integrations and PLX Technology, Inc.
Shukla joins Instart Logic as vice president of products and strategy. He has a wealth of business and technology leadership experience in software, networking and mobility. Shukla joins from Cisco Systems, where he held multiple roles, including vice president and general manager of the Mobility Software and Applications Business Unit and vice president and general manager of the Core Routing Business Unit. Prior to Cisco, Shukla held senior leadership roles at Juniper and Redback Networks.
Fitzhugh joins Instart Logic on May 18 as vice president of technical operations, where he will be responsible for expanding the company’s world-class software-defined application delivery infrastructure and ensuring impeccable reliability and scale. He is currently CIO and vice president of technical operations at Jive Software. Prior to Jive, Fitzhugh held senior leadership roles at Mozilla, Adobe and Cisco.
Read Instart Logic founder and CEO Manav Mital’s blog post for more details on today’s announcement.
Instart Logic Key Facts
- Instart Logic is one of the fastest growing companies in the application delivery market and recorded fivefold sales growth in 2014, with more than 400 high-volume websites running on its Software-Defined Application Delivery (SDAD) platform.
- In addition to the new customers announced today, top e-commerce and SaaS companies on its roster include Nasty Gal, Shutterstock and Evite.
- According to a recent study from leading global advisory firm Enterprise Strategy Group (ESG), for the top 30 e-commerce websites based on the Keynote Mobile Commerce Performance Index, SDAD delivers a 75 percent overall reduction in mobile website load times as compared to traditional content delivery networks (CDNs).
- Instart Logic has filed close to 40 patents to date and authored several papers, contributing learned technological insights back to the research community.