Today marks an important milestone for our company. We announced that we have raised $20M in Series B financing led by Sequoia Capital with participation by our existing investor, Greylock Partners.
When my co-founders and I started Skyhigh, the first thing we did was interview 120+ customers to truly understand their pain points before writing a single line of code. The one pain, and opportunity, that was consistently reiterated in all the discussions pertained to the adoption of public Cloud Services. We read that Cloud was enabling a massive disruption in the industry. IDC notably asserted that the impact of Cloud will rival that of the PC more than 25 years ago. However, we were surprised to learn just how viral today’s adoption of public Cloud Services truly is. We learned that the lack of security and compliance due to the ungoverned use of public Cloud Services is introducing untenable business risks and is preventing organizations from reaping the benefit of Cloud. We set to address this precise pain and need.
With that focused understanding of customer pain we hired a world-class team, built a market-leading product, which we launched at RSA 2013, and signed up customers across industries and company size. Our customers include Cisco, Equinix and a host of other household names who choose to remain private. To us, there is no greater satisfaction than to have happy customers who derive tremendous value from our service every single day.
One of our customers, Brian Lillie, CIO of Equinix, said it best, “We have gone from CIO to CI-NO. I want to become the Chief Enabler for my business. Skyhigh lets me do that! ”
The fact that a company can introduce a product and, 3 months later, have production deployments with several companies with hundreds of thousands of employees validates our product’s robustness, maturity, and value proposition. By addressing the risks of unmanaged Cloud adoption and by enabling safe Cloud adoption we are also helping the broader Cloud industry.
This is the validation that attracted the high-powered tandem of Greylock and Sequoia, who in the past have joined forces to partner with category-defining companies such as LinkedIn and Palo Alto Networks. While we already have a growing list of paying customers, this capital will help us rapidly expand our sales, marketing, and engineering teams and quickly scale the company to meet huge demand from customers and partners.
However, we are just getting started. In the coming weeks and months, we will not only be adding new customers but will also be delivering many new features on the Skyhigh Networks platform. Stay tuned and thanks for your support.