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Technology Crossover helps ExtraHop raise $41m Series C

29 May 2014

dataVenture capital firm Technology Crossover Ventures has led a $41m Series C for wire data analytics provider ExtraHop.

Existing backers Meritech Capital Partners and Madrona Venture Group also supported the round as did private investors including Sujal Patel, former CEO and founder of Isilon Systems.

The Series C brought ExtraHop’s fundraising total to $61.6m.

ExtraHop will use the funds to further develop its tehcnology and expand into new geographical markets.

TCV principal Ted Coons said, “Just as Splunk’s platform fundamentally changed the way businesses leverage machine data, ExtraHop has transformed wire data into a key source of visibility and intelligence for IT operations teams with its Wire Data Analytics platform.

“Led by a team with extensive expertise in virtualization, application delivery, and network technologies, ExtraHop is reshaping the way IT approaches management of its operations.

“The ExtraHop Wire Data Analytics platform provides CIOs, CTOs, and IT Operations teams with the insight they need to translate rich wire data into tangible business value.”

Earlier this year Technology Crossover closed its first fund in seven years on $2.23bn.

TCV VIII is focused on providing growth equity capital to technology companies focused on the internet, business and financial services, infrastructure and software.

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