IP Fabric Raises $4.1 Million In Series A Funding Round
Senovo and Presto Ventures lead the round, scaling IP Fabric’s operations and market reach, as the company grows 350% in year over year monthly recurring revenue.
Prague, Czechia – Sep. 22, 2020 – IP Fabric, the leading provider of network assurance and intent-based network analytics for large-scale enterprise networks, has secured €3.5 million (apx. $4,1 Million) in a Series A funding round led by Senovo and Presto Ventures. Existing investors, Credo Ventures among others, have also participated in this round. The investment comes on the heels of 350% year over year monthly recurring revenue growth and will help to scale the company’s operations and market reach.
IP Fabric was founded in 2015 by network engineering experts to deliver the next generation of network automation solutions. The company focuses on solving the growing challenges faced by enterprises managing complex and large-scale network infrastructure: from visibility, through predictability, to compliance.
Network failures and outages are among the biggest risk exposures to any enterprise. They account for significant revenue losses each year and have the potential to disrupt entire businesses. Moreover, the rise in complexity causes security and reliability issues. IP Fabric helps enterprises to prevent incidents and to save substantial time and cost when managing their networks by providing cross-domain visibility and a comprehensive view of the global network infrastructure and its interdependencies.
“Customers are using IP Fabric as a foundation for network automation solutions and for sound network strategy planning. But the security teams also love our solution – IP Fabric reveals previously hidden risks, such as critical systems that were not previously monitored or firewall bypasses. Overall, it creates a single source of truth for the network infrastructure.”Pavel Bykov, founder and CEO of IP Fabric
IP Fabric’s automated network assurance platform provides plug and play intent-based networking technology to network and security engineering teams. Current customers using IP Fabric to secure smooth network operations and avoid outages include Airbus, SAP, and Major League Baseball.
„IP Fabric allows us to have a real feedback loop on network status with a transversal view. We saw benefits from day one. It enables us to consolidate internal tools into a single source, with a proper diagramming feature and extensive network data collection. Furthermore, the embedded network experience included in our predefined reports allows the operation teams to be more efficient in their day-to-day activities.“Julien Manteau, Network Solutions Architect Lead at IP Fabric’s customer Airbus
The Series A financing will further grow the organization and expand IP Fabric´s market reach to deliver their solution to more global enterprise customers and satisfy the rising demand for the network automation solutions.
“We have been impressed by the rapidly growing list of US and European enterprises trusting IP Fabric with their most critical network infrastructure.”Markus Grundmann, Partner at lead-investor Senovo
“IP Fabric has all the ingredients to succeed globally – product advantage thanks to the industry expertise of founders and confirmed by the rapidly growing customer base. The right timing to enter the market as intent-based networking needs are currently on the rise. And primarily, a talented team committed to the mission. We are happy to be part of it.”Premysl Rubes, Partner at Presto Ventures
About IP Fabric
IP Fabric, Inc. is headquartered in New York, with offices in Prague, Czech Republic, and is a leading solutions provider of network assurance and intent-based network analytics for hybrid and large-scale networks.
Its proven automated network assurance platform serves as a single source of truth for the network infrastructure, enabling policy standardization, continuous compliance, incident prevention and automation. The platform seamlessly integrates into existing workflows through comprehensive technology coverage and open automation frameworks.
Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe.
As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions.
Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at www.medium.com/senovovc.
About Presto Ventures
Presto Ventures is an investment firm focused on tech B2B early-stage start-up companies, both SaaS and Enterprise. Supports talented founders that have the potential and drive to succeed in global markets – build an innovative product in Central or Eastern Europe and bring it to the western customers. Founded in 2016 in Prague, Presto has so far invested in 20 companies across CEE. Notable investments include Cloudtalk, Sharry, Yieldigo, Oddin, or Simpleway.
About Credo Ventures
Credo Ventures is a Prague-based venture capital firm that partners with outstanding technology founders from Central Europe to realize their global ambitions. Credo has been investing in Seed and Series A stages since 2010, focusing primarily on B2B enterprise software companies. Credo manages € 170 million across 3 funds and has invested in more than 55 startups to date. Its notable investments include UiPath, productboard, PriceFx, Apiary or Cognitive Security.