Catchpoint completed a $22.5 million (US) Series C funding round, led by new investor Sapphire Ventures with participation from existing investor Battery Ventures, which has provided capital in each Catchpoint funding round.
The proceeds are earmarked for expanded product development and global go-to-market strategies.
With this new funding, Rajeev Dham of Sapphire Ventures will join the Catchpoint board of directors.
“After several years of steady growth in both revenue and market share, we’re very excited to partner with Sapphire Ventures to take the next steps forward as a company,” said Catchpoint CEO and co-founder Mehdi Daoudi. “Sapphire Ventures’ experience in SaaS and scaling enterprise companies will be invaluable as we continue to grow and improve our product, and help companies around the globe deliver amazing digital experiences to their customers.”
“Sapphire Ventures is thrilled to back Catchpoint on its mission to help enterprises optimize end-user performance,” said Dham. “As end users increasingly interact with businesses through a variety of digital touch points, Catchpoint’s platform has become even more mission critical. We believe Catchpoint is well-positioned to become the next-generation leader in the space and look forward to leveraging our global enterprise network to help the company on its journey.”
“With more businesses moving online and to the cloud, managing IT infrastructure has become increasingly complex,” said Neeraj Agrawal, a General Partner at Battery Ventures. “Catchpoint’s ability to proactively monitor this infrastructure and the end-user experience is critically important, especially as performance - including uptime and speed - becomes directly correlated with overall business performance.”
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