NS1 raised a $40 million Series D venture round led by Energy Impact Partners (EIP) with participation from existing investors, bringing the company’s total funding to $125 million.
The investment, a testament to NS1’s growth, will support the company’s continued innovation and development of modern foundational technologies that power the connected economy.
Past investments from Cisco and Dell Technologies Capital created opportunities to extend NS1’s market reach and magnify the company’s distribution channel. The most recent round of funding, which represents a significant increase in valuation for the company, will allow NS1 to more aggressively invest in product innovation, and expand the company’s engineering capacity so it can continue to develop market-leading solutions that power the connected economy.
“There is heightened urgency to expedite IT modernization. Five-year projects are being condensed to one-year, and the only way to deliver on these aggressive timelines is by unlocking leverage in foundational application and networking infrastructure,” said Kris Beevers, co-founder and CEO for NS1. “This additional investment at a time of rapid growth at NS1 helps us capitalize on the market opportunity to meet the escalating demand for the modern foundational technologies used by every business, enabling them to quickly adapt to changing environments, more effectively control costs, and deliver reliable, secure, and exceptional user experiences.”
Shawn Cherian, partner at EIP, will join NS1’s Board of Directors as part of the round. Cherian said that EIP’s investment in NS1 represents a growing appetite from the firm’s limited partners to integrate with category-leading companies and invest in enterprise SaaS solutions. He cited NS1’s role in meeting connectivity requirements generated by the rapidly increasing number of connected devices as a primary area of growth.
“As enterprises shift to the cloud and their environments become more complex, fundamental infrastructure solutions, like those provided by NS1, will play a critical role in allowing companies to expand more effectively,” said Cherian. “NS1 is the leading next-generation DNS platform and has defined the standard for performance, resilience, and scale, which will continue to have broad applicability for internet services and solutions across verticals.”
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