The deal brings NS1’s total funding to $125 million to date, with the new funds allowing the firm to “aggressively invest” in product innovation, while expanding engineering capacity to “continue to develop market-leading solutions that power the connected economy”.
“There is heightened urgency to expedite IT modernisation. 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 (pictured), co-founder and CEO, NS1.
“This additional investment at a time of rapid growth at NS1 helps us capitalise 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.”
EIP’s Shawn Cherian, who joined the sustainable energy firm in June, will also now sit NS1’s board of directors. The former Third Point executive leads enterprise infrastructure and software as a service (SaaS) investments at EIP.
He said: “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.
“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,” Cherian added.
NS1’s previous investment rounds saw Cisco and Dell Technologies Capital join the roster of investors.
The company now serves more than 600 enterprise customers following a 159% year on year increase in new customers in H1 of this year. Earlier in July, the firm announced the appointments of a new CFO, VP and global head of people, and president of product marketing.
