ThousandEyes Acquisition, Valuation, Funding & Investors
ThousandEyes was acquired by Cisco for $1B in May 2020, a 10.0x multiple on $100M of revenue.
ThousandEyes revenue at acquisition
$100M
Last twelve months · May 2020
ThousandEyes revenue multiple at acquisition
10.0x
EV/Revenue · May 2020
Cumulative funding ThousandEyes raised
$111M
across 4 funding rounds
About ThousandEyes
ThousandEyes is a San Francisco-headquartered network intelligence platform monitoring internet performance worldwide. Its cloud sensors track BGP routes, DNS resolution, and application delivery for clients like Comcast, eBay, and HP. Acquired by Cisco in 2020, ThousandEyes provides visibility into WANs and cloud migrations, serving over 60 Fortune 500 companies including top US banks and SaaS providers like Workday.
Founded
2010
HQ
San Francisco, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Feb 2019)
Valuation
$670M (Feb 2019)
ThousandEyes Acquisition
ThousandEyes was acquired by Cisco for $1B on 28 May 2020.
The acquisition price implies a 10.0x revenue multiple on $100M of revenue.
Before the acquisition ThousandEyes had raised $111M across 4 funding rounds.
ThousandEyes is a network intelligence and cloud analytics software company founded in 2010 that provides internet and cloud monitoring capabilities. The platform collects data from various access points including data centers and consumer devices to identify potential disruption sources and ensure optimal delivery of websites, applications, and services. The company had raised over $110 million from investors including Alphabet's GV, Salesforce Ventures, Sequoia Capital, and others, with a prior valuation of $670 million as of February 2019. Cisco announced its intent to acquire ThousandEyes on May 29, 2020, for a reported valuation of approximately $1 billion, with the transaction closing on August 7, 2020. The acquisition was driven by the strategic importance of internet visibility and monitoring capabilities, particularly accelerated by widespread remote work adoption during the COVID-19 pandemic. Cisco planned to integrate ThousandEyes' technology into its Networking Services division and across its core Enterprise Networking, Cloud, Security, and Application portfolios to provide end-to-end visibility across enterprise, internet, and cloud networks. ThousandEyes' customer base included major technology and financial services companies such as Microsoft, Slack, PayPal, Lyft, eBay, MasterCard, and US Bank. The company had reported $100 million in annual recurring revenue under contract for its 2020 fiscal year as of March 2020. Post-acquisition, ThousandEyes founders and executives, including CEO Mohit Lad and CTO Ricardo Oliveria, continued to lead the business as a general manager within Cisco's Enterprise Networking division.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 28 May 2020 | Strategic M&A | $1B | 10.0x |
ThousandEyes Valuation
ThousandEyes is currently valued at $670M, based on its Series D in February 2019.
The $50M round was led by GV, with participation from Salesforce Ventures, Tenaya Capital, Sutter Hill Ventures, Sequoia Capital and Thomvest Ventures.
ThousandEyes' valuation has grown 2.5x from $271M at its Series C in February 2016 to $670M in February 2019, across 2 priced rounds.
ThousandEyes valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2019 | Series D | $670M | 6.7x |
| Feb 2016 | Series C | $271M | - |
ThousandEyes Revenue
ThousandEyes' latest recorded revenue is $100M, as of its Series D in February 2019. At a $670M valuation, that implies a 6.7x revenue multiple.
ThousandEyes revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2019 | $100M | $670M | 6.7x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ThousandEyes Funding History
ThousandEyes has raised a total of $111M across 4 funding rounds.
ThousandEyes' first fundraising round was a $6M Series A in June 2013. The most recent completed round was a $50M Series D in February 2019.
ThousandEyes funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2019 | Series D | GV (lead); Salesforce Ventures; Tenaya Capital; Sutter Hill Ventures; Sequoia Capital; Thomvest Ventures | $50M | $670M | ThousandEyes is a network intelligence startup founded in 2010 that provides actionable intelligence into digital experiences for the cloud, Internet, and enterprises, often described as 'Google Maps for the Internet.' It helps IT teams monitor network paths for websites, applications, and services to identify issues like slowdowns or outages before impacting end users, using cloud-based agents in data centers across 54 countries and enterprise-deployed sensors. On February 20, 2019, ThousandEyes raised $50 million in a Series D funding round led by GV (formerly Google Ventures), with participation from new investor Thomvest Ventures and existing investors Salesforce Ventures, Sequoia Capital, Sutter Hill Ventures, and Tenaya Capital, bringing total funding to over $110 million. The funds were allocated to product innovation, accelerating go-to-market activities, expanding global operations (including a new Dublin office), and investing in digital experience monitoring for the $206 billion cloud market. The company reported significant revenue growth in FY19 (ended January 31, 2019) across technology, financial services, and retail sectors, with customers including 20 of the top 25 SaaS companies, six of the top seven U.S. banks, four of the top five UK banks, over 65 Fortune 500 firms, and more than 120 Global 2000 companies. GV's Dave Munichiello highlighted remarkable traction with Fortune 500 customers and mission-critical visibility into networks amid cloud reliance. ThousandEyes focused on international expansion and product development post-round. In 2020, Cisco acquired the company for a reported $1 billion, following its $670 million valuation in the 2019 Series D. |
| Feb 2016 | Series C | Tenaya Capital (lead); Salesforce Ventures; Sutter Hill Ventures; GV; Four Rivers Group; Sequoia Capital | $35M | $271M | ThousandEyes, a network intelligence company providing visibility into every network including public Internet and third-party services, closed a $35 million Series C funding round on February 25, 2016, led by Tenaya Capital with participation from GV (formerly Google Ventures), Four Rivers Group, Sequoia Capital, Sutter Hill Ventures, and Salesforce Ventures. The post-money valuation was $271 million, bringing total funding to over $60 million to support expansion in North America and worldwide, new product innovations, and customer success. The company had previously raised a $20 million Series B in 2014 led by Sutter Hill Ventures. For fiscal year ended January 31, 2016, ThousandEyes reported 130% year-over-year bookings growth and 115% new customer growth, more than doubling customers in technology, financial services, and media verticals while entering manufacturing and healthcare. Customers included major organizations across industries. This 2016 round preceded a $50 million Series D in February 2019 led by GV at a $620-$670 million valuation, with participation from Salesforce Ventures, Thomvest Ventures, Sequoia, Sutter Hill, and Tenaya, bringing total funding over $110 million. ThousandEyes was acquired by Cisco in 2020 for approximately $1 billion, integrating its cloud analytics for network disruption identification into Cisco's Networking Services division. |
| Dec 2014 | Series B | Sutter Hill Ventures (lead); Salesforce Ventures; Sequoia Capital | $20M | - | ThousandEyes, a network performance management company founded in 2010, emerged from stealth in 2013 with a platform providing detailed network visibility from enterprise networks to cloud applications. The company raised $5.5 million in Series A funding in June 2013 from Sequoia Capital and angels, followed by a $20 million Series B round in late 2014 led by Sutter Hill Ventures with participation from Salesforce Ventures, existing investor Sequoia Capital, and Silicon Valley angels. The Series B funding was designated for accelerating product development, supporting growth in North America and Europe, and launching a free version of the ThousandEyes product. By the Series B period, ThousandEyes had achieved rapid customer adoption including enterprise clients such as Equinix, Flextronics, ServiceNow, Twitter, four of the six largest global banks, eBay, and other Fortune 500 companies. The company was recognized as a Cool Vendor by Gartner and received the Network Innovation Award from TechTarget. ThousandEyes would go on to raise $35 million in Series C funding from Tenaya Capital in 2016 and $50 million in Series D from GV (Google Ventures) in February 2019 at a $670 million post-money valuation, before being acquired by Cisco for $1 billion in 2020. |
| Jun 2013 | Series A | Sequoia Capital (lead) | $6M | - | ThousandEyes raised $5.5 million in Series A funding on June 19, 2013, from Sequoia Capital and Silicon Valley angel investors. The company emerged from stealth at Structure 2013, launching a product that provides IT performance management for the cloud era, offering visibility into networks outside enterprise environments to help resolve service degradations. ThousandEyes addresses gaps in legacy tools by delivering detailed insights into cloud application performance. The platform enables enterprises to monitor packet drops, high latency, bandwidth issues, and routing via Border Gateway Protocol analysis, distinguishing problems in SaaS providers, enterprise environments, or the Internet. Early customers included Fortune 500 companies, Equinix, Evernote, Priceline, Twitter, Zendesk, and Zynga. Funds were allocated to accelerate the product roadmap and growth. |
Who has invested in ThousandEyes?
7 investors have backed ThousandEyes across its funding rounds, including Sequoia Capital, Salesforce Ventures, Sutter Hill Ventures, GV, Tenaya Capital and Thomvest Ventures.
Lead investors include GV, Tenaya Capital, Sutter Hill Ventures and Sequoia Capital.
ThousandEyes Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Jun 2013 | |
| San Francisco, CA | 3 | Participant | Dec 2014 | |
| San Francisco, CA | 3 | Lead | Dec 2014 | |
| San Francisco, CA | 2 | Lead | Feb 2016 | |
| San Francisco, CA | 2 | Lead | Feb 2016 | |
This data is available for Pro users. Sign up to see all 7 ThousandEyes investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialThousandEyes Competitors
ThousandEyes competitors include listed companies like Elastic, Dynatrace and VeriSign, and private ones like Nile, Edge Delta and Dash0.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Jose, CA | Private | $8M | - | $775M | 96.9x | |
| Seattle, WA | Private | - | - | $427M | - | |
 Netherlands | Publicly listed | $1.7B | $35M | $9.3B | 4.6x | |
| United States | Publicly listed | $2B | $276M | $16B | 7.0x | |
| United States | Publicly listed | $1.7B | $1.2B | $27B | 16.6x | |
| New York City, NY | Private | - | - | $1B | - |
ThousandEyes Public Comps
ThousandEyes is no longer listed, but its public comps include Sify Technologies, Beijing Join-Cheer, PagerDuty, Clarivate, Asiainfo Security, Red Violet, N-able, WingArc1st, Similarweb and Datagroup.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $468M | $107M | 3.2x | 2.0x | 13.8x | 8.2x | |||
| $386M | $11M | 1.9x | - | 68.9x | - | |||
| $493M | $17M | 2.2x | 2.2x | 64.6x | 7.7x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $1.2B | ($11M) | 1.2x | 1.1x | (126.2x) | 339.7x | |||
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
| $509M | $80M | 2.1x | 2.0x | 13.5x | 6.8x | |||
| $199M | $70M | 3.5x | 3.3x | 10.0x | 10.5x | |||
This data is available for Pro users. Sign up to see all ThousandEyes competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ThousandEyes
| When was ThousandEyes founded? | ThousandEyes was founded in 2010. |
| Where is ThousandEyes headquartered? | ThousandEyes is headquartered in San Francisco, CA, United States. |
| Is ThousandEyes publicly listed? | No, ThousandEyes was acquired by Cisco in May 2020. |
| Who acquired ThousandEyes? | ThousandEyes was acquired by Cisco in May 2020. |
| How much was ThousandEyes acquired for? | ThousandEyes was acquired for $1B in May 2020, a 10.0x revenue multiple. |
| What is ThousandEyes' valuation? | ThousandEyes was last valued at $670M in its Series D in February 2019. |
| How much funding has ThousandEyes raised? | ThousandEyes has raised $111M across 4 funding rounds. |
| What was ThousandEyes' last funding round? | ThousandEyes' last funding round was a $50M Series D in February 2019, led by GV. |
| Who are ThousandEyes' investors? | ThousandEyes' investors include Sequoia Capital, Salesforce Ventures, Sutter Hill Ventures, Tenaya Capital, GV, Four Rivers Group and Thomvest Ventures. |
| What is ThousandEyes' revenue? | ThousandEyes' latest recorded revenue is $100M (February 2019). |
| What is ThousandEyes' revenue multiple? | ThousandEyes' latest valuation implies a 6.7x revenue multiple ($670M valuation on $100M of revenue). |
| Which companies are comparable to ThousandEyes? | Companies comparable to ThousandEyes include Nile, Edge Delta, Elastic, Dynatrace, VeriSign and Dash0. |
See companies similar to ThousandEyes
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.