Secures $22.8 million in first institutional capital to accelerate global expansion and further expand market leadership position
Silicon Valley—February 3, 2010 - Gigamon™, the leading global provider of intelligent data access networking™, today announced it has raised $22.8 million from Highland Capital Partners in its first institutional financing. The capital will be used to further accelerate the company’s growth as Gigamon leverages its market leading position in network monitoring to capitalize on strategic growth opportunities. In conjunction with the investment, Peter Bell and Corey Mulloy, General Partners at Highland, will join Gigamon’s board of directors.
“When we started Gigamon in 2004, we recognized a gap in the data center monitoring market. Today, more than 500 of the top enterprise, government and telecommunications organizations have put their mission critical trust in Gigamon to proactively and pragmatically address the monitoring and security needs of core business network traffic,” said Ted Ho, chief executive officer of Gigamon. “We welcome Highland as our first institutional investor. With their experience in helping to build global market leading infrastructure companies, we’re excited to have Highland’s involvement in achieving the next stage of the company’s growth.”
Since its inception in 2004, Gigamon has focused on delivering intelligent data access solutions to Global 2000 companies. Gigamon’s customers require secure and customized access in monitoring their complex and remote networks. With deployments in over 40 countries, Gigamon has achieved greater than 55 percent year-over-year growth rate for each of the past four years.
“Gigamon is a fantastic success story about a talented team of founders who boot-strapped their way to establishing a market leading, fast growing, profitable company,” added Corey Mulloy of Highland. “The team has executed incredibly well with an exceptional track record of growth and profitability. Gigamon has truly defined a new category in the network monitoring and security industry. As Gigamon is experiencing a dramatic acceleration in the global demand for its network monitoring products, we are excited to partner with them and assist with forging new strategic partnerships and recruiting.”
“The global intelligent data access networking market is exploding, and Gigamon is the dominant market share leader with a best-in-class solution,” added Peter Bell of Highland. “The company experienced significant sales growth in 2009 as organizations around the world look for reliable and secure ways to monitor mission critical data networks. We see the opportunity to extend that lead further.”