Business, Investments

Instart Logic raises $26M in Series C

California based, cloud application delivery service provider has raised USD 26 million in Series C round, as announced by the company on Tuesday. The round was led by Kleiner Perkins Caufield & Byers (KPCB) with participation from prior investors Andreessen Horowitz, Greylock Partners, Sutter Hill Ventures and Tenaya Capital.

The proceeds from this round will be used to expand sales and marketing and accelerate research and development. Till date, including the recent investment, the company has raised USD 43 million. 

Launched in 2010, Instart Logic is a venture of three founders of Indian origin viz. Hariharan Kolam, Manav Mittal and Raghu Venkat. It offers a cloud-client platform and web application streaming technology to help organizations deal with performance challenges in wireless connections and makes content delivery networks (CDNs) obsolete. 

Its customer base has grown by more than 500 percent over the past year. Clients include brands such as One Kings Lane, Volcom, Washington Post, and Omni Hotels.

The growth in mobile devices, wireless access and application size has created new “last mile” bottlenecks in application performance. For e-commerce, SaaS and media companies, poor application performance leads to lost revenue, user dissatisfaction and fewer page views. “We’ve only scratched the surface of our technology potential”, said Manav.

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