Czech startup IP Fabric, which helps big companies manage and secure their IT networks, has raised a $25m Series B funding round led by British VC firm One Peak.
The startup, which counts companies such as Airbus, Air France, and Blackberry as clients, now wants to expand across Europe and North America.
The raise is also the largest round recorded in the Czech Republic this year, according to Dealroom.
What does IP Fabric do?
IP Fabric’s platform helps big corporates, like multinational companies and public utilities, to monitor, visualise and secure complex IT networks — think all the devices, networking equipment, cloud services and infrastructure that makes up a typical enterprise network. It’s a difficult task given those networks are often widely spread geographically and can include hundreds of thousands of pieces of hardware, various configurations and security policies.
This helps large enterprises reduce the risk of outages or failure. “Think about a bank’s network — if it goes down, customers can’t withdraw cash or pay their bills. In a hospital, a network outage might mean that you can’t access electronic patient health records or ensure remote patient monitoring is working properly. A modern enterprise can’t run without a resilient network,” says Pavel Bykov, the company’s cofounder and CEO.
The startup was founded in Prague in 2015. It’s now headquartered in the US, but its biggest office remains in the Czech capital. It employs over 100 people worldwide and works with over a hundred enterprise customers globally.
What’s the market like?
The company’s competitors include US businesses such as NetBrain and Forward Network. Some incumbents, like Cisco, also offer similar services.
- One Peak, a London-based VC, led the round
- Senovo, a German B2B SaaS VC, existing investor
- Presto Ventures, Czech seed-stage VC, existing investor
Where will the money go?
The startup wants to spend the fresh cash on product development, international growth and market education.
It also plans to hire more people.