Total amount raised
$50 Millions
Latest funding date
12/1/2022
Location
ngrok has successfully raised significant funding through multiple rounds, attracting notable investors such as Lightspeed Venture Partners and Coatue. The platform offers a range of services including secure tunnels, API gateways, and Kubernetes networking solutions.
Keep reading to explore the intricacies of ngrok's fundraising journey and the investors backing this innovative platform.
What Is ngrok?
Founded in 2015, ngrok is an API-first ingress-as-a-service platform based in San Francisco, California. The company was established by Alan Shreve.
Ngrok helps developers build their apps faster and more securely with no code changes. It offers a range of products including Secure Tunnels, API Gateway, Load Balancer, Kubernetes Ingress Controller, Global Network, and Observability.
With a team of 51-100 employees, ngrok is widely recommended in the documentation of top technology brands like Microsoft, GitHub, Okta, Shopify, Zoom, and Twilio.
How Much Funding Has ngrok Raised?
- Series A
- Amount Raised: $50M
- Date: December 2022
- Lead Investors: Lightspeed Venture Partners, Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow operations and improve ngrok's core product offering.
Total Amount Raised: $50M. Current Valuation: Not publicly disclosed.
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a global venture capital firm that focuses on early-stage investments. They have a strong track record of backing innovative technology companies.
- Investment Focus Areas: Enterprise technology, consumer technology, health technology.
- Notable Investments: Snap, Nest, AppDynamics.
- Coatue
- Details: Coatue is a global investment firm that invests in public and private markets. They are known for their focus on technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: ByteDance (TikTok), DoorDash, Instacart.
What's Next for ngrok?
Ngrok stands at the cusp of significant growth opportunities, driven by the increasing complexity of application delivery and the demand for simplified networking solutions. With over 5 million developers and 30,000 paying customers, the platform is well-positioned to expand its user base and enhance its product offerings. The recent $50 million Series A funding will enable ngrok to scale its operations, hire across all business units, and innovate further.
Future fundraising rounds seem likely as ngrok continues to grow and attract more enterprise clients. However, the company faces challenges such as competition from other networking solutions and the need to maintain service quality while scaling. Continuous innovation and strategic acquisitions could be key to staying ahead in this rapidly evolving market.
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