21 Oct NS1’s Momentum Continues Through Q3 with Revenue Growth and New Customer Wins
Post-COVID race to modernization drives surge in adoption of modern application and access networking solutions that power the connected economy
NEW YORK–(BUSINESS WIRE)–#NetOps–NS1, the leader in modern application and access networking, today announced it closed the third quarter of 2020 with 42% year-over-year growth in revenue. Adding more than 50 enterprise customers in Q3 while maintaining a customer retention rate of 96%, NS1 remains the leading independent provider of modern foundational infrastructure solutions that power the connected economy.
Recent events have highlighted the importance of high-performing resilient applications and the critical infrastructure technology that supports them. A recent NS1-sponsored study conducted by IDG examined enterprise network and application modernization efforts and revealed that 80% of organizations are struggling to reach application delivery requirements with their existing infrastructure.
But, amid pandemic concerns, efforts to modernize networks and applications to address this challenge are accelerating, with 83% reporting budget increases for these initiatives over the next three years. This is driving a surge in the adoption of NS1’s software-defined modern application and access networking solutions. Nearly half of survey respondents plan to adopt DDI in the next year in order to connect cloud and on-premise applications and data, accelerate service discovery in microservices environments, and achieve greater cost control and automation.
“The global pandemic has created new urgency around modernization and a renewed search for tools that can help improve mobility, remote data access, and automation,” said Kris Beevers, co-founder and CEO, NS1. “All these systems and capabilities depend on IT infrastructure to be flexible, elastic, available, reliable, and secure—in a word, resilient. And NS1’s software-defined solutions are critical to achieving resilience in our modern, connected world.”
Customer and Channel Growth
NS1’s momentum continues to build in EMEA, which experienced a 39% growth in bookings over the previous quarter. The race to modernization to support remote work, telehealth, and other connected services is driving increased traction in both healthcare and financial services. New customer wins include Dynatrace, Valley Children’s Healthcare, Premier Home Health Care, Paymentus Corporation, and Forcepoint. Additionally, NS1 continues to expand its channel presence and deepen its strategic partnerships. Both Enterprise DDI and Managed DNS are now available on Cisco’s Global Price List. In addition, Cisco partners can now demo NS1 solutions and how they integrate with Cisco Umbrella on a hosted environment in Cisco dCloud.
After NS1’s first interactive digital forum, INS1GHTS, was met with enthusiastic support, the company expanded the program to provide quarterly workshops offering practical recommendations and professional credit opportunities. The first quarterly half-day training in September focused on containers and microservices. You can watch the on-demand recording here. Registration for the Dec. 2-3 session, which will focus on Network Resilience: Mission Critical, will open in November.
Commitment to Engineering and Product Innovation
Following the company’s recent $40 million Series D venture round, led by Energy Impact Partners with participation from existing investors, NS1 is moving forward on its commitment to aggressive investment in engineering and product innovation. In less than two months, NS1 has expanded its engineering team by more than 15% and remains on track to double within the next year.
NS1 automates the deployment and delivery of the world’s most trafficked internet and enterprise applications. Its software-defined, next-generation application networking stack modernizes DNS, DHCP, and IPAM — the familiar and universal foundations of all network and internet services — to unlock unprecedented automation, visibility, and control in today’s complex, heterogeneous environments. NS1 has more than 650 enterprise customers worldwide, including LinkedIn, Dropbox, Pitney Bowes, Bleacher Report, and The Guardian, and is backed by investments from Energy Impact Partners, Dell Technologies Capital, Cisco Investments, and GGV Capital.
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