- The US and Prague-based startup IP Fabric announces raising €23.1M ($25M) Series B funding to accelerate the automation of complex enterprise network infrastructure discovery, modeling, and visualization.
- The investment was led by UK-based One Peak with the participation of German Senovo and Czech Presto Ventures.
- The new funding will allow IP Fabric to continue scaling and market its private network mapping solution, making network assurance ubiquitous so that people, businesses, and governments can operate without the exponential risk of network failures or outages.
“We were architects responsible for building and operating global infrastructure for Fortune 500 companies. Every time we went to work for a new client, we had to build our own set of tools to get the baseline to answer fundamental questions about the infrastructure. If we didn’t invest time in building the tooling, we saw an increased rate of issues and failures stemming from unexpected findings and unknowns. We knew we needed to solve this problem ourselves” Pavel Bykov, the co-founder and CEO of IP Fabric, tells The Recursive.
Pavel Bykov continues, “IP Fabric provides the network assurance needed to overcome complexity, implement automation and improve network security. Without this network assurance, organizations will see an exponential increase in network outages and security incidents.”
Network assurance is crucial for managing private network infrastructure, which, combined globally, forms the backbone of the modern economy. This infrastructure is now the foundation for everyday life, from airports and factories to public utilities and financial systems.
Nevertheless, the rising complexity and need for automation of networks represent a management challenge, exposing the networks to risks such as unpredictability or identification and elimination of vulnerabilities.
IP Fabric on the mission to empower enterprise network assurance
“Without network assurance, we are leaving network resilience to chance. We’ve seen how network outages can cause businesses and critical infrastructure to grind to a halt. Still, amidst rising complexity and the need to ensure control in the face of rising cyber threats while adhering to regulatory compliance, enterprises lack the means to ensure operations for their entire network end-to-end,” says Pavel Bykov.
Established in 2015, IP Fabric develops a network assurance solution helping organizations overcome network complexity, assure network automation, and improve network security. With its API-first platform, IP Fabric can discover, model, and visualize complex networks down to the wire, giving end-to-end visibility and control over an organization’s entire network infrastructure. The solution leads to reduced costs and resources while improving security and efficiency.
Prior to the Series B funding, IP Fabric secured a Series A funding of €3.5M in 2020 led by current investors Senovo and Presto Ventures, together with the participation of Credo Ventures.
“Gartner has reported that only 26% of network leaders maintain accurate network data, massively hindering the effectiveness of automation initiatives for 74% of enterprises. Automation must be assured, secure, and able to operate effectively in complex network environments. This is why IP Fabric’s unique ability to help enterprises understand, automate, and secure complex networks is critical to enable the future of network automation,” comments Humbert de Liedekerke, co-founder and Managing Partner of One Peak.
The startup was recognized in the Deloitte Technology Fast 50 Central Europe 2022 ranking with a CAGR of 160% over the past four years. Today, IP Fabric works with over a hundred customers globally, including Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, and Avast. The team is headquartered in New York with offices in Prague and London.
