ExtraHop raises $41M to help businesses make sense of their wire data

ExtraHop, a company that provides wire data analytics for IT operations, announced today that it has raised $41 million in a third round of funding led by Technology Crossover Ventures.

The term “wire data” doesn’t mean much to most of us. But for those working in IT operations, it’s essential. Wire data refers to all of the information passing between networked components. Understanding what that data means helps IT folks quickly isolate problems on their network.

ExtraHop says it will use the new funding to continue building its wire data analytics solution as well as expand into new markets. The company claims it grew its revenue by 150 percent last year, and its customers include Morgan Stanley, Lockheed Martin, and Purdue Pharma.

Seattle, Washington-based ExtraHop has now raised a total of $61.6 million. Its other investors include Meritech Capital Partners, Madrona Venture Group, Sujal Patel, and others.