Application delivery platform Instart Logic today announced that it has raised a $45 million Series D round. The round was led by a new investor, the late-stage fund Geodesic Capital. Other participants in this round include existing investors Hermes Growth Partners, Andreessen Horowitz, Four Rivers Group, Kleiner Perkins Caufield & Byers, and Tenaya Capital. Telstra Ventures, the venture arm of the Australian telecom firm, also today announced a strategic investment in the company.
Instart Logic helps businesses speed up the delivery of their cloud-based applications through a wide variety of tools, including CDNs, caching implementations and image transcoding services. The company also offers a number of security tools. Instart Logic’s current customer list includes the likes of Atlantic Media, Evite, Shutterstock and the Washington Post.
As Instart Logic CEO and founder Manav Mital told me, the company wasn’t proactively looking to raise more money. “We were approached by several late-stage venture firms who were interested in us. Our existing investors were feeling extremely bullish about the company and we ended up raising an oversubscribed round with absolutely minimal effort,” he told me. “This allowed us to continue to devote more time on building our business, servicing our customers and innovating without being distracted.”
The company says it will use the new funds to expand its product capabilities and sales teams in the U.S. and globally. It’s no surprise then that Instart Logic plans to invest heavily in the European and Middle Eastern markets this year. “There’s a large untapped opportunity there and it’s extremely mobile-centric which play to our strengths,” Mital said.
Given Telstra’s and Geodesic’s involvement in this round, it’s also no surprise that the company sees the Asia-Pacific region as a potentially large market for its services, too.