When IT departments were responsible for on-site servers, knowing what you owned and where it was located wasn't a big problem. In most cases, it was a physical machine in a closet or server room, but as infrastructure has become virtualized and moved to the cloud, it has become more difficult to understand the layout of the infrastructure.
Faddom is an early-stage Israeli startup targeting mid-sized businesses that helps companies map their infrastructure and visualize connections and dependencies wherever it resides. Today, the company announced a $12 million Series A.
“Faddom is all about creating a simple, easy-to-use unified map of all your dependencies and environments,” Faddom co-founder and CEO Lanir Shacham told TechCrunch. “Dependency means all IPs.” [address] “The movement within the network, every socket that is opened within the network, and the direction of the connection, that's the most important thing,” he said.
The end result is a bidirectional graph of the environment that includes physical servers, virtualized servers, and cloud infrastructure, typically grouped by business applications, to give IT departments an understanding of what the infrastructure is from an infrastructure perspective. and how they work together. . Once a map is created, companies can use the information for a variety of tasks, including infrastructure change management and migration, cybersecurity, and compliance.
The company defines its target market as companies with hundreds to thousands of employees, perhaps managing 100 or more servers, and revenues ranging from $100 million to several billion dollars. “Typically their IT isn't that big. Usually their budgets are very low and they usually don't have innovation tailored to that type of segment,” he said.
Additionally, they claim to keep their prices down to an average of about $15,000 to $20,000 per year, a price point that gives target companies of this size access to advanced technology that is typically out of reach. Startups believe. However, it is important to note that pricing is based on the size of the map, so the more complex the environment, the more the customer may pay.
Shacham admits it has been difficult to attract investors for products targeted at this market, but so far suggests the company's growth is starting to gain momentum. Since launching in 2021, Faddom has grown his 100 customers to date by 300% in annual revenue, with reported annual recurring revenue (ARR) of $1 million to date.
The company closed a $12 million A round in September, and its headcount has already grown from 23 to 30, with seven new hires recently. Preliminary plans are to reach 50 companies by the end of this year, but that will depend on how quickly business continues to grow, Shacham said.
The funding was provided by Viola Ventures, NFX, and a group of anonymous industry angels.