Greater Momentum from Bigger Mass and Higher Velocity
I was honestly quite surprised when I reflected on our incredible momentum since I last gave an update on Instart Logic’s progress in mid-March this year. We are quickly growing in size and rapidly adding customers, while staying true to our core ethos of hiring A+ players and providing amazing customer service — beyond even what I and my co-founders thought was possible two and half years ago when we raised our series A round of funding.
Our service has seen most traction with great brand-name customers like Nasty Gal, Commune Hotels, Stella & Dot and Rent.com. We are now also seeing strong traction in the Fortune 500 companies who are making the shift to responsive design and focusing on improving the experience for their users on wireless devices. These are all performance-obsessed companies that got on the Akamai platform a decade ago when CDN technology was still a novelty, and have since been starving for something current and innovative. While the percentage of their users accessing their sites and apps on wireless devices increases exponentially, they all see Akamai publicly struggle with understanding the inherent difference between a wired and wireless last mile. This gap between their need and the incumbent’s incapability has been a big driver for our success.
In the last five months we have also made some great additions to our team. We announced David Hsieh as our VP of Marketing in April, but have also added to the team many stellar developers, great researchers, amazing salespeople and fantastic support and operations engineers. With over a third of our engineering team comprising PhDs, we continue to push the envelope on innovation and have released several industry-first features, like SmartVision and InstantLoad. And we are only getting started. I really look forward to sharing with you, in just a few months, something new and really cool that we will be releasing.
Customer success is the cornerstone of our operating philosophy, and we take great pride in our negative churn rates. As Instart Logic scales, this is the one key area where we will continue paying a lot of attention to make sure that we maintain our emphasis on customer satisfaction. We place customer satisfaction ahead of all company metrics, financial and otherwise, and endeavor to ensure that all and any interactions that a customer has with Instart Logic are nothing less than A+.
Finally, we have been lucky to receive overwhelming support for our vision from the investor and analyst community. In the last three months we received $26M in funding from an elite group of investors, we were awarded with the 2014 Gartner Cool Vendor award, we were named a Global 250 Top Private Company by AlwaysOn, and we were included in Internet Retailer Magazine’s list of Vendors to the Top 500 E-Retailers 2014.
I am really excited about our path ahead, and wish to thank everyone without whose support this wouldn’t be possible — including all our customers, employees, advisers, investors, partners, and especially Akamai!