NGINX, which offers a suite of technologies designed to develop and deliver modern applications, has raised $43 million in Series C funding led by Goldman Sachs Growth Equity.
With this latest round, NGINX will accelerate its mission to help enterprises on their journey to microservices – a modern approach to application development.
The Series C brings NGINX’s total funding to $103 million.
Digital transformation is fueling disruption across every major industry, as enterprises must leverage new technologies, adopt innovative business models, and deliver superior customer experiences in order to maintain competitive advantage.
According to Gartner Research, 47% of CEOs said they are being challenged by the board of directors to make progress in digital business.
By 2023, while 90% of current applications will still be in use, according to Gartner, most will have received insufficient modernization investment.
Stating that application modernization is imperative to achieving successful digital outcomes and drives increased enterprise adoption of microservices architecture to complement legacy applications and support evolving application demands, NGINX says it seeks to capitalize on this opportunity and help enterprises in their modernization journey – a market projected to reach $32.01 billion by 2023 and growing at more than 16% compound annual growth rate (CAGR).
New Funding Objectives
NGINX plans to enhance its Kubernetes Ingress controller, Istio service mesh, and API gateway solutions. NGINX will also introduce a commercial version of Unit, a dynamic web and application server, and Controller, a centralized monitoring and management tool.
In addition, NGINX will expand existing partnerships in the microservices ecosystem, including platform providers AWS, Docker, Google Cloud, IBM, Microsoft Azure, Red Hat and VMware and solution providers Datadog, New Relic, Okta, Ping Identity and Splunk.
NGINX will also introduce a new, global channel program and open additional offices to meet increasing demand, particularly in the APAC region.
For more about NGINX, go to www.nginx.com.
For more information about GS Growth, visit www.gs.com/gsgrowth.