Nginx lands $43 million Series C to fuel expansion
Nginx, the commercial company behind the open source web server, announced a $43 million Series C investment today led by Goldman Sachs Growth Equity.
NEA, which has been on board as an early investor is also participating. As part of the deal, David Campbell, managing director at Goldman Sachs’ Merchant Banking Division will join the Nginx board. Today’s investment brings the total raised to $103 million, according to the company.
The company was not willing to discuss valuation for this round.
Nginx’s open source approach is already well established running 400 million websites including some of the biggest in the world. Meanwhile, the commercial side of the business has 1,500 paying customers, giving those customers not just support, but additional functionality such as load balancing, an API gateway and analytics.
Nginx CEO Gus Robertson was pleased to get the backing of such prestigious investors. “NEA is one of the largest venture capitalists in Silicon Valley and Goldman Sachs is one of the largest investment banks in the world. And so to have both of those parceled together to lead this round is a great testament to the company and the technology and the team,” he said.
The company already has plans to expand its core commercial product, Nginx Plus in the coming weeks. “We need to continue to innovate and build products that help our customers alleviate the complexity of delivery of distributed or micro service based applications. So you’ll see us release a new product in the coming weeks called Controller. Controller is the control plane on top of Nginx Plus,” Robertson explained. (Controller was launched in Beta last fall.)
But with $43 million in the bank, they want to look to build out Nginx Plus even more in the next 12-18 months. They will also be opening new offices globally to add to its international presence, while expanding its partners ecosystem. All of this means an ambitious goal to increase the current staff of 220 to 300 by the end of the year.
The open source product was originally created by Igor Sysoev back in 2002. He introduced the commercial company on top of the open source project in 2011. Robertson came on board as CEO a year later. The company has been growing 100 percent year over year since 2013 and expects to continue that trajectory through 2019.