NEW YORK--(BUSINESS WIRE)--Catchpoint, the leader in Internet Performance Monitoring (IPM), today reports strong performance in its Q1 FY25, ending March 31, 2024. Catchpoint achieved notable milestones in revenue acceleration, product innovation, and industry recognition, as well as promoting and extending its product and sales organization to further stimulate growth.
Catchpoint reported significant growth year over year with notable new client acquisitions and further engagement within existing accounts.
- 14 customers have over $1M ARR
- 33% of customers have ARR over $100k
- 36% of customer base have an average ARR of $478k
- 24% of Catchpoint customers leverage two or more products
- 90%+ Gross Retention Rate
- 6 competitive take-out wins
Significant new customers this quarter represent multiple industries, including hosting, software, financial services, cloud infrastructure, and hospitality.
“I’m delighted to see such strong growth here at Catchpoint, but with the team that we have, it’s no surprise,” said Mehdi Daoudi, Chief Executive Officer, Catchpoint. “The elite global sales team we’ve put together is extraordinary in educating our customers on how to improve Internet Resilience with our industry-leading IPM platform. It’s incredibly satisfying to see customers appreciate the value of our entire platform. The detailed level of visibility we offer into the depth and breadth of the Internet is outstanding, and the accelerated growth we’re seeing reflects that. I look forward to leading us onwards to continue to build on this momentum.”
Among the organizations that rely on Catchpoint for Internet Performance Monitoring are 9 of the top 10 Forbes Digital Companies, 7 of the top 10 publicly traded software companies in the world, 9 of the top 10 CDN providers, and the top 6 cloud hyperscalers.
Organizational Leadership Updates
The company is further augmenting the global sales organization. Keith Hoskison, Chief Revenue Officer, is delighted to bring on board James Wilson as VP, New Acquisition Sales for North America. Wilson brings with him 35 years of experience in both large corporations and small startups. His elite success in sales spans marquee companies such as MTI, Cisco, Oracle, and HPE.
The company has also recently promoted Matt Izzo to the position of Chief Product Officer. Across his nine-year tenure, his leadership has been instrumental in the transition to Catchpoint’s new UI framework and in the development of groundbreaking solutions like Internet Sonar and Internet Stack Map. His visionary approach has consistently driven Catchpoint forward, reinforcing our commitment to continuous excellence.
Industry Recognition
Catchpoint was recognized as a winner in the Stevie American Business Awards in two separate categories:
- The Network Experience solution is a Silver Stevie Winner in the Cloud Application/Service category. The judges noted, “Catchpoint's Network Experience stands out for its comprehensive features, real-world examples, and industry-leading endorsements. Its novel approach to network monitoring and integration with cloud services exhibits outstanding value and technical expertise.”
- The Workforce Experience solution is a Bronze Stevie Winner in the Digital Employee Experience category. The judges commented, “Catchpoint’s Workforce Experience solution represents a significant advancement in optimizing the digital employee experience, providing a comprehensive suite of features tailored to meet the evolving needs of today’s workforce.”
Catchpoint was also recognized with multiple TrustRadius Top Rated 2024 Awards. Catchpoint won in four categories: Digital Experience Monitoring (DEM), Application Performance Management (APM), VoIP Monitoring, and Network Monitoring. Catchpoint’s recognition by TrustRadius demonstrates that the company enjoys the genuine satisfaction and appreciation of its users and IT leaders in the field.
Analyst Recognition of the Importance of IPM
Significantly, over the past year, analyst firms GigaOm and Forrester have written about the business value and importance of Internet Performance Monitoring to augment the capabilities of traditional APM tools.
In April, Enterprise Management Associates (EMA) published a report reinforcing the value of IPM tools and encouraging operations teams to fill the visibility gap that exists in most teams. The report [available here] states, “IPM tools have become just as important as APM, if not more so."
EMA Vice President of Research Shamus McGillicuddy stated, “Internet Performance Monitoring solutions close the modern observability gap by providing visibility into global Internet performance and reporting on how that performance impacts application performance and end-user experience.”
Market-Leading Innovation
Internet Stack Map – With Catchpoint’s first-of-its-kind Internet Stack Map, organizations can map the entire Internet Stack from the outside-in, so their IT teams can track every step of each user’s journey across the digital service delivery chain. Internet Stack Map provides real-time visibility to access and monitor the health of digital services. This advancement marks a significant shift in how organizations can ensure the reliability and performance of their most critical services. Indeed, there has not been a system to display live health and performance data from the end user perspective that covers everything impacting their experience – from the user’s device, across the Internet, third-party dependencies, internal and external networks, down to the code – until now.
Internet Sonar – Catchpoint Internet Sonar answers the question, "Is it me or something else?", and powers the data for Internet Stack Map. This groundbreaking addition to the Catchpoint IPM Platform collates data from the world’s largest independent active observability network. It also includes a real-time status page and global ISP telemetry to provide simple, intelligent, trustworthy Internet health information at-a-glance. These enhancements allow proactive management of productivity or experience-impacting third-party incidents.
Catchpoint Tracing – Catchpoint joins OpenTelemetry (OTel) on its mission to enable effective tracing and observability to power business outcomes and close the IT to business communications gap. Catchpoint Tracing solves the problems caused by complex, large, distributed environments – used for modern application delivery – that impact your customer’s digital experience and subsequently may threaten business revenue. Tracing helps operations teams achieve Internet Resilience by extending IPM’s capabilities to the application stack – down to individual lines of code. Unlike APM, which monitors from the inside out, IPM is effective in ensuring great experiences because it provides an experience-first, holistic view. With Catchpoint Tracing, businesses can give customers the fast, resilient experiences they love and expect.
WebPageTest and Records Waterfall Compare – WebPageTest is already the gold standard for web performance optimization and monitoring. By bringing WebPageTest capabilities directly into the Catchpoint portal, businesses gain increased operational efficiency to supercharge their web performance optimization, web performance monitoring, and SEO ranking and optimization programs with expanded platform capabilities.
Playwright GA and Test Suites – Catchpoint expands DevOps monitoring and CI/CD resilience capabilities with new offerings such as Playwright, Puppeteer, and Test Suites. These augment existing offerings such as Selenium and JavaScript. With these new offerings, DevOps philosophers and practitioners can achieve both agility and stability with IPM as code, CI/CD toolchain and pipeline visibility, resilient connectivity for anytime, anywhere developer experiences, and standardized measurements across all stages of the DevOps lifecycle. These new capabilities ensure different teams are not responding differently to mixed signals – or worse, large amounts of noise – improving time to market and customer feedback loops.
Extending the Industry’s Largest Observability Network
Catchpoint has the world’s largest and most diverse active monitoring network inside the Internet. The company is continually expanding its global presence across backbone, last mile, wireless, enterprise endpoints, and cloud. New customers regularly cite the unusual level of regional breadth (and depth of insight into the Internet Stack) of coverage as a key reason for choosing Catchpoint.
Across the last fiscal year, the following vantage points were added: 132 new nodes in total with 68 backbone locations, 4 last mile, 7 wireless, and 53 cloud nodes. From Lisbon, Portugal, to Chennai, India, to new ISPs in Miami and Chicago. Regions of expansion extend across the US, Canada, South America, Europe, the Middle East, Africa, and Asia Pacific.
Additionally, new vantage points were added to Catchpoint's independent BGP infrastructure to bolster the most complete BGP monitoring solution in the industry. Across the last fiscal year, Catchpoint introduced 86 BGP peers from 27 unique ASNs across 33 cities (26 of which were new) and 26 unique countries (14 of which were new).
The latest updates further augment Catchpoint's industry-leading global observability network, which provides unparalleled depth and breadth of visibility.
Looking Ahead
Catchpoint anticipates a strong next quarter, further validating the category of IPM, Internet Performance Monitoring. The company looks forward to continuing accelerated growth across the rest of the calendar year.
About Catchpoint - Trusted by the world’s leading brands who understand in the digital age performance is paramount, Catchpoint is dedicated to monitoring what matters from where it matters to catch issues across the Internet Stack before they impact business.
The Catchpoint Platform offers a comprehensive suite of Internet Performance Monitoring capabilities, including synthetics, RUM, tracing, performance optimization, and advanced analytics, all supported by high-fidelity data and flexible visualizations. Leveraging thousands of global vantage points inside the critical systems that make the Internet work, Catchpoint provides unparalleled visibility into what affects customer experiences, workforce efficiency, network performance, websites, applications, and APIs.
When the digital world needs resilience and exceptional performance, they turn to our platform and our expertise. The Internet Relies on Catchpoint.
For more information about Catchpoint, visit the website at https://www.catchpoint.com/. Join our live product launch webinar on tomorrow at 2 pm ET to get the latest, register now at: https://www.catchpoint.com/webinar/spring-2024-product-launch
