NS1, a company delivering a software-defined, next-generation application networking stack which modernizes DNS, DHCP, and IPAM, has closed the third quarter of 2020 with 42% year-over-year growth in revenue. NS1 stated it has added more than 50 enterprise customers in Q3 while maintaining a customer retention rate of 96%.
A recent NS1-sponsored study conducted by IDG examined enterprise network and application modernization efforts and revealed that 80% of organizations are struggling to reach application delivery requirements with their existing infrastructure.
Amid pandemic concerns, efforts to modernize networks and applications to address this challenge are accelerating, stated IDG, with 83% reporting budget increases for these initiatives over the next three years. This would be driving a surge in the adoption of NS1’s software-defined modern application and access networking solutions. Nearly half of IDG’s survey respondents plan to adopt DDI in the next year in order to connect cloud and on-premise applications and data, accelerate service discovery in microservices environments, and achieve greater cost control and automation.
“The global pandemic has created new urgency around modernization and a renewed search for tools that can help improve mobility, remote data access, and automation,” said Kris Beevers, co-founder and CEO of NS1. “All these systems and capabilities depend on IT infrastructure t
o be flexible, elastic, available, reliable, and secure – in a word, resilient. And NS1’s software-defined solutions are critical to achieving resilience in our modern, connected world.”
Enterprise DDI, Managed DNS
NS1’s momentum would continue to build in EMEA, which experienced a 39% growth in bookings over the previous quarter. The race to modernization to support remote work, telehealth, and other connected services is driving increased traction in both healthcare and financial services, stated NS1. New NS1 customer wins include Dynatrace, Valley Children’s Healthcare, Premier Home Health Care, Paymentus Corporation, and Forcepoint.
Additionally, NS1 says it continues to expand its channel presence and deepen its strategic partnerships. Both Enterprise DDI and Managed DNS are now available on Cisco’s Global Price List. In addition, Cisco partners can now demo NS1 solutions and how they integrate with Cisco Umbrella on a hosted environment in Cisco dCloud.
Following NS1’s recent $40 million Series D venture round, led by Energy Impact Partners with participation from existing investors, NS1 says it is moving forward on its commitment to aggressive investment in engineering and product innovation. In less than two months, NS1 has expanded its engineering team by more than 15%. The company would remain on track to double within the next year.