A potentially big thing is growing on the Czech technological scene. Startup IP Fabric, which deals with network infrastructure monitoring, has just announced the conclusion of an investment round (Series A), in which it ran for 3.5 million euros, ie about 95 million crowns.
The main investors are the German venture capital fund Senovo, focusing on B2B software, and the Czech Presto Ventures.
“Last year was a turning point for us, we concluded our largest order so far – complete management of the Airbus network,” comments the success of the founder and CEO Pavel Bykov. These are the largest companies in the world that IP Fabric targets. This year, the startup also managed to acquire, for example, the manufacturer of ejection seats Martin Baker (from F-14 or F-35 fighters) or the American baseball league MLB.
“We were very impressed by the list of clients from Europe and America who have entrusted their key network infrastructure to IP Fabric,” says Markovo Grundmann, Senovo fund partner, about the investment. “It is necessary to gain their trust and go through all the security processes, which of course takes,” Bykov explains.
He founded IP Fabric five years ago, when he worked as a network architect and noticed that the available solutions could not reveal all the risks. “Every element, every router, every switch, every cable can be a risk,” Bykov calculates, adding that at that time he collected family savings, in the order of units of millions of crowns, and literally built the first data center in his own garage.
Two years after its establishment in IP Fabric, the leading Central European fund Credo Ventures (whose most described story so far can be found) has invested. in the current issue of Forbes) and Filip Doušek (founder of Stories, which sold Workday) or Martin Rehák (founder of Cognitive Securities, which bought Cisco) also joined. In other words, an explicitly “A” investor constellation, which does not meet every day on one project.
“I first met Pavel in his garage, where he and his co-founders developed his new product,” recalls Vladislav Jež, a partner of Credo Ventures. “He appealed to me primarily with the knowledge and experience he gained in managing the network infrastructure of global customers, but also by leaving a well-paid position in a large corporation and enthusiastically embarking on his own startup,” describes Jež’s reasons for deciding to bet on IP Fabric. At the time of Creda’s investment, the young company did not yet have customers.
Today, in addition to large clients and well-known investors, IP Fabric already has technology that can analyze tens of thousands of network elements within one network with the most important goal – to prevent outages.
“Network infrastructure is becoming more complex and its effective management is becoming more and more important for companies, which plays a key role in our business. And the pandemic has accelerated this trend even further, “says Bykov.