When Tech was responsible for the servers at its locations, understanding what it owned and where it was wasn't a big deal. For most, these were physical machines in a closet or server room, but as infrastructure became virtualized and moved to the cloud, determining the lay of the land of your infrastructure became more difficult.
Faddom, an early-stage Israeli startup, helps companies map their infrastructure wherever it is located and helps them visualize connections and dependencies, targeting mid-sized businesses. The company announced the raising of a Series A of 12 million dollars.
“Faddom is about creating a simple, easy-to-use unified map of all your dependencies and your environment,” said Lanir Shacham, co-founder and CEO of Faddom. "By dependencies, I mean every IP that moves on your network, and every socket that opens on your network and the direction of the connectivity, which is the most key thing," he said.
The end result is a two-way graph of the environment, including physical servers, virtualized servers, and cloud infrastructure, which can be grouped together, typically by business application, so IT knows exactly what they have in terms of infrastructure and how they work together. Once the map is implemented, companies can use the information for a variety of tasks, such as infrastructure change management and migrations, cybersecurity and compliance.
It defines its target market as companies with between a few hundred and a few thousand employees managing perhaps 100 servers or more with revenues between $100 million and a few billion. “Normally your IT won't be that big. Generally their budgets will be very low and there is usually no innovation adapted to that type of segment,” he stated.
What's more, they say they keep the price low at $15.000 to $20.000 a year on average, a price the startup believes gives target companies of this size access to sophisticated technology that is typically out of reach. But it's important to note that pricing is based on the size of the map, so the more complex the environment, the more customers are likely to pay.
Shacham admits that getting the investors Getting interested in a product aimed at this market was a challenge, but so far their growth suggests they are starting to gain ground. After launching in 2021, Faddom has 100 customers so far, 300% annual revenue growth, and reports $1 million in annual recurring revenue (ARR) as of this writing.
The company closed the $12 million Series A in September and has already grown from 23 to 30 employees with 7 recent new hires. The tentative plan is to reach 50 this year, but Shacham says it will depend on how quickly the business continues to grow.
Funding came from Viola Ventures, NFX, and a group of unnamed industry angel investors.
