Elastic N.V.
FormerlyElasticsearch
TypePublic company (NV)
IndustrySoftware
Founded2012 (2012)
Founders
Headquarters
Key people
  • Ashutosh Kulkarni (CEO)
  • Shay Banon (CTO)
  • Janesh Moorjani (CFO)
ProductsSearch software
RevenueIncrease US$608 million (2021)[1]
Increase US$−129 million (2021)[1]
Increase US$−129 million (2021)[1]
Total assetsIncrease US$973 million (2021)[1]
Total equityIncrease US$451 million (2021)[1]
Number of employees
2,179 (April 2021)[1]
Websitewww.elastic.co

Elastic NV is an American-Dutch company that was founded in 2012 in Amsterdam, the Netherlands, and was previously known as Elasticsearch.[2] It is a search company that builds self-managed and software as a service (SaaS) offerings for search, logging, security, observability, and analytics use cases.[3]

The company develops the Elastic Stack—Elasticsearch, Kibana, Beats, and Logstash—previously known as the ELK Stack,[4] free and paid proprietary features (formerly called X-Pack), Elastic Cloud (a family of SaaS offerings including the Elasticsearch Service), and Elastic Cloud Enterprise (ECE).[5][6]

Elasticsearch technology is used by eBay, Wikipedia, Yelp, Uber, Lyft, Tinder, and Netflix.[7][8] Elasticsearch is also implemented in use cases such as application search, site search, enterprise search, logging, infrastructure monitoring, application performance management, security analytics (also used to augment security information and event management applications), and business analytics. The Elasticsearch meetup community totals more than 100,000 members.[9] Elastic is publicly traded on the New York Stock Exchange under the symbol ESTC.[10]

Citing headwinds from the global macroeconomic environment, Elastic NV announced a 13% reduction in headcount on November 30, 2022.[11][12]

Acquisitions

Elastic N.V.,has made several strategic acquisitions to expand its product offerings and capabilities.

  1. Prelert - In 2016, Elastic acquired Prelert, a machine learning company specializing in anomaly detection.[13][14]
  2. Swiftype - In 2017, Elastic acquired Swiftype, a provider of search and index software.[15]
  3. Endgame - In 2019, Elastic acquired Endgame, an endpoint security provider, for $234 million.[16]
  4. build.security - In 2021, Elastic acquired build.security, a cloud security company focusing on policy definition and enforcement.[17][18]
  5. Cmd - In 2021, Elastic acquired Cmd, a company that provides organizations with intuitive monitoring and control over their Linux environment.[19]
  6. Optimyze - The most recent acquisition was Optimyze on October 14, 2021 which is a cloud computing company based in Zurich.[20]

Funding Rounds

Elastic N.V., the company behind Elasticsearch, has been funded through various rounds of investment.

Leadership

Leadership

The leadership team at Elastic is composed of a diverse group of individuals with extensive experience in their respective fields. As of August 2023, here is a brief overview of the current team:[21]

  1. Ash Kulkarni, Chief Executive Officer: Ash is responsible for Elastic's product vision, strategy, and execution. He has a strong background in cybersecurity and has held leadership roles at McAfee and Symantec.
  2. Shay Banon, Founder and Chief Technical Officer: Shay is the creator of the open-source tool Elasticsearch, which later became the foundation of Elastic. He has a background in software development and has previously worked at various tech companies.
  3. Janesh Moorjani, Chief Financial Officer: Janesh oversees Elastic's financial operations and strategy. He has a rich history in the tech industry, having worked at companies like Workday, VMware, and Intel.
  4. Mathew Donoghue, Chief Marketing Officer: Mathew leads the global marketing team at Elastic, focusing on engaging customers, partners, and the community. He has experience in managing marketing strategy and execution across various tech companies.
  5. Rick Laner, Chief Customer Officer: Rick leads Elastic's customer success group, ensuring successful adoption of Elastic's solutions and a great experience for customers. He has held senior positions at MuleSoft and Splunk.

Board members

The leadership of Elastic is composed of a diverse group of individuals with extensive experience in technology, finance, and corporate governance. As of August 2023, here is the board consists of:[22]

  1. Chetan Puttagunta: Chetan joined Benchmark in 2018, after spending seven years as a general partner at NEA, where he focused on enterprise software. He currently serves as Elastic's Chairman of the Board and Lead Independent Director. His investments at NEA included MuleSoft, Elastic, MongoDB, Acquia, Reltio, Placester, Heap, Sentry, Swiftype, Forter, ScoutRFP, Canopy, and Folloze.
  2. Ash Kulkarni: Ash is the CEO of Elastic. His priority is to drive innovation, and he works with the team at Elastic to create products and solutions that use the power of search to help its customers and community turn possibilities into results. Ash joined Elastic as chief product officer in 2021 and prior to that held senior product leadership and management roles at McAfee, Akamai, Informatica, and Sun Microsystems.
  3. Shay Banon: Shay is a founder of Elastic and serves as the CTO. He has been fascinated with search ever since he tried to build a recipe app for his wife in 2004, a journey that led to him writing the first few lines of code of Elasticsearch in 2009 and later founding Elastic in 2012.
  4. Steven Schuurman: Steven was one of the four co-founders of Elastic, serving as Chief Executive Officer for the first five years of the company. Prior, Steven was Chief Executive Officer of Orange11, which was acquired by Trifork A/S. In addition, he co-founded the internationally renowned open source software vendor SpringSource.
  5. Jonathan Chadwick: Jonathan serves on Elastic's Board of Directors as the Audit Committee Chair and brings a wide range of public company and finance experience to Elastic. Most recently, Jonathan served as the Executive Vice President, Chief Financial Officer, and Chief Operating Officer at VMware.
  6. Alison Gleeson: Alison was Senior Vice President of Cisco's Americas organization, responsible for more than $25 billion in annual sales and leading nearly 9,000 employees across 35 countries. She currently serves on the board of 8X8 and Zoominfo.
  7. Shelley Leibowitz: Shelley is a prominent technology advisor, director, and thought leader. She has spent her career at the intersection of financial services and technology, with both private sector and public sector experience. After more than two decades of Chief Information Officer roles at top tier financial services companies, she served as Group-wide Chief Information Officer for the World Bank.
  8. Caryn Marooney: Caryn led global communications for Facebook and its family of apps including Instagram, Messenger, WhatsApp, and Oculus. Prior to joining Facebook, Caryn co-founded OutCast Communications, one of Silicon Valley's premier technology communications firms.
  9. Sohaib Abbasi: Sohaib previously served as the CEO and President of Informatica Corporation, where he led the company to five-fold growth and established leadership in multiple software categories, including data integration, data quality, master data management, and cloud data integration.
  10. Paul Auvil: Paul brings more than 35 years of finance, technology and corporate leadership experience to the Elastic Board of Directors. He served as the Chief Financial Officer of Proofpoint, Inc., a provider of security-as-a-service solutions from March 2007 until March 2023.

References

  1. 1 2 3 4 5 6 "Elastic N.V. 2021 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 25 June 2021.
  2. ↑ Kepes, Ben. "Elasticsearch Changes Its Name, Enjoys An Amazing Open Source Ride And Hopes To Avoid Mistakes". Forbes. Retrieved 2019-04-10.
  3. ↑ DeFrancesco, Robert (2019-09-29). "Elastic's Core Search Technology Powers Multiple Growth Levers". Forbes. Archived from the original on 2019-09-30. Retrieved 2019-09-29.
  4. ↑ Gupta, Yuvraj (2017). Mastering Elastic Stack. Birmingham, UK: Packt Publishing. pp. 11–13. ISBN 978-1-78646-001-1.
  5. ↑ "Elastic Cloud: Hosted Elasticsearch, Hosted Search | Elastic". www.elastic.co. Retrieved 2019-04-10.
  6. ↑ Shukla, Pranav (2017). Learning Elastic Stack 6.0: A beginner's guide to distributed search. Birmingham, UK: PACKT. p. 315. ISBN 978-1-78728-186-8.
  7. ↑ Ward, Mark (2019-07-12). "Why search is no longer all about Google". www.bbc.com. Archived from the original on 2019-07-12. Retrieved 2019-10-01.
  8. ↑ "Elastic enters APM space with Opbeat acquisition". TechCrunch. Retrieved 2019-10-09.
  9. ↑ "Elasticsearch groups". Meetup. Retrieved 2019-04-10.
  10. ↑ Colville, Jordan Novet, Waverly (2018-10-05). "Elastic ESTC IPO stock makes debut on NYSE". www.cnbc.com. Retrieved 2019-04-10.{{cite web}}: CS1 maint: multiple names: authors list (link)
  11. ↑ "CEO Ash Kulkarni's email to Elastic employees". Elastic Blog. Retrieved 2022-12-02.
  12. ↑ DeFrancesco, Robert. "Elastic Is Carving Out A Niche In Generative AI With Vector Search". Forbes. Retrieved 2023-12-20.
  13. ↑ Kepes, Ben (2016-09-15). "In an attempt to disrupt Splunk, Elastic makes another acquisition". Network World. Retrieved 2023-08-04.
  14. ↑ Yegulalp, Serdar (2017-05-05). "Elasticsearch stack wises up with machine learning". InfoWorld. Retrieved 2023-08-04.
  15. ↑ Ha, Anthony (2017-11-09). "Elastic acquires search startup Swiftype". TechCrunch. Retrieved 2023-08-04.
  16. ↑ "Elastic buys endpoint security firm Endgame for $234 million". ZDNET. Retrieved 2023-08-04.
  17. ↑ Kerner, Sean Michael (2021-08-23). "Elastic acquires build.security for security policy definition and enforcement". TechCrunch. Retrieved 2023-08-04.
  18. ↑ Ben-David, Ricky. "Open code software giant Elastic to buy Israeli startup, open Tel Aviv R&D site". www.timesofisrael.com. Retrieved 2023-08-04.
  19. ↑ Kobialka, Dan (2021-09-01). "Elastic Acquires Cmd; XDR Platform Gains Cloud Workload Runtime Security". MSSP Alert. Retrieved 2023-08-04.
  20. ↑ "Elastic to buy 'continuous profiling' startup Optimyze". ZDNET. Retrieved 2023-08-04.
  21. ↑ "Leadership Team | Elastic". www.elastic.co. Retrieved 2023-08-04.
  22. ↑ "Elastic Board of Directors". www.elastic.co. Retrieved 2023-08-04.


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