ThousandEyes, a San Francisco, California-based information and technology performance management provider, announced on Wednesday that it has successfully acquired $5.5 million in Series A funding. The round was led by Sequoia Capital. The funds are to be used for the company's growth and expansion, said the company.

Mohit Lad, co-founder and Chief Executive Officer of ThousandEyes, said: "Enterprises adopting cloud applications are now reliant on networks outside their environment which they have no visibility into, making it extremely hard for IT teams to understand what is causing service degradations."

ThousandEyes has developed "unique technology that addresses gaps with legacy tools and are excited to officially launch today and enter into the next phase of our company's growth."

The company recently released its newest product which provides detailed visibility into the machinery and processes of cloud applications, helping IT units of different businesses resolve problems with more efficiency.

ThousandEyes provides services to many Fortune 500 companies including Twitter, Zendesk, Zynga, Priceline, and Evernote.