Grafana Labs raises $220 million in Collection C funding spherical
Grafana Labs introduced a Collection C funding spherical of $220 million on Tuesday, bringing the corporate to a valuation of $three billion, ten occasions its valuation in 2019.
The funding spherical was led by Sequoia Capital, Coatue, Lightspeed Enterprise Companions, Lead Edge Capital and GIC. As a part of the most recent funding spherical Sequoia Capital companion Carl Eschenbach will be part of the corporate’s board alongside Coatue normal companion David Schneider. Eschenbach is a former president of VMware and Schneider beforehand served as president of ServiceNow.
Grafana Labs added a free tier in January and a month earlier grew to become the primary open supply supplier to enter a joint improvement and go to market take care of AWS.
Because of the most recent funding spherical, Grafana Labs mentioned it might be including 50GB of traces to the 50GB of logs, 10,000 collection of Prometheus metrics, and three Grafana dashboard customers that include the “free without end tier.” The on-premises Grafana Enterprise Stack in addition to the Grafana Cloud provide customers entry to plugins like Elasticsearch, Jira, Datadog, Splunk, Oracle, MongoDB, Snowflake and ServiceNow.
Raj Dutt, CEO at Grafana Labs, mentioned the corporate’s 12 months had been marked by a number of successes, together with widespread adoption of Grafana Cloud and the introduction of Tempo 1.zero for tracing. The corporate additionally bought k6 and Tempo.dev so as to add capabilities to their platforms.
“This new funding of capital, in addition to the addition of two extremely skilled expertise executives to our board, will focus us on accelerating product improvement to assist our neighborhood’s and prospects’ success,” Dutt added.
Eschenbach famous that in only some years, Grafana Labs has reworked itself from a single open supply challenge to at least one now used closely amongst hundreds of corporations like Bloomberg, JP Morgan Chase, eBay, PayPal, and Sony. He in contrast the corporate’s development to that of VMware and mentioned the corporate had expanded to virtually 500 staff throughout 40 totally different international locations.
“At ServiceNow, I used to be in a position to witness first-hand how troublesome it’s to construct an efficient observability system that may present groups with a single view throughout the group,” Schneider defined.
“We expect that Grafana Labs and their vendor-neutral ‘massive tent’ philosophy have made it simpler for organizations to maintain tabs on all of their methods from one single dashboard.”