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The company that created the most widely used open and comprehensible operational dashboards in the world has announced a $220 million Series C investment round. Sequoia Capital and Coatue, two new investors, are co-leading the round, and existing investors Lightspeed Venture Partners, Lead Edge Capital, and GIC are also participating. Grafana Labs is now worth $3 billion thanks to the new investment, which is more than 10 times the value of the Series A round from just two years ago (for cryptocurrency enthusiasts, that’s more than 60,500 BTC as of August 23 at 22:00 UTC). Carl Eschenbach, a partner at Sequoia and a former president and chief operating officer of VMware, and David Schneider, a general partner at Coatue and a former president of ServiceNow, will both join the board of directors as a result of the fundraising.
Grafana Labs is expanding its free offering by adding 50 GB of traces to the 50 GB of logs, 10,000 series of Prometheus measurements and three Grafana dashboard users already included with the “really useful” free forever tier of Grafana Cloud. with the fundraising round. Access to both free and paid plugins, including those for Elasticsearch, Jira, Datadog, Splunk, AppDynamics, Oracle, MongoDB, Snowflake, ServiceNow, and more, is provided by both Grafana Cloud and the on-premises Grafana Enterprise Stack service.
Grafana Labs co-founder and CEO Raj Dutt remarked, “It’s been a fantastic year, highlighted by the rapid acceptance of Grafana Cloud, the growth of our Loki logs and Prometheus metrics services, the launch of Tempo 1.0 for tracing, and the continuous development of the Grafana frontend.” “This fresh capital investment, along with the appointment of two very accomplished technology executives to our board, will focus us on expediting product development to support the success of our community and consumers,” the company stated.
Grafana Labs, according to Eschenbach, “has developed from a single open-source project into a full platform that is extensively used throughout the Fortune 500 and Forbes Global 2000, helping firms make better decisions based on actionable data.” “I see many parallels between the evolution of Grafana Labs and the early years of VMware: both were focused on developing solutions and scaling them throughout the company. We’re excited to collaborate with Raj and the Grafana Labs team to continue creating top-notch observability products.
Since the beginning of the year, the number of employees at Grafana Labs has doubled, and there are now approximately 500 Grafanistas working remotely in more than 40 different nations. Grafana Labs has announced the acquisitions of k6 for contemporary load testing and Pace. dev for creating developer tools as part of its commitment to providing value to commercial customers as well as the open-source community.
Schneider remarked, “With ServiceNow, I had the opportunity to see firsthand how challenging it is to create an efficient observability system that can give teams a single view across the enterprise.” We believe that Grafana Labs’ vendor-neutral “big tent” attitude has made it simpler for businesses to monitor all of their systems from a single dashboard. We’re honored to assist them in their effort to provide a novel strategy to the market.
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