Company strengthens board of directors with enterprise software veterans, announces addition of tracing to its full Grafana Cloud observability platform.
NEW YORK, Aug 25 (Bernama-GLOBE NEWSWIRE) -- Grafana Labs, the company behind the world’s most ubiquitous open and composable operational dashboards, today announced a $220 million Series C investment round, co-led by new investors Sequoia Capital and Coatue, with participation from existing investors Lightspeed Venture Partners, Lead Edge Capital, and GIC. The new investment values Grafana Labs at $3 billion (for crypto fans, that’s more than 60,500 BTC as of August 23 at 22:00 UTC), more than ten times the valuation of the Series A round just two years ago. As part of the funding, Carl Eschenbach, partner at Sequoia and former President and COO at VMware, and David Schneider, general partner at Coatue and former President at ServiceNow, will be joining the company’s board of directors.The “actually useful” free forever tier of Grafana Cloud provides the industry’s most generous no-cost observability stack, and with the funding round, Grafana Labs is adding 50GB of traces to the 50GB of logs, 10,000 series of Prometheus metrics, and 3 Grafana dashboard users that come with the free offering. Both Grafana Cloud and the on-premises Grafana Enterprise Stack offering include access to free and commercial plugins, such as Elasticsearch, Jira, Datadog, Splunk, AppDynamics, Oracle, MongoDB, Snowflake, ServiceNow, and more.
“It’s been an incredible year at Grafana Labs, highlighted by the rapid adoption of Grafana Cloud, the growth of our Loki logs and Prometheus metrics offerings, the introduction of Tempo 1.0 for tracing, and the continued development of the Grafana frontend,” said Raj Dutt, co-founder and CEO at Grafana Labs. “This new investment of capital, as well as the addition of two highly experienced technology executives to our board, will focus us on accelerating product development to support our community’s and customers' success.”
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