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Cloud Native Observability Platform Chronosphere Raises $115M in Series C at $1.6B Valuation

Cloud Native Observability Platform Chronosphere Raises $115M in Series C at $1.6B Valuation

Chronosphere raised an additional $115mn in a Series C round, bringing the funding of the New York-based provider of cloud native observability tools to $343mn with a valuation of $1.6bn.

The round was led by new investors GV (formerly Google Ventures) and Geodesic Capital. Existing investors, including Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital and Lux Capital, also participated in the round.

Chronosphere, led by CEO Martin Mao, is a platform that analyzes the data generated by customer’s information technology assets, with the goal of spotting technical issues before they become a serious problem.

The funding comes after a record year during which the company tripled its annual recurring revenue and staff headcount, while attaining more than 145% in net revenue retention – a metric that measures how much revenue the company can get from its existing customer base.

The company says its current list of users includes DoorDash, Zillow and Visa, with Robinhood, Obsidian Security and Astronomer also now using its service.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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