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Alternative Assets  + VC  |  January 12, 2023
Cloud Native Observability Platform Chronosphere Raises $115M in Series C at $1.6B Valuation
Joe Palmisano
By: Joe Palmisano

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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Chronosphere

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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