
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.
