June 19, 2024

Afrispa

Epicurean computer & technology

Open-Source Software Developer Grafana Labs Scores $240 Million In Funding Round

2 min read

[ad_1]

Grafana Labs, the quick-growing developer of the open-supply Grafana details observability, visualization and dashboard application, has lifted $240 million in a Collection D spherical of funding, the corporation reported Wednesday.

The most up-to-date financing arrives just 7 months soon after the enterprise raised $220 million in a Series C funding round in August.

The most current spherical was led by current investor GIC with participation from new trader J.P. Morgan. All other current traders also participated in the round including Sequoia Cash, Coatue, Lightspeed Venture Companions and Guide Edge Capital.

[Related: The 10 Coolest Open-Source Software Tools Of 2021]

Grafana Labs, dependent in New York, develops the open up-supply Grafana computer software for details analytics and visualization that has additional than 900,000 active installations. Grafana Labs also employs the Grafana technological know-how to create its business enterprise products and solutions, together with the Grafana details observability system for gathering and examining metric, log and trace details produced by IT infrastructure, networks, cybersecurity resources and other programs.

In November Grafana Labs struck a strategic partnership with Microsoft to create a Grafana managed assistance that runs on the Azure cloud system.

“Our options are basic: Aggressively supply on our merchandise roadmap and our commitment to embracing the major tent — enabling our people to compose and visualize details from any resource — when continuing to build out fashionable observability abilities throughout metrics, logs, tracing, and additional,” reported Grafana Labs CEO and co-founder Raj Dutt explained in a statement announcing the funding.

“We are fully commited to the continual launch of impactful open-resource software program, bringing many new capabilities to marketplace, and regularly listening to the group and our customers to travel innovation,” Dutt explained.

GIC, Singapore’s sovereign wealth fund, made its preliminary investment decision in Grafana Labs in the company’s $50 million Collection B financing spherical in August 2020.

“Grafana Labs is a solid, product or service-led business that has crafted a fully commited purchaser foundation and has substantial adoption,” stated Choo Yong Cheen, GIC’s chief financial investment officer for private fairness, in a assertion.

“We are enthusiastic to direct the spherical, specifically as we have witnessed Grafana Labs’ potential to translate a part of their no cost adoption into steady business benefits. We see considerable international desire in Grafana Labs’ solutions and glimpse ahead to leveraging GIC’s network to support the company’s world-wide expansion ambitions and generate deeper interactions in APAC about the long expression,” Choo Yong Cheen stated.

Grafana Labs explained globally adoption of Grafana has elevated by a component of 25 in the very last 6 decades to its present-day 900,000 energetic installations and 10 million worldwide end users. Grafana Labs’ own 2,000-additionally industrial shoppers incorporate Bloomberg, JP Morgan Chase, Sony and eBay.

[ad_2]

Supply link