Grafana Labs, a supplier of open and composable operational dashboards located in New York City, has secured $220 million in Series C investment.
New investors Sequoia Capital and Coatue led the round, which valued the firm at $3 billion, with previous investors Lightspeed Venture Partners, Lead Edge Capital, and GIC also participating. Carl Eschenbach, a Sequoia partner and former President and COO of VMware, and David Schneider, a general partner at Coatue and former President of ServiceNow, will join Grafana Labs’ board of directors as part of the financing.
The cash will be used to speed up product development and extend the company’s reach.
Grafana Cloud’s “really usable” free forever tier offers the industry’s most generous no-cost observability stack, and with the financing round, Grafana Labs is adding 50GB of traces to the free offering’s 50GB of logs, 10,000 series of Prometheus metrics, and 3 Grafana dashboard users. Elasticsearch, Jira, Datadog, Splunk, AppDynamics, Oracle, MongoDB, Snowflake, ServiceNow, and more free and commercial plugins are available in both Grafana Cloud and Grafana Enterprise Stack.
Grafana Labs, led by co-founder and CEO Raj Dutt, provides open and composable monitoring and observability stack based on Grafana, an open-source dashboard and visualization engine. Grafana Enterprise Stack and Grafana Cloud help companies manage their observability strategies with full-stack offerings that include extensive enterprise data source plugins, dashboard management, alerting, reporting, and security, scalable metrics (Prometheus & Graphite), logs (Grafana Loki), and tracing (Grafana Tempo).
“In only a few years, Grafana Labs has evolved from a single open-source project to a full platform that is extensively utilized throughout the Fortune 500 and Forbes Global 2000, assisting organizations in making better decisions based on actionable data,” Eschenbach stated. “I see many parallels between Grafana Labs’ growth and VMware’s early years: a focus on addressing challenges for developers and extending those solutions throughout the company. We’re excited to collaborate with Grafana Labs and look forward to continuing to create world-class observability solutions with Raj and his team.”
Grafana Labs has nearly quadrupled its workforce since the start of the year, with roughly 500 Grafanistas working remotely in over 40 locations. Grafana Labs recently announced the acquisitions of k6 for contemporary load testing and Pace.dev for creating developer tools as part of its commitment to offer value to business clients as well as the open-source community.
Bloomberg, JP Morgan Chase, eBay, PayPal, and Sony are among the more than 1,500 clients who use it through more than 750,000 active installations throughout the world.