Chronosphere, a New York-based cloud-native observability platform that puts engineering organizations back in control by taming rampant data growth and cloud-native complexity, raised an additional $115 million in Series C funding.
New investors include GV (formerly Google Ventures) and Geodesic Capital, bringing Chronosphere's total funding to $343 million, and increasing the company's valuation to $1.6 billion.
Existing Chronosphere investors also participated in the round, including Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital, and Lux Capital.
The round will support continued innovation and go-to-market efforts for its market-leading cloud native observability platform.
"This funding underscores the crucial market need for powerful cloud-native observability solutions to generate positive business outcomes—especially critical now as companies seek more efficient and effective ways to improve customer experiences," said Martin Mao, CEO, and co-founder of Chronosphere. "We plan to use this latest investment to bring our forward-looking observability solution to the broader market as we continue to disrupt legacy solutions that provide too little, too late for too much cost."
Chronosphere also chalked up key wins at Robinhood, Snap, Obsidian Security, and Astronomer, which join Chronosphere's growing list of enterprise customers that include DoorDash, Zillow, and Visa.
Company: Chronosphere, Inc.
Raised: $115.0M
Round: Series C
Funding Month: January 2023
Lead Investors:
Additional Investors: GV, Geodesic Capital, Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital, and Lux Capital
Company Website: https://chronosphere.io/
Software Category: Observability Platform
About the Company: Chronosphere is the only cloud-native observability platform that puts engineering organizations back in control by taming rampant data growth and cloud-native complexity while accelerating innovation. Faster alerts and issue resolution ensure responsive and reliable cloud-native workloads underlying the most valuable services at leading organizations like DoorDash, Robinhood, and Abnormal Security. Teams at organizations of all sizes trust Chronosphere to help them drive competitive advantage and world-class customer experiences while reducing engineering burnout and eliminating lock-in. Its mission is to guide modern businesses to leverage observability as an essential competitive advantage.
Source: https://www.prnewswire.com/news-releases/chronosphere-raises-115m-in-additional-series-c-funding-at-a-1-6-billion-valuation-301717260.html