Steadybit, a Solingen, Germany-based company that focuses on chaos and resilience engineering in the technology sector, has secured $6 million in Series A funding.
SaaS Investors
The round was led by Paladin Capital Group, with participation from previous investors, Boldstart Ventures, Angular Ventures, and NewForge.
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. Paladin is a global investor that supports innovative technology companies through venture investment and growth capital. Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs, and governments for over two decades.
Steadybit Use of Funds
The company plans to utilize the funds to expand its team across product development, engineering, sales, and marketing. The investment will support its international growth and the launch of 'Reliability Advice,' a groundbreaking feature aiding in preempting and mitigating system vulnerabilities.
About Steadybit
Steadybit is a chaos and resilience engineering platform designed to proactively reduce downtime and provide visibility into systems to detect issues. Its mission is to improve software reliability through chaos engineering, a vital practice that ensures systems are robust and resilient against unpredictable online environments. This platform is available as a Software as a Service (SaaS) or on-premises solution. Companies such as Salesforce, ManoMano, REWE Digital, and StackState already rely on Steadybit’s chaos engineering platform to protect their customers from disruption. Founded in 2019, Steadybit is based in Solingen, Germany.
Funding Details
Company: Steadybit GmbH
Raised: $6.0M
Round: Series A
Funding Month: March 2024
Lead Investors: Paladin Capital Group
Additional Investors: Boldstart Ventures, Angular Ventures, and NewForge
Company Website: https://steadybit.com/
Software Category: Chaos and Resilience Engineering
Source: https://www.paladincapgroup.com/software-reliability-platform-steadybit-announces-6m-funding-led-by-paladin-launches-innovative-advice-feature/