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Grafana Labs has simply introduced a $240 million Collection D spherical led by current investor GIC and joined by new investor J.P. Morgan. The Collection D funding comes simply seven months after the corporate’s $220 million Collection C spherical. The corporate reportedly had a $5B valuation earlier than the most recent spherical.
As for the affect of this funding, Grafana Labs CEO and Co-founder Raj Dutt mentioned, “Our plans are easy: aggressively ship on our product roadmap and our dedication to embracing the large tent — enabling our customers to compose and visualize information from any supply — whereas persevering with to construct out fashionable observability capabilities throughout metrics, logs, tracing, and extra. We’re dedicated to the continuous launch of impactful open supply software program, bringing many new capabilities to market, and continually listening to the neighborhood and our clients to drive innovation.”
Artwork by Caroline Cracco, courtesy of Grafana Labs.
The corporate is greatest identified for its open supply platform for dashboards and visualization, Grafana, of which it says worldwide adoption has elevated 25x over 6 years with 900,000 lively installations from 10 million customers. Prospects embody Bloomberg, eBay, PayPal, and Sony. Grafana Labs gives a number of observability instruments in its open supply software program stack, together with Grafana Loki for log information, Grafana Tempo for traces, and its model new time collection database, Grafana Mimir for metrics.
“On the coronary heart of the Grafana observability stack are the favored dashboards which might be interoperable with any variety of disparate information sources, enabling customers of the Grafana platform to visualise something they need and management their very own observability technique,” the corporate mentioned.
The addition of J.P. Morgan as an investor is notable. In a weblog publish, Dutt mentioned engineers at JPMorgan Chase have been lively within the Grafana open supply neighborhood with the corporate changing into a Grafana Labs buyer in 2018, and in 2020, Grafana Labs was inducted into the JPMorgan Chase Corridor of Innovation.
“Grafana Labs delivers a widely known and adopted observability stack. In evaluating Grafana Labs as an funding alternative, we have been ready to attract on our relationship, together with detailed evaluation on the broader market, vendor panorama, and buyer enter. It’s clear that clients and prospects see each short-term and long-term success working with Grafana Labs and, with our funding, we’re blissful to allow Grafana Labs to proceed to develop and scale,” mentioned Elena Zislin, Managing Director, J.P. Morgan.
GIC is Singapore’s sovereign wealth fund, and it first invested in Grafana Labs throughout the firm’s Collection B spherical in 2020.
“Grafana Labs is a powerful, product-led firm that has constructed a dedicated buyer base and has vital adoption,” mentioned GIC’s Chief Funding Officer for Personal Fairness, Choo Yong Cheen. “We’re enthusiastic to steer the spherical, significantly as we’ve witnessed Grafana Labs’ capacity to translate a portion of their free adoption into constant enterprise outcomes. We see vital international curiosity in Grafana Labs’ merchandise and stay up for leveraging GIC’s community to help the corporate’s international development ambitions and drive deeper relationships in APAC over the long run.”
All different current traders additionally participated on this spherical, together with Sequoia Capital, Coatue, Lightspeed Enterprise Companions, and Lead Edge Capital.
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