Observe, a San Mateo, CA-based SaaS observability company, raised $145M in Series B funding.
The round was led by Evolution Equity Partners and Madrona Ventures. In conjunction with the funding, Madrona Managing Director Soma Somasegar joined Observe’s board of directors.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Jeremy Burton, Observe is an observability company reinventing the way business data is stored, managed and analyzed. It eliminates silos of logs, metrics and traces by storing all data in a single, more cost-efficient data lake. Its Data Graph technology enables users to troubleshoot distributed applications three times faster than competing observability solutions.
Observe now serves almost 100 customers, including large enterprises such as Capital One and Commonwealth Bank of Australia. Other investors included Capital One Ventures, and Sutter Hill Ventures.
FinSMEs
26/09/2024