- Application performance management company LogRocket announced it raised $15 million in Series B funding
LogRocket — an application performance management (APM) company founded by Ben Edelstein and Matthew Arbesfeld — announced it has raised $15 million in Series B funding. And the company also announced it launched LogRocket Metrics — which is the next step towards a complete front-end APM platform. The funding round was led by Battery Ventures with participation from seed investor Matrix Partners.
LogRocket Metrics is the first APM solution that is built specifically to understand the complex issues that arise in web applications. And it ties together session replay and APM in an easy-to-use dashboard solution that anyone can use even if they are little technical expertise.
“More and more we’re seeing that every company is now a software company, relying on software for their core business. We are on a mission to help those companies make their web experiences as perfect as possible,” said Arbesfeld — who is the CEO of LogRocket. “By addressing performance on the front-end, we make it far easier for companies to identify and fix issues before they impact potential customers and cost companies sales.”
Generally, traditional APM tools require IT or product teams to write code to define a user transaction and measure performance. And even after the transaction is defined, companies have to wait days (or weeks) to gain enough data for statistical significance.
With LogRocket Metrics, teams can define any user transaction in the user interface and instantly see retroactive data. As a result, they will be able to understand how an issue affects customers so that it can be prioritized and addressed. And rapid resolution can result in increased sales due to better user experiences compared to losing customers who grow frustrated waiting for a page to load or transaction to be completed.
This round of funding will be used to continue to grow headcount — which is expected to more than double in the coming year. And the company is going to invest in continuing to expand the functionality of its solution.
In the past six months, LogRocket doubled its customer base and recently surpassed 1,000 customers with particularly strong traction in SaaS, finance, healthcare, and government applications. And LogRocket’s self-hosted option — which enables customers to forego traditional SaaS offerings and run LogRocket on their own servers — along with its commitment to data privacy enabled the company to see tremendous success in these often difficult to penetrate industries.
With this funding round, LogRocket plans to further accelerate adoption as it signs up new customers. Some of LogRocket’s current customers include Airbnb, Bloomberg, Brex, Cargurus, FDNY, Kaplan, Reddit, and Waste Management.
“Monitoring front-end and back-end applications are very different processes, and must be seen as such. The LogRocket team understands this and is taking a fundamentally different approach,” added Neeraj Agrawal, general partner at Battery Ventures. “LogRocket effectively addresses a problem developers have tried to solve for a very long time. Its technology makes APM totally painless in today’s environments. The team also has bold future plans to help companies stay ahead, and we are excited to work with them to execute.”
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