- Real-time cloud monitoring and observability company SignalFx announced it has raised $75 million in Series E funding
- Tiger Global Management led this round of funding and was joined by existing investors
SignalFx, a leader in real-time cloud monitoring and observability for infrastructure, microservices, and applications, announced recently that it raised $75 million in Series E funding led by Tiger Global Management with participation from existing investors.
Including this round, SignalFx has raised a total of $179 million. The funding will be used for accelerating product development and global expansion.
SignalFx’s growth comes at a time when enterprises have been rapidly adopting cloud-native technologies like microservices, containers, Kubernetes, and serverless functions for speeding their rate of innovation.
And SignalFx’s annual revenues also increased by a compound annual growth rate of 170% since sales began in 2015 as traditional monitoring tools have not been keeping pace with new requirements for speed, scale, and automation.
By 2022, more than 75% of global organizations will be running containerized applications in production — up from fewer than 30% today according to Gartner.
SignalFx’s customer list has increased to include hundreds of brands in an array of verticals and geographies ranging from e-commerce to transportation to consumer products to healthcare. Some of the customers include Acquia, Amtrak, athenahealth, Carbon Black, Cloudreach, Freecharge, HubSpot, Kayak, Lululemon, Namely, NBCUniversal, Rappi, Shutterfly, Square, the Warehouse Group, and Yelp,
“The addition of Tiger Global Management to our team comes at an important time for SignalFx,” said SignalFx CEO Karthik Rau. “SignalFx is at an inflection point in its growth as organizations are investing aggressively in their cloud and digital transformation initiatives and reevaluating their systems management and monitoring strategies. The additional capital from this financing allows us to invest even more in our industry-leading products while also extending our go-to-market reach to more organizations around the world.”
SignalFx is known for pioneering the use of streaming analytics for monitoring cloud infrastructure and applications and building a highly scalable, low latency platform that can process massive amounts of data using advanced data science to accurately identify patterns of behavior and alert on anomalies in seconds.
And in November, SignalFx further increased the technical leadership of its platform by adding Microservices APM — which is the industry’s first real-time application performance monitoring solution designed for accelerating the troubleshooting and triaging of microservices-based applications. Microservices APM is powered by a unique NoSample architecture that observes every transaction rather than just a small random sample and accurately reports on every anomaly.
SignalFx was founded in 2013 by the original developers of Facebook’s metrics-based monitoring solution (ODS). And in the last two years, the company expanded its executive bench including COO Mark Cranney, CFO Mark Resnick, EVP of Engineering Leonid Igolnik, CMO Tom Butta, and Chief People Officer Laura MacKinnon.
In February, SignalFx opened an R&D Support Office in Krakow, Poland and expanded sales operations throughout EMEA and Australia. Now the company’s global headcount is 270 and growing.
