Chronosphere has raised an additional $115 million Series C funding.
New investors include GV (formerly Google Ventures) and Geodesic Capital, bringing Chronosphere's total funding to $343 million, and increasing the company's valuation to $1.6 billion. Existing Chronosphere investors also participated in the round including: Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital, and Lux Capital. The round will support continued innovation and go-to-market efforts for its cloud native observability platform.
"In a cloud native world where businesses are looking for both efficiency and effectiveness, there's a dire need for organizations to get observability right," said Sangeen Zeb, Partner at GV. "Chronosphere has cracked the code to tame the data deluge in complex environments and provides better tools that quickly sift through the most meaningful data for better customer experiences and business outcomes."
"This funding underscores the crucial market need for powerful cloud native observability solutions to generate positive business outcomes–especially critical now as companies seek more efficient and effective ways to improve customer experiences," said Chronosphere CEO and Co-founder, Martin Mao. "We plan to use this latest investment to bring our forward-looking observability solution to the broader market as we continue to disrupt legacy solutions that provide too little, too late for too much cost."
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