Circonus announced a $6.8 million Series A1 investment to continue advancing its machine data intelligence platform and meet market demand for machine data intelligence across multiple industries.
The round was led by Osage Venture Partners and included new investors Bull City Venture Partners and Ben Franklin Technology Partners. NewSpring, which led the Series A investment, also invested in the round. Earlier in 2019, Circonus also brought on serial technology entrepreneur Bob Moul as CEO to lead the company in raising capital, growing the team, and expanding its market share.
Moul previously served as the CEO of Cloudamize, a cloud software company, which was acquired by Blackstone/Cloudreach in July 2017, and was President and CEO of Boomi, a cloud-based integration software company, which was acquired by Dell in November 2010. Theo Schlossnagle, who founded and has led Circonus since 2010, will serve as the company’s chief technology officer.
“As more of our world becomes digitized and virtualized, machines, and the data that we are able to gather from them, have become not just instrumental, but indispensable,” said Moul. “I’m honored to have the continued support of NewSpring, and am excited to have the additional backing and leadership from Osage Venture Partners. I’m looking forward to leading Circonus into its next chapter as we continue to grow and expand into new markets.”
“We are excited to partner with the leadership team at Circonus, particularly given Bob’s and Theo’s track records of success, and are impressed with the technology they’ve built,” said David Drahms, Partner, Osage Venture Partners. “No other solution can handle the massive scale of data that businesses are dealing with today at the frequency, speed and accuracy that is required for mission-critical IoT and monitoring systems. The timing is right.”
Joining Osage Venture Partners and NewSpring Capital is Bull City Venture Partners based in Durham, North Carolina and Ben Franklin Technology Partners of Southeastern Pennsylvania.
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