Honeycomb announced the close of a $20 million Series B round led by e.ventures Growth, with participation from Industry Ventures and existing investors Storm Ventures, Scale Ventures Partners, NextWorld Capital, and Merian Ventures.
This round of funding comes as Honeycomb continues to see sustained strong business growth and product innovation, and brings Honeycomb’s total amount of capital raised to $46.9 million.
“With a booming interest in Honeycomb’s solutions, this infusion of capital enables us to accelerate our product roadmap and further our innovative approach to helping customers efficiently manage the performance of complex software at scale. The valuation achieved in this round of investment is reflective of our market leadership and the continued commitment to building upon our industry-defining solutions.” said Christine Yen, CEO of Honeycomb.
“The tremendous results delivered by Honeycomb’s leadership team have given us the confidence to make a rare investment from the growth arm of e.ventures,“ said Thomas Gieselmann, General Partner of e.ventures. “As the de facto observability tool for businesses, Honeycomb’s innovations continue to empower customers with the solutions needed to deliver on the promise of seamless digital experiences. We believe Honeycomb is well positioned and firmly committed to remaining the clear leader within the maturing observability market.”
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