Honeycomb Raises $50 Million in Series C Funding
October 20, 2021
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Honeycomb announced the close of a $50 million Series C round, led by New York–based global private equity and venture capital firm Insight Partners, with participation from existing investors Scale Venture Partners, Headline (formerly e.ventures), Storm Ventures, Industry Ventures, and NextWorld Capital.

This round of funding brings the total capital raised to $96.9M for Honeycomb.

“This infusion of capital accelerates our roadmap and international expansion, and helps ensure that observability and high-performance engineering practices are accessible to all teams—from SRE to product engineering, from novice to expert, from backend to client-side, and from startups to established enterprises going through digital transformation.” Christine Yen, CEO of Honeycomb.

“High-performing engineering teams are now a critical differentiator,” said George Mathew, Managing Director at Insight Partners. “As the world is increasingly digital, the companies that win are those that innovate faster, without sacrificing stability, which is a difficult challenge with today’s complex distributed systems. Honeycomb stood out as the clear leader in modern system observability and is uniquely suited to give teams what they need in both speed and agility.”

Specific areas of investment based on the new round include:

- Delivering more features, like the recent release of Honeycomb Metrics, to make it easier for legacy APM users to consolidate tools and migrate to observability-based workflows.

- Customer programs that provide Honeycomb Enterprise at no cost through the remaining term of legacy APM contracts so teams can make the switch based on their technical and business needs, not on arbitrary fiscal timelines.

- Outreach programs that encompass education, community support, and generous pricing models for startups, students, and teams just getting started with observability.

- Further investments in Honeycomb’s distributions for OpenTelemetry, the open-source and vendor-agnostic observability standard for instrumenting, generating, collecting, and exporting telemetry data.

- International expansion, spearheaded by former Pivotal, SignalFx, and Chef executive Andy Hawkins as the European regional director, to build on the success of fast-growing enterprise customers headquartered or with a strong presence in Europe, such as HelloFresh and Stripe.

- Growth in Honeycomb’s partner ecosystem and expanding successes like the AWS Marketplace and integrations, as well as toolchain partnerships with vendors like Cloudflare, LaunchDarkly, and CircleCI.

Some of the world’s most elite engineering teams use Honeycomb, and the company aims to bring these practices to all teams.

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