Software developer

Open-source software developer Grafana Labs wins $240 million funding round

Grafana Labs, the fast-growing developer of open-source data observability, visualization and dashboard software Grafana, has raised $240 million in a Series D funding round, announced Wednesday. the society.

The latest funding comes just seven months after the company raised $220 million in a Series C funding round in August.

The latest round was led by existing investor GIC with participation from new investor JP Morgan. All other existing investors also participated in the round, including Sequoia Capital, Coatue, Lightspeed Venture Partners and Lead Edge Capital.

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New York-based Grafana Labs develops the open-source Grafana software for data analysis and visualization that has over 900,000 active installs. Grafana Labs also uses Grafana technology to develop its commercial enterprise products, including the Grafana Data Observability Platform for collecting and analyzing measurement, logging and tracking data generated by the infrastructure. computers, networks, cybersecurity tools and other systems.

In November, Grafana Labs entered into a strategic partnership with Microsoft to develop a managed Grafana service that runs on the Azure cloud platform.

“Our plans are simple: aggressively implement our product roadmap and our commitment to adopting the big tent – enabling our users to compose and visualize data from any source – while continuing to develop modern observability capabilities through metrics, logs, tracing, etc. said Grafana Labs CEO and co-founder Raj Dutt in a statement announcing the funding.

“We are committed to continuously releasing impactful open source software, bringing many new features to market, and continuously listening to the community and our customers to drive innovation,” Dutt said.

GIC, Singapore’s sovereign wealth fund, made its initial investment in Grafana Labs as part of the company’s $50 million Series B funding round in August 2020.

“Grafana Labs is a strong, product-driven company that has built an engaged customer base and has significant adoption,” Choo Yong Cheen, GIC’s chief investment officer for private equity, said in a statement.

“We’re excited to lead the round, especially as we’ve seen Grafana Labs’ ability to translate some of their free adoption into consistent business results. We see significant global interest in Grafana Labs’ products and look forward to leveraging GIC’s network to support the company’s global growth ambitions and deepen relationships in APAC over the long term,” said Choo. Yong Cheen.

Grafana Labs said global adoption of Grafana has grown 25-fold over the past six years to reach its current 900,000 active installations and 10 million users worldwide. Over 2,000 Grafana Labs commercial customers include Bloomberg, JP Morgan Chase, Sony and eBay.