Instana raises $30M for its application performance monitoring service
Summary
The company, which counts the likes of Audi, Edmunds.com, Yahoo Japan and Franklin American Mortgage as its customers, considers itself an APM 3.0 player. It argues that its solution is far lighter than those of older players like New Relic and AppDynamics (which sold to Cisco hours before it was supposed to go public). Instana says that its annual sales grew 600 percent over the course of the last year, something that surely attracted this new investment. “Monitoring containerized microservice applications has become a critical requirement for today’s digital enterprises,” said Meritech Capital’s Alex Kurland. Meritech is excited to partner with Instana as they continue to disrupt one of the largest and most important markets with their automated APM experience.” The company plans to use the new funding to fulfill the demand for its service and expand its product line.
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