SignalFx raises $75 million to monitor cloud apps, services, and environments in real time
Summary
The round, which follows a $45 million series D in May 2018, was led by Tiger Global Management and saw participation from existing investors Andreessen Horowitz, CRV (formerly Charles River Ventures), and General Catalyst. Since 2015, SignalFx’s revenues have increased by a compound annual growth rate of 170%, and the company counts among its customers brands like Acquia, Carbon Black, Cloudreach, Freecharge, HubSpot, Kayak, Rappi, Shutterfly, Square, Yelp, Amtrak, Athena Health, Lululemon, NBCUniversal, the Warehouse Group, Sunrun, Ellie Mae, Cisco, Drift, and Monster.com. “The additional capital from this financing allows us to invest even more in our industry-leading products while also extending our go-to-market reach to more organizations around the world.” SignalFx — whose founding members included the original developers of Facebook’s metrics-based monitoring solution and veterans of LoudCloud, Opsware, Red Hat, VMWare, PTC, and Sprinklr — taps a low-latency, scalable streaming analytics engine to keep tabs on microservices (collections of loosely coupled, independently deployable app components across clouds) and orchestrated container environments like Kubernetes and Docker, in addition to serverless architectures like AWS Lambda, Azure Functions, and Google Cloud Functions. SignalFx’s vendor-neutral suite automatically discovers all monitored services and their interdependencies in real time and observes the data transactions among them, collecting trace information from widely used open source frameworks and libraries. It uses machine learning algorithms to define anomalies and convert span- and path-level data into metrics, and it leverages an alerting engine that triggers automated remediation with “near-zero” latency and integrates with third-party notification services.
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