Application performance monitoring firm Unravel Data raises $35M
Big-data application performance monitoring firm Unravel Data Systems Inc. today said it has raised $35 million in a round of funding led by Point72 Ventures.
Harmony Partners and existing investors Menlo Ventures, GGV Capital and M12 also participated in the Series C round, which brings Unravel’s total funding to date to just over $57 million.
The company has been making a name for itself for the analysis and resolution services it provides for popular big-data tools such as Apache Hadoop, Kafka, Spark, Hive and Impala.
Unravel’s systems effectively unify a process that previously required lots of separate monitoring and administration tools, including application logs, Apache Sparkcontext, Cloudera Inc.’s Manager and MapR Technologies Inc.’s Control Systems. Its performance management platform works by tracking, correlating and interpreting performance data across the big data stack so users can optimize workloads, troubleshoot and analyze them from a single dashboard.
Enterprise Strategy Group senior analyst Mike Leone said that although a number of companies, including Cisco Systems Inc.’s AppDynamics LLC, New Relic Inc., Splunk Inc. and DataDog Inc., have tried to address application performance management, most have failed to do so in a way that satisfies all their customers.
“The reality is that these solutions were not initially built for modern data systems,” Leone said. “By being natively built with modern IT in mind, Unravel can cost-effectively deliver the data application awareness and AI-powered recommendations, resolutions and answers that organizations demand.”
Unravel Data said its latest round was oversubscribed, thanks in part to annual recurring revenue jumping by 500% in the last year. Much of that growth was driven by its partner momentum, with Unravel making its services more broadly available on Amazon Web Services Inc.’s and Microsoft Corp.’s Azure clouds. In addition, enterprises have a growing need for Unravel’s app monitoring capabilities thanks to their adoption of applications that rely on new technologies such as artificial intelligence, machine learning and “internet of things.”
“Every business is becoming a data businesss,” said Unravel Chief Executive Officer Kunal Agarwal (pictured). “Big data implementations have become a top priority for businesses of all sizes, yet organizations are experiencing serious performance problems that frustrate executives, data analysts and IT operations teams alike.”
Going forward, Agarwal told SiliconANGLE, Unravel’s goal is to help enterprises with these problems chiefly by accelerating its support for cloud data services and adding new cloud partners, including support for Google Cloud Platform.
Agarwal appeared on theCUBE, SiliconANGLE’s mobile livestreaming studio, during the BigData SV event last year in San Jose, California, where he talked about how Unravel is helping companies with the management of application development and performance monitoring:
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