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Operational intelligence for DevOps startup SignalFX Inc., a startup that does operational intelligence for the software development method DevOps, today said it has landed $45 million in a late-stage funding round.
The Series D round was led by venture capital firm General Catalyst, with participation from existing investors Andreessen Horowitz and Charles River Ventures. It brings the company’s total funding to $103.5 million since it was founded in 2013.
SignalFX has made a name for itself by delivering what it calls operational intelligence systems for companies that rely on modern, cloud-native information technology architectures such as software containers and microservices. These new architectures are proving to be hugely popular with software developers, providing greater agility by allowing them to build applications that can run on any platform or infrastructure.
But implementing these kinds of technologies isn’t always plain sailing, since they require an alternative to the traditional application monitoring systems used for older, on-premises IT architectures. The problem is that these older systems only look at the individual application components rather than the entire cloud infrastructure, which means that many problems with modern apps could be missed.
SignalFX reckons it solves this by using a more sophisticated analytics-based monitoring system that covers all of the data being produced by applications, giving developers far greater insights into performance issues.
The company said it has tripled its revenue since it first began selling its tools in 2015, though it didn’t provide an absolute number. The firm has also doubled its employee base in the last year, added more than 100 new product features and integrations to its platform, and integrated its services with public cloud providers such as Amazon Web Services Inc., Google Cloud Platform and Microsoft Azure.
Karthik Rau (pictured), SignalFX’s chief executive, told SiliconANGLE that the plan is to use the latest funding to continue investing aggressively in research and development in order to build out the company’s platform further. He declined to provide any specifics but said the company was working to bring “new capabilities for next-generation serverless architectures and microservices” to its customers.
“Our team is invested in long term growth as we continue to go after the huge opportunity in the cloud market, and we’ll continue to evaluate what makes sense for our employees, customers and investors as we grow,” Rau said.
Rau and SignalFX Chief Technology Officer Arijit Mukherji spoke last year about the company with theCUBE, SiliconANGLE’s livestreaming studio:
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