Total amount raised
$342.5 Millions
Latest funding date
Location
Chronosphere has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company specializes in providing a cloud-native observability platform designed to help teams resolve incidents and control costs.
Keep reading to explore the intricacies of Chronosphere's fundraising journey and the investors backing this innovative platform.
What Is Chronosphere?
Chronosphere, founded in 2019 by Martin Mao and Rob Skillington, is headquartered in New York, New York. The company specializes in providing a cloud-native observability platform designed to help teams resolve incidents and control costs.
With a focus on managing the speed, scale, and complexity of cloud-native environments, Chronosphere offers solutions that improve developer productivity and reduce infrastructure costs. Their platform is trusted by innovative brands like DoorDash, Snap, and Zillow.
Currently, Chronosphere employs between 251-500 people, reflecting its rapid growth and the increasing demand for its observability solutions.
How Much Funding Has Chronosphere Raised?
- Series A
- Amount Raised: $11.1M
- Date: November 2019
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their cloud-native observability platform.
- Series B
- Amount Raised: $43.4M
- Date: January 2021
- Lead Investors: Greylock, Lee Fixel, Lux Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series C
- Amount Raised: $173M
- Date: October 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate product development.
- Series C Extension
- Amount Raised: $115M
- Date: January 2023
- Lead Investors: General Atlantic
- Valuation at Round: $1.6 billion
- Motivation Behind the Round: To support continued innovation and go-to-market efforts.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: CrowdStrike Falcon Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance security features and expand customer base.
Total Amount Raised: $342.5M
Current Valuation: $1.6 billion
Key Investors
- Greylock
- Details: Greylock is a venture capital firm known for its early-stage investments in technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Consumer and enterprise software, cloud computing, cybersecurity.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- General Atlantic
- Details: General Atlantic is a global growth equity firm that partners with companies to help them scale. They have a significant presence in various sectors worldwide.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Airbnb, Alibaba, Uber.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. They focus on companies that are pushing the boundaries of innovation.
- Investment Focus Areas: Emerging science, technology ventures.
- Notable Investments: Auris Health, Zoox, Shapeways.
- Lee Fixel
- Details: Lee Fixel is a venture capitalist and the founder of Addition, an investment firm. He is known for his strategic investments in high-growth companies.
- Investment Focus Areas: Technology, consumer sectors.
- Notable Investments: Peloton, Flipkart, SurveyMonkey.
- CrowdStrike Falcon Fund
- Details: CrowdStrike Falcon Fund is a venture capital fund associated with CrowdStrike, a leading cybersecurity company. They focus on investing in innovative security solutions.
- Investment Focus Areas: Cybersecurity, cloud-native technologies, enterprise software.
- Notable Investments: Beyond Identity, Corelight, Abnormal Security.
What's Next for Chronosphere?
Chronosphere stands at the cusp of significant growth, driven by the increasing demand for cloud-native observability solutions. With a recent $115 million Series C extension, the company is well-positioned to expand its market reach and enhance its platform capabilities. The potential to disrupt legacy observability tools and deliver substantial cost savings to enterprises presents a vast opportunity for Chronosphere.
Future fundraising seems promising, given the strong investor confidence and the company's rapid growth. However, challenges such as intense competition and the need for continuous innovation could pose hurdles. Managing this growth effectively will be crucial for Chronosphere to maintain its competitive edge and customer satisfaction.
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