Total amount raised
$51 Millions
Latest funding date
6/1/2022
Location
LogRocket has successfully raised significant funding across multiple rounds, attracting notable investors such as Battery Ventures and Delta-v Capital. The platform offers a comprehensive suite of tools for session replay, product analytics, and error tracking, aimed at optimizing user experiences on web and mobile applications.
Keep reading to delve into the details of LogRocket's funding journey and discover the key investors backing this innovative platform.
What Is LogRocket?
LogRocket, founded in 2016, is based in Boston, Massachusetts. The company was established by Ben Edelstein and Matthew Arbesfeld. It employs between 101 and 250 people.
LogRocket specializes in frontend monitoring and product analytics, offering tools for session replay, error tracking, and user experience analytics. These tools help developers capture detailed experience data, identify UX problems, and optimize app performance.
By recording user sessions with logs and network data, LogRocket enables product teams to develop better user experiences and quickly pinpoint the root causes of bugs.
How Much Funding Has LogRocket Raised?
- Seed Round
- Amount Raised: $4M
- Date: August 2017
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $11M
- Date: March 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product features and scale the customer base.
- Series B
- Amount Raised: $15M
- Date: November 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance machine learning capabilities and grow the team.
- Series C
- Amount Raised: $25M
- Date: June 2022
- Lead Investors: Battery Ventures, Delta-v Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in machine learning-based insights and expand the enterprise customer base.
Total amount raised: $55M. Current valuation: Not publicly disclosed.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They have been investing in technology-driven companies since 1983.
- Investment Focus Areas: Software, IT infrastructure, industrial technology.
- Notable Investments: MongoDB, Nutanix, Coupa Software.
- Delta-v Capital
- Details: Delta-v Capital is a growth equity firm that invests in technology companies. They focus on companies at the growth stage.
- Investment Focus Areas: Software, data, technology-enabled services.
- Notable Investments: Cloud Elements, LogRhythm, Zayo Group.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies. They have been supporting entrepreneurs since 1977.
- Investment Focus Areas: Software, enterprise technology, consumer technology.
- Notable Investments: HubSpot, Zendesk, Oculus.
What's Next for LogRocket?
LogRocket's future looks promising with the launch of Conditional Recording, a feature designed to capture only the most relevant user sessions. This innovation, combined with the expansion of their machine learning capabilities, positions LogRocket to significantly enhance digital experience analytics. The company aims to double its monitored sessions to over 3.5 billion in 2022, reflecting the growing demand for actionable insights in a digital-first world.
With the recent $25 million Series C funding, LogRocket is well-equipped to scale its operations and continue innovating. The focus on enterprise customers and the potential for future fundraising rounds suggest a robust growth trajectory. However, challenges such as managing data storage costs and maintaining competitive edge in a rapidly evolving market will require strategic planning and execution.
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