Total amount raised
$51 Millions
Latest funding date
06/01/2022
Location
LogRocket has successfully raised significant funding over multiple rounds, attracting attention from prominent investors. The platform offers session replay, product analytics, and error tracking solutions.
Keep reading to explore the intricacies of LogRocket's fundraising journey and the investors backing this innovative platform.
What Is LogRocket?
LogRocket, founded in 2016, is headquartered in Boston, MA. The company was established by Ben Edelstein and Matthew Arbesfeld.
LogRocket specializes in session replay, product analytics, and error tracking, helping businesses understand and resolve user issues. Their platform offers AI-first solutions to identify and quantify technical and UX problems.
With a growing team, LogRocket continues to innovate and expand its offerings, making it a valuable tool for developers and product teams worldwide.
How Much Funding Has LogRocket Raised?
- Seed Round
- Amount Raised: $4 million
- Lead Investors: Matrix Partners
- Motivation Behind the Round: Initial funding to develop the product and start the company.
- Series A Round
- Amount Raised: $11 million
- Date: March 21, 2019
- Lead Investors: Battery Ventures
- Motivation Behind the Round: To expand their sales and marketing efforts, reach a broader audience, and build a mature sales and marketing organization.
- Series B Round
- Amount Raised: $15 million
- Date: November 7, 2019
- Lead Investors: Battery Ventures
- Motivation Behind the Round: To be well-capitalized as the company grows and begins working with larger customers. The funds will be used for engineering, sales, marketing, and hiring more data scientists to build additional features like LogRocket Metrics.
- Series C Round
- Amount Raised: $25 million
- Date: June 21, 2022
- Lead Investors: Delta-V Capital and Battery Ventures
- Motivation Behind the Round: The proceeds will be used for research and development (R&D) and to expand the team from 130 to roughly 180 people by the end of the year.
Total Amount Raised: $55 million. Current Valuation: Not publicly disclosed.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a venture capital firm that invests in technology-driven companies across various stages of growth. They have a history of supporting innovative startups and established businesses alike.
- Investment Focus Areas: Software, IT infrastructure, industrial technology
- Notable Investments: Nutanix, Coupa Software, Glassdoor
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies across various sectors. They have a strong track record of helping startups scale and succeed.
- Investment Focus Areas: Enterprise software, consumer technology, healthcare
- Notable Investments: HubSpot, Zendesk, Oculus
- Delta-V Capital
- Details: Delta-V Capital is a growth equity firm that focuses on investing in high-growth technology companies. They provide both capital and strategic support to their portfolio companies.
- Investment Focus Areas: Technology, software, digital media
- Notable Investments: Not publicly disclosed
What's Next for LogRocket?
LogRocket is poised to capitalize on the burgeoning app analytics market, projected to reach $3.6 billion by 2026. With plans to expand its team and invest in R&D, the company aims to enhance its offerings, including mobile app monitoring and machine learning-driven Conditional Recording. These advancements could significantly boost user engagement and customer satisfaction.
Given the competitive landscape, LogRocket may seek additional funding to maintain its growth trajectory and stay ahead of rivals like FullStory and Quantum Metric. However, challenges such as ensuring the accuracy of new features and managing operational costs could pose hurdles. Navigating these obstacles will be crucial for LogRocket's continued success.
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