Total amount raised
$307 Millions
Latest funding date
Location
Observe has successfully raised $145 million over two funding rounds, with the latest being a Series B. The company is backed by notable investors, including Snowflake Ventures and Sutter Hill Ventures.
Keep reading to explore the intricacies of Observe's fundraising journey and the investors backing this innovative platform.
What Is Observe?
Observe, founded in September 2017, is based in San Mateo, California. The company specializes in observability solutions, aiming to revolutionize the storage, management, and analysis of business data.
Founded by Jacob Leverich, Jon Watte, Jonathan Trevor, Mike Speiser, and Philipp Unterbrunner, Observe consolidates logs, metrics, and traces into a unified data lake. This approach allows for faster diagnosis of issues in distributed applications.
With a team of 101-250 employees, Observe continues to innovate in the field of observability, providing tools that enhance the troubleshooting and incident resolution processes for businesses.
How Much Funding Has Observe Raised?
- Series A
- Amount Raised: $35M
- Date: October 2020
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial growth and development of its observability platform.
- Venture Round
- Amount Raised: $7M
- Date: June 2021
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's capabilities and market reach.
- Series A
- Amount Raised: $70M
- Date: May 2022
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance product features.
- Series A
- Amount Raised: $50M
- Date: October 2023
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch and development of Hubble, a new product with generative AI features.
- Series B
- Amount Raised: $145M
- Date: March 2024
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the platform's capabilities.
Total Amount Raised: $307M. Current Valuation: Not publicly disclosed.
Key Investors
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm that has been a significant investor in Observe, leading multiple funding rounds. Mike Speiser, the managing partner, has praised Observe's unique approach to observability and its progress over the past year.
- Investment Focus Areas: SaaS, observability, innovative technology companies
- Notable Investments: Observe
- Madrona
- Details: Madrona is a venture capital firm that has invested in Observe, particularly in the Series A and venture rounds. The firm is known for supporting early-stage technology companies.
- Investment Focus Areas: Cloud computing, machine learning, SaaS
- Notable Investments: Not explicitly detailed in the provided sources
- Snowflake Ventures
- Details: Snowflake Ventures is the investment arm of Snowflake Inc., focusing on companies that leverage Snowflake's data cloud. They have invested in Observe to support its growth and technological advancements.
- Investment Focus Areas: Data cloud, analytics, SaaS
- Notable Investments: Not explicitly detailed in the provided sources
What's Next for Observe?
Observe is poised to capitalize on the growing demand for advanced observability solutions. With the launch of Hubble, featuring generative AI tools, the company is well-positioned to address the increasing complexity of IT infrastructures. The market for observability tools is projected to grow significantly, offering a vast opportunity for Observe to expand its product offerings and customer base.
Future fundraising opportunities appear promising, given the company's successful funding rounds and the positive outlook from investors. As Observe continues to innovate and enhance its platform, additional investment rounds could support further growth and development. However, the company may face challenges such as competition from established players and the need to manage the increasing volume of telemetry data efficiently.
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