SignalFx Raises $45 Million in Series D Funding

Industry Leader in Streaming Operational Intelligence Will Use Funds to Accelerate Product Innovation and Continue Market Expansion

SAN MATEO, Calif., May 22, 2018 (GLOBE NEWSWIRE) -- SignalFx, the leader in streaming operational intelligence for data-driven DevOps, today announced $45 million in Series D funding led by General Catalyst with participation from existing investors Andreessen Horowitz and Charles River Ventures. This round brings total funding for SignalFx to $103.5 million since its founding in 2013.

As the only platform delivering a consolidated real-time view of infrastructure, services, applications, containers, and functions, SignalFx has gained the trust of the world’s leading brands across a range of industry verticals from hi-tech, financial services, media and telecommunications, to retail, healthcare, manufacturing, and consumer products. A few notable customers include athenahealth, Ellie Mae, HubSpot, Kayak, Shutterfly, Square, and Yelp.

“We are enormously excited to welcome General Catalyst to our team,” says Karthik Rau, CEO and co-founder of SignalFx. “Our industry is at a critical inflection point as the vast majority of existing systems management solutions are ill equipped to handle the software architectures and delivery models that every company now aspires towards. In the past three years, we’ve been privileged to partner with over a hundred enterprises across many industry verticals to accelerate their journey to cloud-native. With the additional Series D funding, we plan to accelerate our efforts across both product development and go-to-market to enable thousands more to make the journey to cloud-native as seamless as possible.”

“As more enterprises are employing dynamic components like microservices, containers and serverless environments, organizations increasingly need a new breed of tool that can monitor the large volumes of operations data being generated,” said Nancy Gohring, Senior Analyst at 451 Research. “With its ability to scale very large and return analytics quickly, SignalFx is well positioned to meet the monitoring needs of modern application environments.”  

Over the past year, SignalFx has dramatically grown its business and completed market-leading product innovations in unprecedented ways.

  • Revenues continue to triple year over year as has been the case since SignalFx first began selling in 2015.
  • The company doubled its employee base in the past year, while expanding its global coverage to include EMEA and Australia.
  • Nearly 100 new product features and upgraded integrations were added in the past 12 months, including many enterprise-friendly capabilities like team dashboards, centralized control over data ingest, and dashboard permissions.
  • SignalFx is now fully integrated with and provides comprehensive visibility into the three top public cloud providers – Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform – as well as leading private cloud platforms OpenStack, and Pivotal Cloud Foundry.
  • Support has been fully enabled for a wide range of leading edge, cloud-native technologies, such as Kubernetes, Docker, AWS Lambda, and Azure Functions.
  • The ease with which users can get full-stack visibility has been dramatically enhanced with the release of the SignalFx Smart Agent, which once installed, automatically discovers services running on hosts and containers.
  • With new upgrades to its metadata streaming path, SignalFx can now include metrics from newly instantiated containers, hosts or other metric sources in charts and alerts within seconds, guaranteeing up-to-date visibility and awareness of potential issues. 
  • SignalFx has continued to push the boundaries on the scalability of its massively parallel streaming analytics engine, users are now able to instantly understand patterns and trends across hundreds of thousands of components. 
  • Six patents have been granted for SignalFx’s unique streaming architecture.

In conjunction with the funding, SignalFx announced the appointment of Dr. Stephen Herrod, general partner at General Catalyst and former CTO of VMware, to the Company’s board of directors. He joins Ben Horowitz, general partner at Andreessen Horowitz, Devdutt Yellurkar, general partner at Charles River Ventures, and SignalFx co-founders Phil Liu, and co-founder/CEO Karthik Rau.

Prior to its current funding, SignalFx raised $58.5 million in its Series A, B and C rounds from Andreessen Horowitz and Charles River Ventures.

Supporting Quotes

“The momentum behind SignalFx is impressive. We're seeing more and more forward-thinking companies standardizing on it for monitoring their key applications and infrastructure," said Dr. Stephen Herrod of General Catalyst. “SignalFx's scalability and real-time alerting are exactly what today's fast-moving businesses require as they embrace DevOps and move towards cloud-native applications.”

“In my career, I’ve met with thousands of executives whose teams were facing challenges adapting to the shifting technology landscape of modern software applications and microservices. More and more organizations are turning to SignalFx to leverage streaming operational intelligence to keep up with this rapid pace of innovation,” said Mark Cranney, CCO at SignalFx. “While others might say they’re real-time, SignalFx is the only company that brings enterprises the operational intelligence they need at hyper scale and in real real-time.”

About SignalFx
SignalFx is the leader in streaming operational intelligence for data-driven DevOps. The platform discovers and collects metrics across every component in the cloud, replacing traditional point tools and providing real-time visibility into today’s dynamic environments. The massively scalable SignalFx architecture is optimized for container and microservices-based architectures and provides powerful visualization, proactive alerting, and collaborative triage capabilities for organizations of all sizes. SignalFx is used by Fortune 500 enterprises across financial services, apparel, industrials, telecommunications, media, and by web-scale players like Yelp, HubSpot, Shutterfly, Square, and Kayak. SignalFx is venture-funded by Andreessen Horowitz, Charles River Ventures, and General Catalyst.

Media Contacts:
Allison DeLeo
Racepoint Global for SignalFx
Phone: +1 (415) 694-6700