Tuesday, 1st December 2020

SignalFx raises $75 million

SignalFx, a leader in real-time cloud monitoring and observability for infrastructure, microservices, and applications, has raised $75 million in Series E funding led by Tiger Global Management with participation from existing investors. The primary equity financing brings total funding raised to $179 million and will accelerate product development and the company’s rapid global expansion.

SignalFx’s growth comes as organizations have increasingly turned to cloud-native technologies such as microservices, containers, Kubernetes and serverless functions to speed their rate of innovation. SignalFx’s annual revenues have increased by a compound annual growth rate of 170 percent since sales began in 2015 as traditional monitoring tools have failed to keep pace with new requirements for speed, scale and automation. According to Gartner, by 2022, more than 75 percent of global organizations will be running containerized applications in production, up from fewer than 30 percent today.

SignalFx’s customer list has grown to include hundreds of market-leading brands in an array of industry verticals and geographies, from ecommerce, retail, transportation, enterprise, and technology to finance, consumer products, and health care. Customers include both high-tech organizations born in the cloud, such as Acquia, Carbon Black, Cloudreach, Freecharge, HubSpot, Kayak, Namely, Rappi, Shutterfly, Square, and Yelp, as well as traditional enterprises investing in digital transformation, such as Amtrak, athenahealth, Lululemon, NBCUniversal, and the Warehouse Group.

“The addition of Tiger Global Management to our team comes at an important time for SignalFx,” said Karthik Rau, CEO, SignalFx. “SignalFx is at an inflection point in its growth as organizations are investing aggressively in their cloud and digital transformation initiatives and reevaluating their systems management and monitoring strategies. The additional capital from this financing allows us to invest even more in our industry-leading products while also extending our go-to-market reach to more organizations around the world.”

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