Grafana Labs raises $270 million in funding
The open-source firm Grafana Labs, which probably powers a few operational dashboards at your company, has received the proceeds of a primary and secondary deal valued at approximately $270 million.
The proceeds of a primary and secondary transaction valued about $270 million have been distributed to Grafana Labs, the open-source startup that is likely responsible for powering a few operational dashboards at your organization. This is referred to by the business as a continuation of its $240 Series D round from 2022. Leading the extension was Lightspeed Venture Partners, an existing investment, with involvement from its institutional investors. The company's 2021 valuation was $3 billion; today, it is above $6 billion.
Grafana reported that it has over 5,000 paying clients, up from 2,000 in 2022, and has surpassed $250 million in yearly recurring revenue in addition to this latest investment event. "In the nearly ten years since Grafana Labs was founded, we've accomplished so much. Raj Dutt, CEO and co-founder of Grafana Labs, stated, "My co-founder Torkel Ödegaard's open source side project now has 20 million users worldwide and has become the foundation of a sustainable business and market leader in observability." Beyond the striking statistics, our ability to maintain our commitment to our heritage while broadening our sources of income is what makes me most proud. We think open source will triumph with the appropriate approach, and we're only getting started.
Grafana Labs is solely focused on assisting organizations in visualizing and analyzing data from their various infrastructure services, whether as a hosted service through Grafana Cloud or as a self-hosted solution through Grafana Enterprise. Grafana provides the capability to display a wide variety of data. These days, its offerings also include incident response and management software, user monitoring, and tracing systems for tracking application performance. "We were confident in the company's strategy when Lightspeed first invested in Grafana Labs' Series A in 2019," stated Lightspeed Venture Partners partner Gaurav Gupta.
"We were aware that open source enterprises were changing the story, moving from offering only free substitutes to releasing technology that is on par with or better than proprietary options. Nothing compares to Grafana's skills in operational dashboarding as an example of this transition. They've been constructing what is undoubtedly the best open source observability platform available and launching a ton of new products."
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