Grafana Labs, the United States open source technology provider for dashboards and visualization, announced Wednesday a $240 million Series D round of investment led by GIC, Singapore’s sovereign wealth fund.
GIC made its initial investment in Grafana Labs’ Series B round in 2020, according to a statement issued by Grafana Labs.
“Grafana Labs is a strong, product-led company that has built a committed customer base and has significant adoption. We are enthusiastic to lead the round, particularly as we’ve witnessed Grafana Labs’ ability to translate a portion of their free adoption into consistent business results. We see significant global interest in Grafana Labs’ products and look forward to leveraging GIC’s network to support the company’s global growth ambitions and drive deeper relationships in Asia Pacific (APAC) over the long term,” said Choo Yong Cheen, GIC’s Chief Investment Officer for Private Equity.
The round also saw the participation from new investor J.P. Morgan. All other existing investors Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital, also participated in this round, just seven months after the company’s Series C.
“Grafana Labs delivers a well-known and adopted observability stack. In evaluating Grafana Labs as an investment opportunity, we were able to draw on our relationship, along with detailed analysis on the broader market, vendor landscape, and customer input. It’s clear that customers and prospects see both short-term and long-term success working with Grafana Labs and, with our investment, we are happy to enable Grafana Labs to continue to grow and scale,” said Elena Zislin, Managing Director, J.P. Morgan.
With this round of investment, Grafana Labs Chief Executive Officer and Co-Founder Raj Dutt said, “Our plans are simple: aggressively deliver on our product roadmap and our commitment to embracing the big tent — enabling our users to compose and visualize data from any source — while continuing to build out modern observability capabilities across metrics, logs, tracing, and more. We are committed to the continual release of impactful open source software, bringing many new capabilities to market, and constantly listening to the community and our customers to drive innovation.”
Grafana Labs provides an open and composable monitoring and observability stack built around Grafana, an open source technology for dashboards and visualization. According to the statement, worldwide adoption of Grafana has increased 25 times in the past six years, and today there are more than 900,000 active installations and 10 million global users.
Grafana Labs has also launched a full slate of open source observability projects, including Grafana Loki (for logging), Grafana Tempo (for traces), and most recently, Grafana Mimir (for metrics). Grafana Mimir represents a significant ongoing investment and commitment to deliver the world’s most highly performant, horizontally scaling time series database backend; Mimir has already been tested and hardened in production to support more than one billion active series. At the heart of the Grafana observability stack are the popular dashboards that are interoperable with any number of disparate data sources, enabling users of the Grafana platform to visualize anything they want and control their own observability strategy.
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