On May 24, 2022, Cribl, a data observability platform utilized by companies like Accenture, Domino’s, and 7-Eleven, raised US$150 million in a Series D round of funding.
The hike comes as remote work has become a semi-permanent way of life for millions of employees around the world, and a “decentralized” workforce can make managing IT systems and data scattered across various locations more difficult for businesses.
Tiger Global Management led Cribl’s series D financing, which included Sequoia, Greylock, Redpoint Ventures, IVP, and CRV.
What the founder has to say:
Clint Sharp, Cribl’s co-founder and CEO:
“Enterprises lack a simplified means to make use of all that data, and the cost of attempting to do so is crushing them.
Whether you’re a bank or a store, software applications are now the primary method businesses communicate with their consumers, and if you don’t give a terrific experience on those apps, your customers will go elsewhere.
A common complaint we hear from our IT and security customers is that they use a variety of tools across their activities, with data flowing between them all, but there is no one point of management. This adds to the complexity and wastes a lot of money. By design, Cribl’s products are open and interoperable, allowing businesses to connect different portions of the data ecosystem and gain control over all event data that passes through their corporate IT systems.”
About the company:
Cribl was founded in 2017 in San Francisco and currently offers four primary products: AppScope, Cribl. Cloud, Cribl Edge, and Cribl Stream which is described as a “observability pipeline” for delivering observability data between any source and destination.
Cribl has previously Raised US $252 million, and with an additional $150 million in the bank, the firm is well-funded to develop Cribl Search and prepare it for the public debut – the product is now available in private beta as part of an early access program.
Cribl’s latest series D investment now values the company at US $2.5 billion, according to a person close to the deal, up from the US $1 billion valuations it announced in its US $200 million series C round less than a year ago.
With the current tranche, Cribl has raised a total of US $400 million. The company now employs 350 employees, with aspirations to grow to roughly 500 by 2022.
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