California, USA-based provider of observability platform used by high-performing engineering teams to investigate the behaviour of cloud applications, HoneyComb raised USD 50 million in Series D. The round took place on April 6, 2023. Headline led the financing for the company. Meanwhile, existing investors, including Insight Partners and Scale Venture Partners, joined in the funding. Customer angel investments from HelloFresh CEO Dominik Richter and Vercel CEO Guillermo Rauch also participated in Series D.
So far, the company’s total financing stands at USD 150 million. As part of the deal, Kelly Watkins, former VP of Global Marketing at Slack and CEO of Abstract, joins the Board of Directors.
Purpose of financing for HoneyComb
With the latest capital injection from Series D, HoneyComb seeks to fund its expansion across geographies. It also intends to propel its contribution and significant support for OpenTelemetry, and efforts toward building a cohesive integration strategy across the entire software development ecosystem.
What the company’s officials have to say
Christine Yen, CEO of Honeycomb, further added, “High-performance engineering teams need accessible, intuitive observability workflows. While our competition is busy rearchitecting their data stores, we’re once again leading the pack by delivering innovative, developer-centric features that scale the power of knowledge across teams. Too often, a prospect using a traditional APM tool comes through our door after being slapped with surprise overage bills or frustrations regarding incident visibility. Organizations should never be subjected to gaps in visibility just to save on cost—Honeycomb makes good on that promise.”
What the investors have to say
Thomas Gieselmann, Founding Partner at Headline, said, “Software is the genetic makeup of our modern global society. We rely on it for everything—so if your apps and services aren’t performing how they were intended to, users will leave them to find ones that work. This makes the mission and value that Honeycomb’s observability platform provides to engineering teams business-critical. We couldn’t be more thrilled to help them scale to win big on a global level.”
What the RedMonk official has to add
James Governor, the co-founder of RedMonk, said, Delivering effective observability is now a strategic imperative for software teams in all industry sectors. Honeycomb created the category by relentlessly focusing on establishing a better model and platform for managing and troubleshooting modern distributed systems, by engineers, for engineers.”
About HoneyComb
Charity Majors and Christine Yen launched the company in 2016. Customers such as HelloFresh, Stripe, Slack, Fender, Vanguard, LaunchDarkly, and much more use the company’s platform. It provides customers with fast incident response, performance optimization, and safely accelerating release cycles.
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