Grafana Labs, the open-source firm that most likely powers at the least just a few operational dashboards in your organization, at the moment introduced the completion of a major and secondary transaction price about $270 million, with the proceeds going to the corporate and a few of its stockholders. The corporate describes this as an extension to its $240 Sequence D spherical in 2022. The extension was led by current investor Lightspeed Enterprise Companions, with participation from its current institutional traders.
The corporate is now valued at over $6 billion, up from $3 billion in 2022.
Along with this new funding occasion, Grafana additionally introduced that it has now moved previous $250 million in annual recurring income and has over 5,000 paying prospects, up from 2,000 in 2022.
“We’ve accomplished so much in the almost 10 years since Grafana Labs was established. The open source side project my co-founder Torkel Ödegaard created now has 20 million users worldwide and has become the foundation of a sustainable business and market leader in observability,” stated Grafana Labs CEO and co-founder Raj Dutt. “Beyond the impressive numbers, what I’m most proud of is that we have stayed true to our roots, while diversifying our revenue sources. We believe with the right strategy, open source will win and we’re just getting started.”
Whereas Grafana gives the flexibility to visualise every kind of knowledge, Grafana Labs is squarely centered on serving to enterprises visualize and analyze information from their varied infrastructure companies, both as a hosted service by means of Grafana Cloud or self-hosted by means of Grafana Enterprise. Its merchandise today additionally embrace tracing programs for monitoring software efficiency, person monitoring, and incident response and administration tooling.
“When Lightspeed first invested in Grafana Labs’ Series A in 2019, we were confident in the company’s strategy,” stated Gaurav Gupta, companion at Lightspeed Enterprise Companions. “We knew that open source companies were rewriting the narrative, transitioning from merely free alternatives to releasing technology that rivals or surpasses proprietary solutions. Grafana exemplifies this shift—there’s nothing that compares to their capabilities in operational dashboarding. They’ve been on a tear releasing so many new products and building what clearly is the strongest open source observability platform in the market.”
