Observe Announces $115 Million In Series B Financing
SAN MATEO, Calif., March 27, 2024 /PRNewswire/ -- Observe, Inc. the SaaS observability company reinventing the way machine-generated data is stored, managed and analyzed, today announced the Company has closed a Series B funding round of $115 million led by Sutter Hill Ventures with participation from existing investors Capital One Ventures and Madrona and new investor Snowflake Ventures.
- The Series B funding, raised at a valuation 10x higher than the company's Series A round four years ago, promises to further accelerate Observe's growth.
- Observe's headcount increased more than 50% and the company is scaling its sales organization as many tech companies pull back.
- "Legacy monitoring and APM players, shackled by outdated architectures, are dead companies walking," said Jeremy Burton, CEO at Observe.
- "We believe Observe is the future of Observability and we're incredibly excited to lead the Series B round," said Mike Speiser, Managing Director at Sutter Hill Ventures.