Honeycomb, a San Francisco, CA-based observability platform used by high-performing engineering teams to examine cloud application behavior, announced a $50 million Series D funding.
The round was led by Headline, with participation from other existing investors, including Insight Partners, Scale Venture Partners, NextWorld Capital, Storm Ventures, and Industry Ventures. This round brings the total capital raised to nearly $150 million.
The funding will propel Honeycomb's expansion across geographies, its contributions and significant support for OpenTelemetry, and efforts toward building a cohesive integration strategy across the entire software development ecosystem.
"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," said Christine Yen, CEO of Honeycomb. "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."
Honeycomb also chalked up recent key customer wins with Robinhood, Moov, Frasers Group, and Equinix, who all join a growing list of customers like Vanguard, Slack, and Vercel. In addition, Kelly Watkins, former VP of Global Marketing at Slack and CEO of Abstract, has joined the Board of Directors.
Company: Hound Technology, Inc.
Raised: $50.0M
Round: Series D
Funding Month: April 2023
Lead Investors: Headline
Additional Investors: Insight Partners, Scale Venture Partners, NextWorld Capital, Storm Ventures, and Industry Ventures
Company Website: https://www.honeycomb.io/
Software Category: Observability Software
About the Company: Founded in 2016, Honeycomb.io is a software company that provides observability for high-performing engineering teams so they can quickly understand what their code does in the hands of real users in unpredictable and highly complex cloud environments. The company's platform allows users to generate or visualize various metrics by querying the dataset, comparing trends, seeing summarized results in-line, and maintaining history, enabling engineers to deeply understand and debug production software together. Honeycomb is headquartered in San Francisco, California.
Source: https://www.prnewswire.com/in/news-releases/observability-market-creator-honeycomb-nabs-50m-in-rare-series-d-funding-as-economy-fuels-its-growth-301791728.html