Observe, a San Mateo, CA-based SaaS observability company reinventing the way machine-generated data is stored, managed, and analyzed, has closed a $115 million Series B funding round.
Investors
The round was led by Sutter Hill Ventures with participation from existing investors Capital One Ventures and Madrona, as well as new investor Snowflake Ventures.
Founded in 1962, Sutter Hill Ventures is a venture capital investment firm based in Palo Alto, California, investing in the US. The firm prefers to invest in companies operating in the computer technology, healthcare, software, telecommunication, and consumer sectors.
Observe Use of Funds
The company plans to expand its market presence in North America over the coming year and anticipates doubling the size of its business.
About Observe
Observe is a company that offers an observability cloud solution to accelerate the transformation of troubleshooting applications and resolving incidents. Observe eliminates silos of logs, metrics, and traces by storing all data in a single, more cost-efficient data lake. The company's unique Data Graph technology enables users to troubleshoot distributed applications three times faster. Brands such as Capital One, Topgolf, and F5 trust Observe to turn their business data into actionable information.
Funding Details
Company: Observe, Inc.
Raised: $115.0M
Round: Series B
Funding Month: March 2024
Lead Investors: Sutter Hill Ventures
Additional Investors: Capital One Ventures, Snowflake Ventures
Company Website: https://www.observeinc.com/
Software Category: Observability