Chronosphere raises additional $115m for cloud observability platform

Chronosphere, a US-based cloud observability platform provider, has secured an additional $115 million Series C funding, to take its total funding to $343 million, and snowballing its valuation to $1.6 billion.

The company anticipates to use the proceeds from the round to support its continued innovation and market strategy for its cloud-native observability platform.

The round was led by new investors GV, formerly Google Ventures, and Geodesic Capital, with participation from the existing investors Addition, General Atlantic, Founders Fund, Glynn Capital, Greylock, and Lux Capital.

Martin Mao – Chronosphere CEO and co-founder said: “This funding underscores the crucial market need for powerful cloud native observability solutions to generate positive business outcomes–especially critical now as companies seek more efficient and effective ways to improve customer experiences.

“We plan to use this latest investment to bring our forward-looking observability solution to the broader market as we continue to disrupt legacy solutions that provide too little, too late for too much cost.”

Chronosphere’s cloud native observability platform allows businesses to transform their data based on the need, context, and use to improve costs.

The company’s customers include DoorDash, Visa, Zillow, Robinhood, Snap, Obsidian Security, and Astronomer.

Sangeen Zeb — GV Partner said: “In a cloud native world where businesses are looking for both efficiency and effectiveness, there’s a dire need for organizations to get observability right.

“Chronosphere has cracked the code to tame the data deluge in complex environments and provides better tools that quickly sift through the most meaningful data for better customer experiences and business outcomes.”

Last year, Chronosphere secured $228 million, including a $200 million Series C round in October 2021 that valued the cloud observability platform provider at $1 billion.