The company behind the popular Grafana visualization tools has raised a $240 million Series D round. The round was led by GIC, Singapore's sovereign wealth fund, with participation from new investor J.P. Morgan and existing investors.
The company raised a total of $540 million, including its $220 million Series C last August. When it raised its Series C, the company said its valuation was $3 billion.
The company says there are 10 million global users. Over the last six years, the adoption of the service has increased by 25x and it now has over 2,000 paying customers.
While it's best known for its open-source visualization tools and dashboards, it now also offers logging tools, tracing tools, and Mimir for metrics, its most recent product launch.
The observability stack delivered by Grafana Labs is well-known and adopted. Detailed analysis on the broader market, vendor landscape, and customer input were some of the things we were able to draw on in evaluating Grafana Labs as an investment opportunity. It is clear that customers and prospects see both short-term and long-term success working with Grafana Labs and we are happy to enable them to continue to grow and scale.
Like similar open source companies, Grafana monetizes its tools by offering a number of fully managed services with a subscription plan, as well as a self-managed enterprise stack.
Our plans are simple: aggressively deliver on our product roadmap and our commitment to embracing the big tent, enabling our users to compose and visualize data from any source, while continuing to build out modern observability capabilities across metrics.
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