Netdata Extends Series A Funding to $31M to Democratize IT Infrastructure Monitoring with Community-centric, Open-source Approach
New Funding Follows Explosive Community Growth, Product Innovation, Key Executive Hires
SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ -- Netdata, the company behind the eponymous open-source, distributed, real-time, performance and health monitoring solution for systems and applications, today announced that it has completed a new round of financing totaling $14.2M led by Bessemer Venture Partners, with participation from existing investors Bain Capital Ventures and Uncorrelated Ventures, bringing its total raised in Series A to $31M. The investment will be used to accelerate research and development in support of Netdata's open, interoperable, and extensible monitoring and troubleshooting platform. The company also announced recent executive hires including Amy Abatangle, chief marketing officer, and Dimitris Protogirou, chief financial officer.
The funding extends Netdata's Series A round and builds on an exceptional year punctuated by the growing adoption of the open-source Netdata Agent and the introduction of the new Netdata Cloud software-as-a-service offering, a cloud-based console for infrastructure-wide monitoring, enabling teams to collaborate and work in parallel to streamline troubleshooting workflows, driving down incident response times.
Key features and benefits of the Netdata platform include:
- Visualizes unlimited, highly granular, real-time metrics optimized for anomaly detection
- Deploys easily with no preplanning and zero configuration, with autodetection of hundreds of turnkey integrations, enabling monitoring and troubleshooting of web servers, file systems, databases, containers, and more
- Runs seamlessly on physical or virtual servers, containers and IoT devices to collect per-second or per-event metrics with no limits on scalability thanks to its distributed data architecture
- Works autonomously to collect, store, visualize, check, stream, and archive data, or can be easily integrated into existing monitoring tool chains
Both the open-source Netdata Agent and the closed-source Netdata Cloud are offered free of charge.
Key milestones
- More than 5,000 new users added each day, with more than 3 million users total worldwide
- Nearly 50,000 GitHub stars
- Nearly a million Docker Hub downloads each day
- Fourth most starred projects in the Cloud Native Computing Foundation landscape
Supporting Quotes
"Netdata has experienced exponential growth by filling an unmet need: giving SREs, DevOps engineers, sysadmins, and developers a way to gain visibility into their infrastructure in minutes, with zero configuration, thousands of metrics, and milliseconds from data collection to visualization," said Costa Tsaousis, founder and chief executive officer of Netdata. "With nearly a million new Docker pulls every day, Netdata has proven to be the most useful tool in the troubleshooting arsenal of IT professionals who are often challenged by the cost, complexity, and limitations of existing monitoring solutions. This new investment will further our vision by enabling us to build upon our community momentum to deliver innovative solutions in both our open source project and future commercial products."
"Netdata's massive traction with the open source community is a result of several things: an extremely simple deployment, highly granular monitoring done in real-time, and a beautiful and simple UI that just works out-of-the-box," says Amit Karp, partner at Bessemer Venture Partners. "We are excited to join Netdata in their mission to radically simplify IT infrastructure monitoring and troubleshooting."
"The observability industry has some culturally ingrained faults, such as accepting 60-second or 10-second resolutions, accepting a handful of cherry-picked metrics in order to keep up with fire hoses of data from systems, accepting too much complexity rather than expecting appropriate intelligence about each metric, among many others," said Salil Deshpande, general partner at Bain-backed, infrastructure-software-focused firm Uncorrelated Ventures. "Netdata is transformative in the way it provides all metrics at 1-second granularity across a vast number of sources with zero configuration and highly intuitive, meaningful presentation."
Executive Hires
Amy Abatangle joined Netdata as CMO after most recently serving as CMO of Ericsson Edge Gravity. Amy is responsible for all go-to-market functions.
Dimitris Protogirou joined Netdata as CFO after spending the last fifteen years in CFO and CEO positions in SMEs within the telecommunications, pharmaceutical, and software sectors.
About Netdata
Netdata democratizes monitoring, empowering IT teams to know more about their infrastructure, enabling them to quickly identify and troubleshoot issues, collaborate to solve problems, and make data-driven decisions to move business forward. The free, open-source Netdata Agent gives teams comprehensive, real-time visibility into the full technology stack, yet is easy to install with no configuration necessary and no limits on scalability. Netdata Cloud brings teams and data together in one place to proactively identify, troubleshoot and resolve issues as soon as they are detected. Netdata is committed to a community-first approach, with hundreds of contributors, thousands of GitHub stargazers and millions of users worldwide. To learn more, visit Netdata.cloud.
About Bessemer Venture Partners
Bessemer Venture Partners is the world's most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has backed more than 120 IPOs, including Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, PagerDuty, SendGrid, DocuSign, Wix, and MindBody. Bessemer's 16 investing partners operate from offices in Silicon Valley, San Francisco, New York City, Boston, Israel, and India. Follow @BessemerVP and learn more at bvp.com.
About Uncorrelated Ventures
Bain-backed Uncorrelated Ventures was founded by Salil Deshpande to focus on open source and infrastructure software, both traditional and decentralized. Over 14 years as general partner and managing director at Bay Partners and Bain Capital, Salil invested $350M+ into 50+ companies early, including MuleSoft, DynaTrace, Buddy Media, SpringSource, Redis Labs, Jambool, Dropcam, Tealium, Sonatype, Frame, DataStax, Netdata, Quantum Metric, Philz Coffee, Upgrade and DeFi projects Compound and Maker. Salil was on the Forbes Midas List of the 100 best-performing venture investors worldwide in 2013, 2014, 2015, 2016, 2017, 2018, and 2019.
Contact:
Allison Arvanitis
[email protected]
SOURCE Netdata
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