Wavefront raises $52 million for metrics-based monitoring platform
Data center monitoring provider Wavefront Inc. raised a huge $52 million series B funding round, bringing its total investment to $65.5 million and setting the stage for global expansion.
Tenaya Capital joined previous investors Sequoia Capital Operations LLC, Sutter Hill Ventures and others in the round, which comes just eight months after Wavefront’s previous $11.5 million A round. The company said its valuation has quadrupled since February, but it wouldn’t specify a number.
Wavefront provides a cloud-based monitoring service designed for use by software-as-a-service companies, which place a premium on availability and performance. Customers include Workday Inc., Box Inc., Lyft Inc., Microsoft Corp., Intuit Inc., British Gas Services Ltd. and Edmunds.com Inc.
The service differs from those offered by legacy systems management companies such as IBM Corp. and BMC Software Inc. by taking an anlytics-based approach that account for the increasing complexity of information technology environments driven by virtualization, containers, application program interfaces and microservices. It ingests data from sources such as servers, network devices and applications and enable users to perform complicated queries against it.
“The stack has been blow up in favor of a graph of nodes, microservices and APIs,” said Dev Nag, Wavefront’s founder and chief technology officer. “Another big trend is the convergence of development and operations. The environments have gotten a lot more complex to manage.”
Wavefront takes a metrics-based approach to monitoring, using its own database and a customized query language that’s similar to Excel’s macro language. Customers either send log data to Wavefront for analysis or connect the service to their devices and applications via plugins. Wavefront has developed more than 30 data plugins to ingest metrics across leading application, cloud and infrastructure sources.
Users can visualize and query a wide range of metrics ranging from cloud computing loads to application and business performance data. The systems can process millions of data points per second and perform real-time alerts on streaming data. Recent enhancements include intelligent alerting, expanded query functions, quick-start configuration wizards and a suite of default dashboards.
The service is designed to be used by developers, who are increasingly expected to handle their own provisioning and monitoring needs. “You need your developers to handle operations these days because the operations guys can’t keep up any more” with complex environments, Nag said.
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