Nine-figure funding rounds are not unheard of in the infrastructure monitoring space, but it’s been a while since investors felt confident enough to make such a large bet. LogicMonitor Inc.’s newly announced completion of a $130 million funding round indicates that the flow of venture capital into the segment is starting to pick up again.

The financing came entirely from the growth equity arm of Providence Equity Partners LLC, a Rhode Island-based investment firm with $45 billion in assets under management. It’s unusual for a single backer to put up such a large sum, but then again LogicMonitor isn’t the average cloud-based monitoring provider, either. The company still has some cash left over from its previous $21 million round in 2012 while its rivals are rapidly burning through capital as part of their efforts to increase sales. Chief executive Kevin McGibben told Business Insider that he’s managed to achieve this financial stability while nearly doubling recurring annual revenues every year.

LogicMonitor’s namesake service has proven popular not only among everyday enterprises such as JetBlue Airways Corp. and Pacific Life Insurance Co. but also in the service provider space, where it’s used by more than half a dozen vendors. Much the credit for the offering’s appeal goes to its ease-of-use. All an administrator has to do is download a lightweight Java client to a local machine, connect it to the startup’s remote cloud environment and let the built-in data collection mechanism do the rest. LogicMonitor can start aggregating logs without requiring users to set up any on-premise agents or even so much as perform manual device discovery.

Once they’re in the startup’s cloud, it’s possible to visualize the records in graphical dashboards using some 600 pre-packaged customization modules. A company’s networking team might configure LogicMonitor to display latency statistics, while their peers over on the server side could have the service display performance data about important workloads. It also provides the ability to create high-level reports for executives interested in tracking their IT operations from afar.

Today’s investment will enable LogicMonitor to expand the functionality and launch additional services that CEO Kevin McGibben said are already in advanced stages of development. Moreover, the startup also plans to step up its go-to-market efforts in conjunction with an eye towards international expansion.

Image via LogicMonitor