OBSERVE INC SECURES $70M IN NEW FUNDING

3X Increase in Customers and 5X Increase in Monthly Active Users Over Past 12 Months

News Summary:

• Observe, Inc. has raised $70M of Series A-2 funding from Sutter Hill Ventures (SHV), Capital One Ventures, and Madrona Ventures.
• Observe Has Reached Almost 50 Paying Customers, Increasing Customers By 3x And MAUs By 5x In The Past 12 Months.
• Observe Ingests 40TB Of Data Per Day, Executes 25M Queries Per Day Scanning Almost 1 Trillion Rows On Over a Petabyte Of Data.
• New Product Updates Include
  ○   Data Universe Maps Providing Rich Visualization Of Observability Data And Relationships ○   Context-Sensitive Dashboards Which Enable Users To Drill Down Into Related Content And Begin Investigations
  ○   "Out-Of-The-Box" Apps For Kubernetes, AWS, Jenkins & More So Users Can Get Started & Enjoy Pre-Build Content In Minutes
  ○   In-Product Dashboards Providing Full Transparency Into Observe Credit Usage
• New "Practical Observability" Course at https://academy.o11y.io/
• To View Today's Live Launch Event Visit https://t.co/24GXecY8ff
  Streaming Starts At 10 am (PST).

SAN MATEO, Calif., May 11, 2022 /PRNewswire/ -- Today Observe, Inc., the SaaS Observability Company, announced new Series A-2 funding totaling approximately $70M from Sutter Hill Ventures (SHV), Capital One Ventures, and Madrona Ventures, bringing total funding to date to $114.5M. In addition, Observe announced that it has expanded its customer base over 3x and its monthly active users (MAUs) over 5x in the past twelve months. Customers now send Observe over 40TB of data each day. Users then execute over 25M queries each day, scanning almost one trillion rows on over 10PB of data.

Fundamental to Observe's unique approach to Observability is the ability to transform machine-generated data into a graph of related datasets that users understand such as Customers, Shopping Carts, Pods, and Containers.

"We're delighted to continue to partner with our existing investors–Sutter Hill Ventures and Madrona Ventures–and welcome Capital One Ventures in this latest funding announcement," said Jeremy Burton, CEO of Observe, "Observe has taken a unique, data-centric, approach to Observability and is starting to deliver tangible business and cost benefits for almost 50 customers."

Observe is tackling a huge problem that Site Reliability Engineers face organizing and visualizing data from distributed sources to detect and resolve system stability issues," said Jaidev Shergill, managing partner at Capital One Ventures."Observe's technical approach, leadership team, and traction make the company one of the category leaders." 

Today Observe also announced new product capabilities enabling the exploration of "Data Universe Maps" – rich visualizations of all the datasets Observe manages and the relationships between them.

In addition, Observe introduced new context-sensitive dashboards which not only provide users with a single-pane-of-glass to view the overall health of their system but allow drill down into underlying event data to begin an investigation.

To make it easier for users to get started, Observe introduced several new pre-built "Apps" for Kubernetes, AWS & Jenkins, with GCP and Azure coming later this year. Observe Apps make it easy for users to hook up their data to Observe and also feature pre-built dashboards and alerts so that users can become productive within minutes.

Finally, Observe also introduced new dashboards within the product which give full transparency into its unique, usage-based, pricing model. Admins can now see exactly how many Observe credits were consumed each day, by which users, and even view the datasets and monitors responsible for the most consumption. This level of transparency builds trust in Observe and allows admins to more effectively manage a budget.

"Enterprises and scaleups are looking for better out-of-the-box observability experiences from vendors, with built-in integration for common infrastructure platforms, and a transparent cost model," said James Governor, Principal Analyst and co-founder at RedMonk. "With its latest release, Observe is responding to these requirements with Observe Apps and better insights into usage-based costs."

"The value-driven and outcome-focused approach that Observe has taken in the development of their product has enabled Saviynt to quickly gain insights and enabled us to improve our platform", said Wayne Watson, VP Cloud Operations at Saviyint

In addition to today's funding and product announcements, Observe also introduced "Practical Observability" – an online course produced by Knox Lively, recovering DevOps Engineer, and Lead Tech Evangelist at Observe. Practical Observability is free and aimed at clearing up the confusion around what observability is, why it's important, and the tools you'll need along the way. You can enroll today at https://academy.o11y.io/.

Background
Observe was founded in 2017 by SHV and recruited a world-class founding team with deep experience dealing with vast quantities of data. Jacob Leverich joined the team from Splunk, Jonathan Trevor from Wavefront, Jon Watte from Roblox, and Philip Unterbrunner from Snowflake – via Facebook.  More recently, Observe began building out its executive team through Jeremy Burton, who joined as CEO in 2018 from Dell Technologies, and Keith Butler, who joined as CRO from Perfecto in 2020.

Observe is focused on a new segment of the market called Observability which promises to supplant the $20B+ market for log analytics, infrastructure monitoring, and application performance management.

Observe is currently offering users free trials, please go to http://www.observeinc.com to register.

Interact with Observe Online:

• Connect with Observe onTwitter andLinkedIn
• Read more about Observe on ourCompany Blog
• We are hiring! For job opportunities, go to: https://ObserveInc.com/Careers

About Observe
Observe is the SaaS observability company that has long believed that almost all businesses are data-rich and information poor. Observe's vision is to turn the world's business data into information.

Media Contact:
Ross Lazerowitz
[email protected]

SOURCE Observe Inc