Happy AWS re:Invent 2023! The Chronosphere team has officially made it to the show floor to kick off the first event day in the endlessly exciting city of Las Vegas! (Come say hi at Booth #111).
It’s been a busy year for Chronosphere, to say the least! Whether we’re growing our number of joint AWS customers or adding new capabilities to empower developer productivity and help cloud native companies control costs, we constantly have news to share.
Now, we’re keeping the news rolling by announcing our acceptance into the AWS ISV Accelerate Program, alongside our new integration with Amazon EventBridge. This is all happening at AWS re:Invent 2023 – where upwards of 65,000 people are gathering.
Read on to find out what’s happening at the show, what the Chronosphere team has planned for a week full of insights and fun, and check out our top recommendations for enjoying your week in Las Vegas.
ISV Accelerate Program demonstrates next level of partnership
Joining the AWS ISV Accelerate Program demonstrates to customers the deep level of partnership between Chronosphere and AWS. Given the rigorous process and evaluation criteria to be accepted to the program, it puts Chronosphere in the company of many other industry-leading SaaS providers who have deep ties to AWS.
Another benefit to customers is that they can take advantage of an easy, transparent procurement process when purchasing Chronosphere’s solution through the AWS Marketplace.
Chronosphere + AWS integrations assure simplicity for AWS customers
We are also releasing a new integration with Amazon EventBridge (formerly CloudWatch Events). With this new integration, customers can easily see what relevant events from AWS (i.e., a config change, an autoscaling event, etc.) may have caused a change — and ultimately an alert firing — in Chronosphere. This new integration includes links directly from Chronosphere to a relevant event in AWS. The result is the ability to solve problems much more quickly by rapidly identifying what change caused an issue.
How Chronosphere is helping AWS customers
In addition to these new AWS partnership milestones, Chronosphere is already providing many joint customers with a proven solution to help them deliver reliable, performant, and highly available solutions on cloud native architectures.
Explore Chronosphere on AWS Marketplace
Chronosphere can help AWS customers solve their reliability concerns and successfully know, triage, and understand the behavior of containers and microservices. Alongside joining the ISV Accelerate program, Chronosphere’s solution is available on the AWS marketplace.
Hey there, AWS re:Invent!
Now, let’s talk about this week at re:Invent! Returning to the bustling city of Las Vegas this year’s event is sure to be a busy one – and a blast. With more than 51,000 attendees at last year’s event, we can only imagine what will be on the books this week.
This year’s AWS re:Invent includes keynotes by top AWS leaders, innovation talks with cloud computing experts, and over 2,000+ learning sessions. Read on to find out what to expect for the week, what Chronosphere will be up to at our booth (and in the city!) and a list of Las Vegas recs from local Chronauts.
What to expect from this year’s event
What can attendees expect on and off the show floor? Besides the plenty of fun that AWS has lined up, get a taste of what Chronosphere has planned below.
See It. Find It. Fix It. Faster. Find us at Booth #111!
At our booth, learn how you can help your team reduce costs and increase overall productivity with the power of cloud native observability.
Stop by our booth #111 and check out our variety of swag – from a chance to win a one of a kind, fully programmable replica CyberPunk helmet, to our notorious socks and stickers!
If you’re busy running around the show and you’re short on time, you can pre-book your demo in the booth now! After the demo, you’ll receive a Tile Pro tracker while supplies last. Chronosphere always helps you find what is valuable quickly!
Are you playing the AWS Re:Invent Passport game in the mobile app? Chronosphere is all about cost savings and we want you to win BIG. Stop by our booth to learn more and get your digital passport stamp.
Chrono-Recs for the week
If you have any free time to spare, check out these Chrono-Recs from some locals on what to eat, drink, and experience while you’re in Las Vegas!
Today we shared the news that Chronosphere raised $115 million in an additional Series C round, bringing our total funding to $343 million and increasing valuation to $1.6 billion. Of course this would be welcome news for any hyper growth company, especially in this tight funding market. But for us at Chronosphere, it’s more than just a capital investment. It’s a show of confidence. A mere 14 months after our initial $200 million in Series C funding round, our existing investors doubled down and two new investors came on board.
Long story, short: this latest, massive funding round says Chronosphere has the brightest of futures. It’s the kind of company employees want to join and the kind of company customers can trust to solve their toughest challenges.
We wouldn’t be where we are today without our customers. Robinhood, Snap, Astronomer, DoorDash, Zillow, and Visa are among our fast-growing list of customers and we are extremely grateful for every one of them.
Our team works tirelessly to be able to provide our customers with proven industry leading reliability and effectiveness – having never broken our 99.9% SLA guarantee while reducing their number of severe incidents by 75%!
Our customers are also significantly reducing their costs when switching over from their incumbent solutions — according to a recent Total Economic Impact™(TEI) study from Forrester, an average Chronosphere customer receives $7.9M in total business value over three years with a payback period of less than 6 months. We published the ROI calculator so you can see for yourself how Chronosphere can help your company. As you can imagine, this combination of a more performant and reliable observability solution at a lower cost is resonating with lots of companies in the current economic climate.
A massive funding round and a rapidly growing customer base is great news to share, and tells us we’re heading in the right direction. But we’re also focused on achieving our goals while building a best-in-class company. There’s no greater affirmation of this than winning culture awards that are voted on by your employees (Comparably collects anonymous employee “sentiment ratings” over a 12-month period to determine results for its annual awards.)
From day one, Chronosphere has prioritized diversity and inclusion. We believe the more diverse your organization is, the more productive, happy, and innovative your employees will be. It’s been challenging to grow our workforce tenfold in the space of three years, without wavering on this commitment to DEI. The awards for Best Company for Women and Best Company for Diversity demonstrate that our employees think we are doing a pretty good job. I couldn’t be more pleased.
Best Culture and Best CEO
From day one, my co-founder Rob Skillington and I envisioned Chronosphere as a company that would be a place where people want to work. A place where people would love showing up every day and where they would give it their all. Winning Comparably’s Best Culture and Best CEO awards tells me we’re on the right track. And it tells me our corporate values (no egos, trust & transparency, enduring camaraderie & care, reliability & responsibility, nothing is impossible) are ringing true.
New investors join, existing investors double-down
We are extremely grateful that our investors continue to be not only bullish on our observability platform, but bullish on us. Our newest investors working with us include Sangeen Zeb who is a Partner at GV (formerly Google Ventures) and Divya Sudhakar from Geodesic Capital. And we are extremely pleased that all existing Chronosphere investors doubled-down, including: Brandon Reeves from Lux Capital, Anton Levy from General Atlantic, Jerry Chen from Greylock Partners, and Lee Fixel from Addition. Last round we started working with Brian Singerman from Founders Fund and Kim Moore from Glynn Capital, and we are excited to welcome them back as well.
I’ll let you in on a secret. Our investors are part of the Chronosphere team. They are there on the front lines with us, actively helping our company grow and succeed. A great example is how one of our newest investors — GV Partner, Sangeen — helped us find many of the GTM executives who recently joined Chronosphere. Existing investors are always helping too, whether it’s working the phones or joining me in an interview on TheCube.
Our investors are unique and we appreciate their support immensely.
Onward and upward
We are day-ten of the new year and there will be much more news to come from us over the next 11 ½ months and beyond. I don’t know the details yet, because my crystal ball isn’t that good. But I know everything will be exciting and I look forward to sharing.
Founded in 2019, Chronosphere is a remote-first company built by engineers, for engineers. We are a leading cloud native observability platform aimed at putting engineers back in the driver’s seat to seamlessly navigate cloud native complexity.
In the past year, we’ve achieved some pretty amazing things: like tripling our team, adding key executive leaders, and retaining 100% of our valued customers. At this year’s KubeCon + CloudNativeCon we announced our latest launch of the Chronosphere platform which continues to disrupt legacy solutions that we think provide too little, too late for too much out of pocket. Needless to say, we’re on a mission to change the observability world, and it starts with our people.
In October, we saw two awards as a result of our great culture. Today, we couldn’t be prouder to add four more awards to the list including:
🏆Best Company Culture
🏆Best Company for Women
🏆Best Company for Diversity
What do these awards say? These Comparably awards speak to the special culture that we’ve cultivated together, and our leadership that takes us to the next level.
Let’s take a dive into what each award means.
Best CEO award
Comparably released their 6th annual list of Best CEOs, based on anonymous employee ratings over a 12 month period. The final rankings were determined from sample questions and approval metrics of CEOs. We were ecstatic (but not surprised) to see none other than our trailblazing CEO, Martin Mao, grinning in 1st place on the small/mid-size companies list!
Martin leveraged his success at Uber, where he and future co-founder and our CTO, Rob Skillington worked on an open-source observability tooling (M3!). It provided Uber with the power of a scalable, remote storage time series database. With “uber” relevant experience under their belt they founded Chronosphere, as a people-first company with a passion to develop great, mission critical products.
At any company, the cultural mindset starts with its leadership and in particular the CEO. Martin believes — and it’s echoed throughout the leadership team — that transparent, people-first leadership is key to the success of every teammate. With the important pass-along effect of enduring camaraderie and care (amongst the rest of our values), we feel unstoppable in our mission and solutions.
See Martin’s leadership in action in this video from our company-wide third birthday celebration!
Best company culture
Comparably’s company culture rankings were determined on 20 core culture metrics — from compensation to career growth and leadership. Chronosphere came out with an A+ rating across the board — with the majority of voters noting that they truly look forward to interacting with their teammates (+1 to that. I mean, our team is pretty great.)
We believe in a work environment where all Chronospherians can thrive. Although our headcount has rapidly expanded we work to maintain a culture of trust and transparency. We think it helps make us collaborative, innovative, and successful in all of our endeavors — from teams down to the individual.
At Chronosphere, we offer an extensive list of global perks and benefits – to support our people, such as gender affirmation spending accounts. And, we’re always finding different ways for Chronospherians to connect — whether that be over free lunches, at monthly hub events, or even global, company-wide trips at exciting destinations!
Best company for women…
How about the award for best company for women? Yep – we’re on that list too. Chronosphere actually ranks in the top 5% of companies for our “Gender Score”, which measures how female employees rate their experience across multiple dimensions.
This “Best company for women” award reinforces our commitment to our continued efforts in creating a diverse, equitable and inclusive work environment for all female-identifying teammates; especially in a famously male-dominated industry. For example, while the engineering org increased by 54%, we increased the number of female identifying engineers by 325%.
The Chronosphere team also expands inclusivity efforts outside of the company, like partnering with Girls Who Code, the largest pipeline of future female engineers.
…and best company for diversity
Finally, check us out on the list for Best Company for Diversity. Small tech companies with less than 1,000 people actually hold the largest female employee ratio, with 30.2% – according to this FinancesOnline article. We’ve bested this number. With approximately 250 employees, we’ve achieved greater parity with no single gender comprising more than 65% of our workforce.
But, we are going further. For instance, you can see the average employment trends in tech in this special report by the EEOC, which highlights minority employment disparity in the tech industry. We aim to do better. Much better.
As part of our Q3 DEI goals, Chronosphere has pledged and achieved to ensure greater diversity across the organization where no single ethnicity would make up more than 55% of the team.
What does Diversity, Equity and Inclusion at Chronosphere look like?
The presence of difference.
It’s about taking intentional steps to establish mutual respect, understanding, and recognition for our unique qualities and experiences. We start with our hiring practices: further exposure to our role with job boards, asking for resumes to be blinded by candidates, and tracking efforts through DEI surveys.
Treating everyone the same.
We aim to meet people where they are, so that all teammates have an equal opportunity to be successful. We look at our practices and policies for this. How we think about compensation, and onboarding a Head of Total Rewards are a few ways we make sure people feel valued.
Creating an environment where everyone feels respected and connected to one another.
We practice inclusion at Chronosphere by seeking various ways for team members to not just feel invited to the party but feel part of it, too. This means in-person events and virtual events to acknowledge levels of comfort, sponsored meetings and work locations, and pulling in multi-level and multi-background individuals.
One of our priorities in 2023 is to have DEI innate to who we are — with DEI awareness events internally, alongside continued efforts to diversify the candidate pipeline. For FY24, we hope to launch at least two additional employee resource groups.
And stay tuned – we aim to release our first annual DEI report in March of 2023!
You can check out all of our latest happenings here!
Today we shared monster news that Chronosphere raised $200 million in Series C funding and now, as a privately held startup valued at over $1 billion, we’ve achieved unicorn status. I am beyond proud of the work our team has done to reach this milestone, and beyond excited for what’s still to come.
Chronosphere is that rare kind of unicorn
You may be asking yourself – why is Martin still writing? What more is there to say on the topic?? Lately it seems like there’s a unicorn born almost every day … no big deal.
True – if you make the mistake of judging a unicorn based on valuation alone.
Chronosphere is a rare kind of unicorn because of how we got here. That may sound like a parental boast, so I have summed up a few reasons why Chronosphere’s unicorn status is unique, and why there’s more to our story than a $1 billion-plus valuation.
Unicorn status was lightning fast
A mere two years ago, Chronosphere was still in stealth mode and it was just my co-founder, Rob Skillington, and me working pandemic-style. I was huddled in the laundry room of my condo, and Rob was working from a desk tucked into a corner of his living room. Blink – Chronosphere is a unicorn. Going from zero to unicorn status in 2.3 years, this is rare. In fact, according to Pitchbook, Chronosphere is now in the top 10 fastest B2B SaaS unicorns. EVER.
Tiny (but rapidly growing) team
We reached unicorn level with a team of only 80 people, most of whom joined during the past year … and in the midst of a pandemic. The textbook term for a unicorn team this size is “tiny.” Small as it is, the team of 80 is world class, which has made it possible to reach this milestone, and as fast as we did. The good news is, we are growing rapidly, and expect to surpass 110 Chronospherians by year’s end – this means we are hiring! Chronosphere prides itself on providing an inclusive, positive, learning environment – please check out our careers page for a role that fits you and come join the team.
As noisy as the unicorn news has been, the reality is only a handful of companies ever get to this stage. According to AngelList, a venture-backed, seed-stage startup only has an estimated 1 in 40 (or 2.5%!) shot of becoming a unicorn today.
How many of those companies can prove that their $billion valuation is more than perception? Chronosphere can. At a little more than two years old, we are already showing momentum, and our velocity is backed by real business numbers. Yet another reason why we are a special kind of unicorn.
Investors keep coming
With our Series C funding, we have raised a total of $255 million. It is a great sign for us that all of our existing investors decided to double-down on us with Anton Levy from General Atlantic leading the round. We’re looking forward to the continued support by Jerry Chen from Greylock Partners, Brandon Reeves from Lux Capital, and Lee Fixel from Addition. We’re equally as excited to start working with Brian Singerman from Founders Fund, Yasmin Razavi from Spark Capital, and Kim Moore from Glynn Capital.
Where do we go from here?
Chronosphere still has most of our previous capital on hand. If we wanted to grow at a healthy rate that was slower – but more typical of the olden days (aka 2 years ago) – we could have continued on, status quo, without a Series C round.
But that’s not our reality. Chronosphere has been executing on record growth, which demonstrates how differentiated the product we offer really is. It also demonstrates overall market demand for a true Observability platform as more companies adopt cloud-native architecture. This means that we need to grow even faster next year, and the funding will continue to help us:
Grow the go-to-market team.
Go after more segments of the market.
Continually expand the product capabilities.
Three phases of observability: Distributed tracing
There’s plenty more to do in observability, and we are just getting started. But rest assured, we are doubling down on more product enhancements next year – we’ll be rolling out capabilities at a faster pace, and being a unicorn is the surest way for us to get there.
I still beam into our company All Hands from the laundry room on occasion. Our remote-first work / lifestyle continues, so it’s both a necessity and for kicks. I’ll admit … I kind of look forward to someday streaming into the NASDAQ with those front loaders behind me.
Plans for our $43 million series B round (total $55 million in funding).
Our rapid growth (employees and customers).
What it means to be cloud-native.
What types of organizations benefit from Chronosphere.
When it’s time to migrate from open source monitoring tools to a SaaS solution like Chronosphere.
What is observability.
You can watch the 29-minute video to hear Alan and Martin in their own voices. In the meantime, here are a couple of highlights from their chat:
AS: Chronosphere is a company I’m somewhat familiar with, but a lot of our audience may not be. Give us a little bit of the Chronosphere story, and weave in how you came to co-found it.
MM: At Chronosphere we provide a hosted monitoring solution purpose-built for cloud-native environments. Monitoring has been around forever and cloud-native is just as critical, if not more critical, as it was before. The thing you are monitoring has now fundamentally changed as part of this shift to Kubernetes and microservices. Now we’re monitoring very dynamic, nimble microservices. That’s created a need for a new tool that’s purpose-built to monitor these environments as opposed to legacy ones.
As for my past, before I co-founded Chronosphere [with CTO Rob Skillington] I was leading the core observability team at Uber where we were very early adopters of cloud-native technologies. We experienced first-hand the difficulties of monitoring these particular environments. We actually built open source tooling to solve these problems for ourselves at Uber. A couple of years ago, Rob and I decided to leave Uber and start a company and build on top of this open source tooling that we had developed. We created what is today known as Chronosphere.