Chronosphere Marks a Year of New Capabilities and Expansion

NEW YORK – March 6, 2024 – Chronosphere, the leading cloud native observability platform, had another record-setting year, raising $120 million in Series C funding at a $1.6 billion valuation since February 2023. The company also enhanced its product capabilities with its first-ever acquisition of observability pipeline solution Calyptia, a new partnership and integration with CrowdStrike, and a new user experience for developers and engineering teams.

With cloud native adoption on the rise, the demand for Chronosphere’s one-stop observability solution has gained increased traction among top brands, adding customers in the fields of healthcare, fintech, and AI. Observability enables quicker and more decisive actions, reduces customer-facing incidents, and accelerates release velocity, ultimately resulting in better business outcomes.

“The need for efficient and effective observability has increased significantly with the rise in outages and the millions being wasted on lost developer productivity,” said Martin Mao, CEO and Co-Founder, Chronosphere. “Over the past year, we’ve added new logging capabilities to our platform, added a new observability pipeline with the Calyptia acquisition, and expanded the situational awareness of engineers with Lens. The goal continues to be finding ways to help customers gain insights from their observability data in order to solve problems more quickly and easily, while still reducing costs.”

For Chronosphere, the past year has been filled with many company and product milestones, including:

Completed First-Ever Acquisition

• Chronosphere acquired Calyptia, a leading provider of observability pipeline solutions. Calyptia’s core technology, log transformation and optimization capabilities, will be integrated into the Chronosphere’s cloud native observability platform.

Raised Series C Funding, Valued at $1.6 Billion

• Chronosphere raised an additional $120 million Series C funding.
• New investors included GV (formerly Google Ventures) and Geodesic Capital, bringing Chronosphere’s total funding to $343 million, and increasing the company’s valuation to $1.6 billion. Existing Chronosphere investors also participated in the round including: Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital, and Lux Capital.
• Chronosphere also announced an investment by CrowdStrike last month, via its strategic investment vehicle, the Falcon Fund.

Forged New Partnerships

• Chronosphere announced a multi-year agreement with Google Cloud to help customers quickly resolve incidents while controlling costs associated with cloud native observability solutions.
• Chronosphere joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program. Chronosphere on AWS will provide an observability solution that helps joint customers know, triage, and understand the behavior of containers and microservices on AWS.
• Chronosphere became the first observability company to Join the FinOps Foundation.

Enhanced Platform Capabilities

• Chronosphere Lens brings familiar service-oriented observability principles to the cloud native era. Its main goal is to enhance the situational awareness of developers, who today must keep track of not just how their system is architected and operated, but also how to use the observability tools that measure performance and reliability.
• Change Event Tracking is a unique set of features within Chronosphere that gives developers instant insight into what changes introduced problems across their infrastructure, applications or business, via integrations with various DevOps and PaaS tools.
• Chronosphere also revealed Logs, powered by CrowdStrike, enabling teams to deliver data ingestion at scale and conduct blazing fast search across petabytes of data.

Expanded to New Global Markets, Acquired New Talent

• The company grew its global leadership bench, appointing Rob Baxter as the company’s VP of the EMEA region. Baxter is responsible for overseeing the expansion and sales operations of Chronosphere in EMEA markets.
• Through its acquisition of Calyptia, the company added core maintainers of the Fluent Bit open source project, including founders Eduardo Silva and Anurag Gupta.
• Christina Gillman, head of Channels and Partnerships, joined Chronosphere from Grafana Labs. Gillman is responsible for building an ecosystem of partners to help customers navigate their cloud native journey.

Recognized for Company, Product and Culture

• Chronosphere was named a LinkedIn Top Startup.
• Chronosphere won multiple Comparably awards, including best CEO and Best Workplace for Women.
• Forbes ranked Chronosphere #34 in the America’s Best Startup Employer list in 2024, and #41 in 2023.
• Chronosphere was named a Strong Performer for 2023 in the Gartner® Peer InsightsTM “Voice of the Customer” for Application Performance Monitoring and Observability Report.

About Chronosphere

Chronosphere is the only cloud native observability solution that helps teams quickly resolve incidents before they impact the customer experience and the bottom line. Combined with the power of Calyptia, a leader in logging and observability pipeline solutions, Chronosphere’s end-to-end observability platform helps teams rein in costs, improve developer productivity, and gain a competitive advantage. For more information, visit https://chronosphere.io or follow Chronosphere on LinkedIn and X.

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