Chronosphere announces record revenues, customer base and
NEW YORK, September 20, 2021 (GLOBE NEWSWIRE) – Chronosphere, the company that is redefining surveillance for the cloud-native world, today announced record momentum as we approach the fourth quarter of 2021.
“Chronosphere fills a much needed gap in the market with a scalable, reliable and cost effective cloud native monitoring solution. The Chronosphere team has accomplished a tremendous amount of work in a very short period of time. Greylock portfolio companies,” said Jerry Chen , partner at Greylock.
Today’s monitoring tools are not equipped to handle the complex and dynamic nature of cloud native environments and while recommended open source tools like Prometheus help businesses get started, they are not scalable.
Chronosphere offers scalable, reliable and customizable monitoring specifically designed for businesses adopting cloud native. Chronosphere not only enables customers to keep pace with the massive amounts of surveillance data produced by cloud native environments, but it also does so with an order of magnitude more cost effective than existing solutions.
Additionally, Chronosphere enables customers to understand and control the growth of their spend and metrics, even as data continues to grow. This level of visibility and control is the first of its kind in an industry known for monitoring unexpected and uncontrollable invoices. Chronosphere empowers cloud-native engineering organizations to control data volumes, rampant costs, and organizational friction resulting from rapid scale and technical complexity.
Chronosphere’s product is powered by the open source M3 metrics engine that Chronosphere co-founders Martin Mao, CEO, and Rob Skillington, CTO, developed at Uber and scaled to become one of the most large production monitoring systems in the world, storing tens of billions. time series and analyzing billions of data points per second in real time.
Martin said: “I am incredibly proud of the growth we have achieved so far this year. We help some of the world’s most advanced engineering organizations gain reliable visibility into their cloud-native workloads while simultaneously helping them control their rampant growth in data volume and costs. These are challenges that no other SaaS provider has been able to meet.
Chronosphere set new records this year:
Increase in income
Chronosphere’s multi-million dollar annual recurring revenue has grown more than 9 times faster as the company continues to close 6 and 7-figure deals.
Chronosphere has continued to integrate customers, from startups to the well-known global brands of the Fortune 500. Chronosphere has also seen existing customers significantly expand their use.
PlanetScale Vice President of Engineering Nicholas Van Wiggeren said: “Chronosphere provides PlanetScale with best-in-class observability without the overhead costs of using complex tools ourselves. “
Dhruv Purushottam, Anomalous Security Software Engineer, said: “We assessed the market extensively and found Chronosphere to be the only solution focused on scale and cost management. The expertise they had gained from running M3 at Uber was evident and we immediately benefited from the knowledge of their team. We have found their team to be attentive and deeply focused on solving their clients’ issues.
Chronosphere added more than 40 employees this year, nearly doubling its number of employees from 45 to over 80. New hires included a product marketing manager, a growth marketing manager and a sales manager to form a team of GTM direction to meet unprecedented demand. for Chronosphere. This year the company also became remotely first.
Series B Growth Financing
In January of this year, Chronosphere announced $ 43.4 million in Series B funding, bringing the total raised to $ 55 million. The cycle was led by previous investors Greylock, Lux Capital and venture capitalist Lee Fixel with participation from General Atlantic.
Chronosphere has received numerous industry accolades since its inception in 2019. The company was named Gartner Cool Vendor in Performance Analysis., a vendor to watch by EMA, one of The Information’s 50 Most Promising Startups, one of 31 open source software business startups that will thrive during Covid in Business Insider, a startup to watch by Built In NYC and The Startup Weekly’s 2021 Diverse & Inclusive Employer Award.
Chronosphere’s mission is to enable organizations to operate reliably at scale and make accurate, data-driven decisions. Chronosphere provides solutions that are best in class in terms of scale, performance, reliability and cost effectiveness. Chronosphere is backed by Greylock, Lux Capital, General Atlantic and Lee Fixel. For more information visit https://chronosphere.io or follow @chronosphereio.
 Gartner, Cool Vendors in Performance Analysis, by Padraig Byrne and Gregg Siegfried, October 5, 2020 (report available to Gartner subscribers here: https://www.gartner.com/document/3991389)
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