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Cribl Raises $150M In Funding, Expands Data Observability Pipeline Lineup

Series D funding comes as the company reports rapid growth in revenue and its customer base.

Data observability pipeline software developer Cribl has raised $150 million in a Series D round of funding, the company said Tuesday. The round, led by investor Tiger Global Management, brings the San Francisco-based company’s total funding to $400 million.

Cribl also expanded its product line by unveiling Cribl Search, a new tool to conduct “search-in-place” data queries. Cribl Search joins the company’s flagship Cribl Stream and the recently introduced Cribl Edge in the company’s product portfolio.

“This funding round is a validation of our track record of success,” said CEO and co-founder Clint Sharp (pictured) in an interview with CRN. He said the company has been growing at about 300 percent year over year in terms of revenue and customers and the company’s employee roster is expected to grow from its current 300 to around 500 by year’s end, he added.

[Related: The Big Data 100 2022]

Cribl, founded in 2017, is part of a wave of young companies developing software in the data observability space. As businesses and organizations generate increasingly huge volumes of data, they are struggling to manage that data, maintain data quality and make it available to analysts and information workers who can use it for competitive advantage.

Cribl targets its products toward IT operations and security managers whose systems are generating data. “Ultimately, it’s about giving people access to significantly greater quantities of data,” Sharp said. “With one centralized interface they can look across everywhere, solving their true problem, which is data sprawl and data living everywhere.”

Expanded Product Line

Cribl Stream (originally known as LogStream) observability pipeline product is used to collect, reduce, enrich, normalize and route data from any source to any destination within an existing data infrastructure. Cribl Edge, unveiled in March, is a next-generation agent used to auto-discover and centrally control mission-critical telemetry data for incorporation into analytics systems.

Cribl describes the new Cribl Search product as a vendor-agnostic analytics tool for conducting search-in-place queries, enabling queries on any data, in any format, in any location – including raw data in databases and data lakes, Sharp said. Crible Search, now in preview, is slated to be generally available in the fourth quarter of this year.

Crible Search is the first product to come out of the company’s Cribl Zero-to-One internal organization, launched in March, that is focused on early-stage new product development. Cribl Zero-to-One is charged with identifying and solving new customer problems, expanding the company’s product portfolio and creating new revenue streams. The organization is led by Cribl co-founders Dritan Bitincka, head of product, and CTO Ledion Bitincka.

Channel Opportunities In Observability

Sharp said Cribl’s go-to-market strategy is to lead with its Cribl Stream product and then expand the company’s presence within customer accounts using its broader product line.

The expanded product line also creates additional land-and-expand opportunities for Cribl’s channel partners, including resellers, distributors and systems integrators. “The vast majority of our business runs through the channel today,” Sharp said.

The latest funding round comes less than a year after Cribl raised $200 million in a Series C round. In addition to Tiger Global Management, participants in the latest funding round included existing investors IVP, CRV, Redpoint Ventures, Sequoia and Greylock.

Sharp said the additional funding and new product are indicative of Cribl’s momentum and – given the demand for data management and observability tools – he described the company as “incredibly bullish” on its prospects despite current economic uncertainties.

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