Follow The Money
Startup companies pushing technology boundaries in the realms of cybersecurity and big data continue to dominate our monthly list of companies that are attracting significant amounts of venture funding.
Grafana Labs, a developer of open-source data observability and visualization software tops the April list with an impressive $240 million funding round. Other companies in the big data space with funding rounds include data catalog developer Data.World, data science/machine tool vendor dotData and data engineering platform provider Ascend.io.
Two companies on the April list, ThreatLocker and Twingate, are focused on Zero Trust security while Coro builds an all-in-one cybersecurity platform. OSF Digital, which raised $100 million, provides digital transformation solutions and services.
Pax8, which operates a cloud commerce marketplace for buying, selling and managing cloud solutions, boosted its valuation with a $185 funding round. Also on the April roundup is Demostack, which develops a demonstration experience platform for creating tailored software product demos for online sales pitches.
Headquarters: New York
CEO: Raj Dutt
Funding: A $240 million Series D funding round.
Investors: The round was led by GIC, Singapore’s sovereign wealth fund, with participation from new investor J.P. Morgan. Also participating were all other existing investors including Sequoia Capital, Coatue, Lightspeed Venture Partners and Lead Edge Capital.
What company does: Grafana Labs develops open-source observability and data visualization software used to collect metric, log and trace data generated by IT infrastructure, networks, cybersecurity tools and other systems and build data dashboards and visualizations.
CEO Quote: “Our plans are simple: aggressively deliver on our product roadmap and our commitment to embracing the big tent — enabling our users to compose and visualize data from any source — while continuing to build out modern observability capabilities across metrics, logs, tracing, and more. We are committed to the continual release of impactful open-source software, bringing many new capabilities to market, and constantly listening to the community and our customers to drive innovation.”