Round includes repeat investors NewSpring Capital, Osage Venture Partners and Bull City Venture Partners as company sets new sales records in 2021
Circonus, the full-stack monitoring and analytics platform built for the modern-day enterprise, announced it has secured $10 million in Series B funding led by Baird Capital with participation from existing investors NewSpring Capital, Osage Venture Partners, and Bull City Venture Partners. The new funding will be used to accelerate growth, scale product innovation, and build upon the company’s record-setting performance in 2021.
“The pace of technology innovation is accelerating faster than ever, which creates both opportunities and challenges for the enterprise,” said Joanna Arras, Partner at Baird Capital, who will join Circonus’ board of directors. “Circonus delivers extraordinary value to its clients through its ability to handle vast amounts of metric data and translate that information into valuable business insights and competitive advantage. We are excited to partner with Bob and the team at Circonus to support them in this next phase of growth.”
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“Circonus is a workhorse of a platform that just flat out works,” said Frank Pellitteri, Vice President of Technology, Xandr. “We’re ingesting a quarter billion metrics every minute with Circonus and we use that data to optimize our performance, mitigate latency, and even detect attempted fraudulent activity. We were an early adopter of Circonus and we’re pleased to be a part of the company’s continued success.”
Circonus has long been a pioneer in the IT infrastructure monitoring space and has garnered an impressive list of marquee clients. Circonus gives organizations the ability to monitor all their infrastructure, network, applications, cloud, and containers in one unified platform, giving them greater visibility, faster troubleshooting, and the ability to correlate insights across systems and business units to drive better, more accurate decisions. Circonus’ customizability, flexible deployment options, data safety and security, and support packages make it a popular choice for enterprises, particularly those running global, distributed, mission-critical infrastructure and applications at scale.
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“From the beginning our mission has been to deliver monitoring without limits – eliminating any and all roadblocks to the best possible observability and actionable intelligence,” said Bob Moul, Circonus CEO. “With the acceleration of digital transformation and the demand for online services skyrocketing, the performance of today’s infrastructure and applications has never been more critical. We are thrilled to partner with Joanna and the team at Baird as we continue our journey helping the world’s leading brands deliver the highest quality digital services and exceptional end-user experiences.”
News of the funding comes on the heels of a record year of growth for the company as more organizations look to modernize and consolidate monitoring solutions, unify observability metrics across the stack, and manage a significantly greater volume of telemetry data. Highlights of the company’s 2021 performance include new sales growth of nearly 300% driven by exceptional renewal and expansion performance and major wins with clients such as Redfin and Electronic Arts.
