Chronosphere has announced it closed on a $43.4 million Series B and made its cloud-native monitoring platform publicly available on Wednesday. The round was led by previous investors Greylock, Lux Capital and venture capitalist Lee Fixel, with participation from General Atlantic.
Launched in 2019, Chronosphere’s platform is powered by M3, an open source metrics engine developed by founders Martin Mao and Rob Skillington while they were at Uber. In a nutshell, M3 is able to store tens of billions of time series and analyze billions of data powers per second in real-time, helping speed up the process of monitoring cloud-native workloads.
“Everyone understands the business benefits of cloud-native architecture, but not many think about the implications,” CEO Mao said in a statement. “For monitoring, you need a solution that is not only compatible with the rest of the ecosystem, but one that can also handle all of the data produced by the ephemeral and complex nature of these new environments.”
Chronosphere claims the level of visibility and control its platform provides is the first of its kind, reducing monitoring costs by as much as 10x for some customers while also remaining compatible with other cloud-native standards like Prometheus and PromQL. The company’s customers range from publicly traded, multi-billion-dollar companies to high-growth startups across the financial, retail and consumer industries.
Now, its platform has been made generally available in an effort to help all businesses more effectively harness their data — an industry Lux Capital’s Brandon Reeves says is ripe for innovation.
“There is a massive technology shift happening in the enterprise today and the accelerated cloud transformation wrought by the pandemic has only hastened that evolution,” Reeves said in a recent blog post. “Chronosphere provides customers with a product developed from the ground up to provide visibility up and down the stack, from infrastructure to applications, to monitor both static and ephemeral workloads, removing data silos, and ending overages.”
Chronosphere has been growing its team over the last year, telling TechCrunch it has placed extra emphasis on promoting gender and ethic diversity. The company was remote even before the pandemic, but has offices in both NYC and the Seattle area where, normally, employees can see each other in person if they want. The company is now hiring for various roles across its sales, design, engineering, marketing and product teams.
