December 8, 2022

Pierreloti Chelsea

Latest technological developments

Open source software developer Grafana Labs raises $240m Series D led by GIC

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Grafana Labs, the service provider of open resource technological know-how for dashboards and visualisation, has introduced a $240-million Sequence D round of investment decision led by Singapore sovereign wealth fund GIC, it said in a assertion. New trader JP Morgan also joined the round.

Other current buyers – Sequoia Money, Coatue, Lightspeed Enterprise Companions, and Direct Edge Capital – also participated in the round. Grafana’s Sequence D round arrives just seven months right after it concluded its $220-million Sequence C fundraising.

GIC had originally invested in Grafana’s $50-million Collection B spherical in 2020. “Grafana Labs is a strong, merchandise-led corporation that has built a dedicated consumer foundation and has major adoption,” mentioned Choo Yong Cheen, GIC’s Chief Investment decision Officer for Non-public Equity.

“We are enthusiastic to guide the spherical, especially as we’ve witnessed Grafana Labs’ potential to translate a portion of their free adoption into steady business enterprise effects. We see substantial global desire in Grafana Labs’ products and solutions and seem forward to leveraging GIC’s community to support the company’s international advancement ambitions and generate deeper associations in APAC around the long expression.”

Grafana statements its all over the world adoption grew 25x in the previous 6 decades with more than 900,000 active installations and 10 million global customers. Its variety of resources includes Grafana Loki (for logging), Grafana Tempo (for traces), and most not too long ago, Grafana Mimir (for metrics).

Grafana Labs CEO and co-founder Raj Dutt stated, “We are committed to the continual release of impactful open up supply software program, bringing quite a few new abilities to market place, and frequently listening to the group and our customers to generate innovation.”

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