Datadog Raises $31M in Series C Funding
Led by Index Ventures, new round enables company to strengthen the leadership position and growth trajectory for its cloud monitoring platform
NEW YORK – (BUSINESS WIRE) – Datadog, the leading SaaS-based monitoring platform for cloud applications, today announced it has raised $31M in an oversubscribed Series C funding round led by existing investor Index Ventures, with follow-on investments from RTP Ventures, Openview Venture Partners, Amplify Partners, Contour Venture Partners and other equity holders. The new funding will be used to grow engineering, sales and marketing teams to meet demand and accelerate new product development.
“Modern applications that have ushered today’s digital economy rely on elastic infrastructure and micro-services to deliver the best experience to millions of people worldwide,” said Shardul Shah at Index Ventures. “Datadog helps these apps consistently deliver on their promise by putting disparate metrics from siloed systems in a single view. The combination of Datadog’s beautifully crafted product, stellar team, and hyper growth, is why we’re excited to continue to support them on this journey.”
“Datadog has quickly become one of the most used applications by our entire team,” said Valentino Volonghi, CTO at AdRoll. “Our rapidly growing platform that runs in the cloud needed a monitoring solution that could quickly pinpoint problems in our elastic application stack that spans thousands of servers throughout the world. With its unique ability to quickly identify issues in any part of our infrastructure, Datadog helps our engineers provide a highly optimized experience to our customers. We are excited to see the growth of the company and await product expansion into new areas.”
Since launching in 2010, Datadog has been adopted by thousands of companies, including Netflix, EA, Spotify, MercadoLibre and AdRoll. Datadog currently monitors more than 100,000 servers and draws in over 25 billion data points a day. In 2014, Datadog expanded its support for multiple cloud providers including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Red Hat OpenShift, OpenStack and numerous other platforms. Datadog now integrates monitoring and web operations data from close to 100 commonly used technologies in modern cloud applications.
“We’ve experienced a significant increase in growth and product demand over the past year,” said Olivier Pomel, co-founder and CEO of Datadog. “Datadog is privileged to be working with steadfast, continuous investors who are as committed as we are to transforming and bringing the legacy IT infrastructure in the cloud age. This investment will allow for further product developments, positioning us to better serve existing and prospective customers.”
Datadog is a monitoring service that brings together data from servers, databases, applications, tools and services to present a unified view of the applications that run at scale in the cloud. These capabilities are provided on a SaaS-based data analytics platform that enables Dev and Ops teams to work collaboratively on the infrastructure to avoid downtime, resolve performance problems and ensure that development and deployment cycles finish on time.