New Funds Value Data Viz Firm Grafana at $6bn

Dashboard company Grafana Labs has completed a funding extension totalling some $270m, and has doubled its valuation in three years to around $6bn.

The company provides LGTM, an observability stack built around its Grafana open source dashboard and visualization software, to more than 5,000 company clients worldwide, and its products also include tracing systems for tracking application performance, user monitoring and incident response and management tooling. LGTM features scalable metrics product Grafana Mimir, log data tool Grafana Loki and trace data from Grafana Tempo, in addition to extensive enterprise data source plugins, dashboard management, alerting, reporting and security. The software is available through the fully managed Grafana Cloud.

The funding was led by existing investor Lightspeed Venture Partners, with participation from existing institutional investors, and forms an extension to the firm's $240m Series D round in 2022. DRNO reported on its $50m Series B four years ago. The latest money will go to the company and some of its stockholders. Grafana Labs also announced that it now has more than $250 in Annual Recurring Revenue. Headcount is around 1,300.

CEO and co-founder Raj Dutt (pictured) comments: 'We've accomplished so much in the almost 10 years since Grafana Labs was established. The open source side project my co-founder Torkel Ödegaard created now has 20 million users worldwide and has become the foundation of a sustainable business and market leader in observability. Beyond the impressive numbers, what I'm most proud of is that we have stayed true to our roots, while diversifying our revenue sources. We believe with the right strategy, open source will win and we're just getting started'.

The firm is on the web at www.grafana.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.