This latest round of funding helps Grafana Labs reach a $3B valuation. Here are the top-line bullets you need to know.
Grafana Labs, an open-source visualization and observability platform, has raised $220M in a Series C. The round drew participation from Lightspeed Venture Partners, Lead Edge Capital, Sequoia Capital, and GIC among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Grafana Labs’ open-source software helps companies better visualize time-series data. The software can be run either through the fully-managed Grafana Cloud or through the self-managed Grafana Enterprise Stack.
- Globally, there are over 750,000 active installations of Grafana.
- The company caters to more than 1,500 clients, including Bloomberg, JPMorgan Chase, eBay, PayPal, and Sony.
- Grafana Labs currently operates in over 40 countries and is supported by a team of nearly 500 employees.
Source: Grafana Labs
WHY DOES THE MARKET MATTER?
- The global data visualization tools market is projected to grow at a CAGR of 11.2% to reach a value of $10.8B by 2027, according to Research and Markets.
- The data visualization market has been adversely affected by the Covid-19 pandemic. However, the use of charts and other visual tools has grown amid the pandemic.