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Chronosphere Raises $200 Million In Series C Funding, Adds Distributed Tracing Capabilities To Observability Platform

funding, growth

Chronosphere has announced the addition of distributed tracing capabilities to its platform. Organizations can now ingest distributed traces at scale, seamlessly integrated alongside with metrics, to more rapidly triage and understand the root cause of problems. This addition extends Chronosphere’s platform to have complete coverage across the three phases of observability: notification, triage and root cause analysis.

Chronosphere also announced $200 million in Series C funding, bringing the total raised to $255 million. This round was led by previous investor General Atlantic, a leading global growth equity firm. Other previous investors Addition, Greylock and Lux Capital and new investor Founders Fund also participated.

With this funding, Chronosphere now has a unicorn valuation which it achieved in less than 2 1/2 years. This milestone puts Chronosphere in the top 10 fastest B2B SaaS companies to disclose unicorn status, according to Pitchbook.

Chronosphere plans to use the funding to accelerate hiring across the entire company, from engineering to go-to-market. This will enable the company to rapidly build out new technical capabilities and further extend its lead in the market, as well as tap into new segments.

Chronosphere will be showcasing the platform at PromCon North America 2021 and in booth #SU10 at KubeCon + CloudNativeCon North America 2021 next week.