Grafana Labs Announces $240 Million Investment Round Led by GIC and Welcomes New Investor J.P. Morgan
Published: 6 Apr 2022
New round gives Grafana Labs fuel to aggressively deliver on its open source and cloud product roadmap for observability and to drive innovation tailored for its community and customers.
NEW YORK, April 6, 2022 - Grafana Labs, the company behind the world’s most ubiquitous open and composable operational dashboards, today announced a $240 million Series D round of investment led by GIC, with participation from new investor J.P. Morgan.
GIC, Singapore’s sovereign wealth fund, made its initial investment in Grafana Labs’ Series B round in 2020. “Grafana Labs is a strong, product-led company that has built a committed customer base and has significant adoption,” said Choo Yong Cheen, GIC’s Chief Investment Officer for Private Equity. “We are enthusiastic to lead the round, particularly as we’ve witnessed Grafana Labs’ ability to translate a portion of their free adoption into consistent business results. We see significant global interest in Grafana Labs’ products and look forward to leveraging GIC’s network to support the company’s global growth ambitions and drive deeper relationships in APAC over the long term.”
This round also marks the addition of J.P. Morgan as an investor. All other existing investors – Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital – participated in this round, just seven months after the company’s Series C.
“Grafana Labs delivers a well-known and adopted observability stack. In evaluating Grafana Labs as an investment opportunity, we were able to draw on our relationship, along with detailed analysis on the broader market, vendor landscape, and customer input. It’s clear that customers and prospects see both short-term and long-term success working with Grafana Labs and, with our investment, we are happy to enable Grafana Labs to continue to grow and scale,” said Elena Zislin, Managing Director, J.P. Morgan.
With this round of investment, Grafana Labs CEO and Co-founder Raj Dutt said, “Our plans are simple: aggressively deliver on our product roadmap and our commitment to embracing the big tent — enabling our users to compose and visualize data from any source — while continuing to build out modern observability capabilities across metrics, logs, tracing, and more. We are committed to the continual release of impactful open source software, bringing many new capabilities to market, and constantly listening to the community and our customers to drive innovation.”
Worldwide adoption of Grafana has increased 25x in the past 6 years, and today there are more than 900,000 active installations and 10 million global users. Grafana Labs has also launched a full slate of open source observability projects, including Grafana Loki (for logging), Grafana Tempo (for traces), and most recently, Grafana Mimir (for metrics). Grafana Mimir represents a significant ongoing investment and commitment to deliver the world’s most highly performant, horizontally scaling time series database backend; Mimir has already been tested and hardened in production to support more than 1 billion active series. At the heart of the Grafana observability stack are the popular dashboards that are interoperable with any number of disparate data sources, enabling users of the Grafana platform to visualize anything they want and control their own observability strategy.
About Grafana Labs
Grafana Labs provides an open and composable monitoring and observability stack built around Grafana, the leading open source technology for dashboards and visualization. There are more than 2,000 Grafana Labs customers, including Bloomberg, Citigroup, Dell Technologies, Salesforce, and TomTom, and more than 900,000 active installations of Grafana around the world. Grafana Labs helps companies manage their observability strategies with full-stack offerings that can be run fully managed with Grafana Cloud or self-managed with the Grafana Enterprise Stack, both featuring scalable metrics (Grafana Mimir), logs (Grafana Loki), and traces (Grafana Tempo) as well as extensive enterprise data source plugins, dashboard management, alerting, reporting, and security. Grafana Labs is backed by leading investors Lightspeed Venture Partners, Lead Edge Capital, GIC, Sequoia Capital, Coatue, and J.P. Morgan. Follow Grafana Labs on LinkedIn and Twitter or visit grafana.com.
Mentha Benek, Grafana Labs