Today, I’m happy to share that Grafana Labs has closed a $240 million Series D round of investment. This is a major milestone for us that goes well beyond the number of dollars.
First, we are grateful to our internal team (affectionately called Grafanistas) and our community of users and customers. Without them, we would not have been given this opportunity. We thank our existing investors – GIC, Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital – who all participated in this round, just seven months after our Series C. To us, this is an amazing expression of their belief in our team, our product strategy and execution, and our business.
GIC, Singapore’s sovereign wealth fund, led this round after making its initial investment in our 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. Engineers across JPMorgan Chase have long been active in the Grafana open source community, and in 2018, the company became a Grafana Labs customer. Since then, we have gone above and beyond a typical vendor relationship and enjoyed a true collaboration, which led to our induction into the JPMorgan Chase Hall of Innovation in 2020.
Elena Zislin, Managing Director at J.P. Morgan, said that she drew on the relationship that we had already built with the technology team at the global bank – along with “detailed analysis on the broader market, vendor landscape, and customer input” – when evaluating Grafana Labs as an investment opportunity. “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,” she added.
With this funding, our plans are simple: aggressively deliver on our product roadmap, continue to release impactful open source software, bring many new capabilities to market, and constantly listen to the community and our customers to drive innovation. We’ve seen adoption of Grafana continue to grow, and the community’s enthusiasm has fueled the acceleration of new open source 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.
At Grafana Labs, our “big tent” approach means we have always strived to meet our users where they are, and provide them with the technology so that they can control their own observability strategy and visualize anything they want. As we’ve seen in our community, that includes everything from satellite launches to beekeepers’ hives. We are excited to continue investing in the open source technology that brings our community together, and the products that allow our customers to become collaborators.
To learn more, go to the press release about Grafana Labs' Series D funding.