Cribl Raises $200M in Series C Funding on Traction with Global Enterprise Customers, Vision to Unlock Value of all Observability Data
Cribl is driving an "Open Ecosystem of Data" for enterprises; Flagship observability products thwart vendor lock-in and expand collection of observability data allowing enterprises to vastly increase the scope and reduce the cost of their data analytics
SAN FRANCISCO, August 25, 2021-- Cribl, the leading Observability Pipeline company, today announced it raised $200 million in new Series C funding led by Greylock and Redpoint Ventures, joined by new investor IVP, existing investors Sequoia and CRV, and with strategic investment from Citi Ventures and CrowdStrike. This Series C funding brings Cribl's total funding to $254 million, coming on the heels of sizable deals with large enterprise customers including FINRA, Rivian, and Cox Automotive.
David Wadhwani, Partner at Greylock, says "Not since my time at AppDynamics have I seen a company taking such an innovative approach to solving a real customer problem. Cribl is enabling customers to realize their long term observability strategies by addressing the single biggest pain point: getting control of the massive surface of data."
Data has become a double-edged sword in the enterprise. Exacerbated by the dramatic growth of remote work, security attacks, and heightened privacy and compliance requirements, companies are now collecting and storing such vast amounts of observability data that a new landscape of tech vendors have emerged to solve the myriad challenges that this "big data" created. But many data vendors address problems by locking customers into their own expensive data stacks — creating a long-term cost and complexity for customers.
Cribl is taking an open approach to the flow of data in the enterprise. In its flagship product, LogStream, Cribl has invented an entirely new, vendor-agnostic way to parse and route any type of event data that flows through corporate IT systems. In doing so, Cribl's LogStream has not only created an observability pipeline that offers unparalleled flexibility and control across IT systems — it gives companies the freedom to choose their own analytics tools and storage destinations from a diverse range of best-of-breed data solutions without fear of vendor lock-in, complementing tools such as Splunk, Datadog, and Exabeam.
"Enterprises today are caught between the mythical ideal of a single pane of glass for all data insights, and the harsh reality that they have to install agents everywhere they want to observe data," said Clint Sharp, co-founder and CEO of Cribl. "Cribl, our customers, and investors recognize there's a better way — to create a unified data pipeline, with the same agents across security and operations, that allows enterprises to maximize the value of their existing investments. This isn't a 'better' or 'faster' version of what's in the market — it's an entirely new, open architecture for observability."
"Today's IT and security teams are under siege – and no one is building software catered to them. Cribl is truly unique as they are the only vendor in the market giving those teams both the power and the choice to manage — and enrich — the onslaught of data in a totally agnostic way," said Scott Raney, Managing Director at Redpoint Ventures. "We hear again and again that their customers are in awe when they use Cribl, which is not feedback we hear very often in this space. We're very excited to partner with this exceptional team tackling this challenging and critical issue."
The Cribl team has a deep heritage building innovative technology at Splunk, and at Cribl the team has invented technology that is the single strategic control point for all data in their enterprise — offering unparalleled flexibility and control over observability data flowing between every system in the enterprise. Its superior purpose-built technology is 7x more efficient at processing event data while using far fewer resources than alternatives, and has helped it win relationships with new global customers such as Whole Foods and Vodafone.
"Organizations engaged in digital transformation initiatives are now faced with managing highly dynamic, but also very complex, distributed environments. It's no surprise then that the top goal of these digital transformation initiatives is to drive operational efficiencies," stated Bob Laliberte, Senior Analyst with ESG. "These modern cloud-native environments generate more data than ever before, and organizations need solutions like Cribl LogStream to enable them to regain control and streamline the collection and distribution of the right data to the right tools, in a cost effective manner."
• Learn more about this news in a blog from Cribl CEO Clint Sharp
• Experience LogStream with the interactive sandboxes
• Sign up for a free LogStream account at https://cribl.cloud
• Interested in joining us? Check out https://cribl.io/jobs
Customer & Investor Quotes:
Cyle Delucca, Senior Automation Engineer at Shutterfly
"It's a great tool for controlling the flow at data ingest, for monitoring and inspecting all the data streams coming in – just one tool and one interface. LogStream provides us with excellent visibility and it lets us know when something is wrong with ingest. We just have to look at LogStream."
Siddhartha Dadana, Director of Information Security Engineering at FINRA
"When we first evaluated LogStream, we were just trying to solve a single problem...but now we are starting to up the game in terms of what we can do."
Cack Wilhelm, Partner, IVP
"Companies now realize the value of storing and analyzing observability data – for IT and security – but until Cribl, had no way to do that while still managing cost and ensuring flexibility. Cribl was engineered to help solve this problem. Customer after customer has assured us that the value prop is crystal clear, but only after gushing praise on the team!"
Suman Natarajan, Venture Investing, Citi Ventures
"Today, large organizations rely on a number of tools to support everything from data management to security, but oftentimes these processes work in silos without easy ways to gather and relay valuable data across departments. Cribl's technology expertly mines various sources of data and routes it to the correct team, helping companies identify threats more quickly and resolve issues faster. Citi Ventures is excited to support Cribl as it continues its work to enable organizations to be more resilient and secure."
Pat Grady, Partner at Sequoia and Cribl Board Member
"Much as Snowflake became the aggregation layer for business data, Cribl is quickly becoming the key aggregation layer for machine data. We're thrilled to double down on our partnership with Clint and his talented team."
Max Gazor, General Partner at CRV
"Cribl's exceptional customer focus continues to drive their business momentum. CRV is fortunate to have been an investor since the seed stage, and is quadrupling down with our investment this round."
Cribl is a company built to solve customer data challenges and enable customer choice. Our solutions deliver innovative and customizable controls to route security and observability data where it has the most value. Our solutions help slash costs, improve performance, and get the right data, to the right destinations, in the right formats, at the right time. Cribl helps you instrument everything, so you can analyze more and pay less. Join the dozens of early adopters, including leaders such as TransUnion and Autodesk, to take control and shape your data. Founded in 2017, Cribl is headquartered in San Francisco, CA. For more information, visit www.cribl.io or our LinkedIn, Twitter, or Slack community.
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