Investment firm Sequoia Capital and hedge fund Coatue led a $220m funding round in Grafana Labs, valuing the enterprise software maker for data visualization at around $3bn.
Existing investors Lightspeed Venture Partners, Lead Edge Capital and Singapore sovereign wealth fund GIC also participated in the series C round, New York-based Grafana said in a statement on Tuesday.
The latest round values the company at more than ten times its series A valuation two years ago, Grafana said.
Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
More than 1,500 customers, including PayPal Holdings Inc , J.P. Morgan Chase, eBay Inc and Bloomberg, use Grafana’s technology that allows them to make better sense of their data and easily spot trends through graphics.
Grafana said it has doubled its headcount since the beginning of the year, and has employees working in over 40 countries.
It said Carl Eschenbach, partner at Sequoia, and David Schneider, general partner at Coatue, will join its board as part of the funding agreement.
Source: Market Screener
Can’t stop reading? Read more
JPMorgan to arrange $6.5bn debt package for 3G Capital’s Skechers acquisition
JPMorgan to arrange $6.5bn debt package for 3G Capital’s Skechers acquisition JPMorgan is...
Ares targets $2bn+ for new Asia special situations fund amid regional credit expansion
Ares targets $2bn+ for new Asia special situations fund amid regional credit expansion Ares...
Partners Group and Sella launch Italy’s first evergreen private equity ELTIF fund for retail investors
Partners Group and Sella launch Italy’s first evergreen private equity ELTIF fund for retail...