Grafana Labs, the maker of the famous Grafana visualization tools (as well as a contributor to other open source projects like the Prometheus monitoring system), has secured a $240 million Series D financing. The round was headed by GIC, Singapore’s sovereign wealth fund, with participation from current investors Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital, as well as new investor J.P. Morgan. The firm has now raised $540 million in total, including its $220 million Series C in August. Grafana didn’t reveal a new value this time around, but when it raised its Series C, the business indicated its valuation was $3 billion at the time.
Grafana currently has over 900,000 active installations and 10 million global users, according to the business. Bloomberg, JP Morgan Chase, eBay, PayPal, and Sony are among the more than 2,000 paying clients of the business, which has grown by 25 times over the previous six years. Grafana is most known for its open source visualization tools and dashboards, but it has recently added tools like Loki for logging, Tempo for tracing, and Mimir for monitoring.
“Grafana Labs provides an observability stack that is well-known and widely used. We were able to use our connection, as well as comprehensive industry research, vendor landscape analysis, and customer feedback, to evaluate Grafana Labs as an investment possibility. Customers and prospects clearly see short- and long-term benefits from collaborating with Grafana Labs, and we’re glad to help them develop and scale with our investment,” said Elena Zislin, managing director at J.P. Morgan. Grafana monetizes its products by selling a range of fully managed services with a subscription plan, as well as a self-managed enterprise stack, similar to other open source firms (and a free plan to get users started).
“Aggressively deliver on our product roadmap and 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,” said Raj Dutt, CEO and co-founder of Grafana Labs. “We’re dedicated to releasing significant open source software on a regular basis, bringing numerous new features to market, and listening to the community and our customers to drive innovation,” says the company.
