Instana, provider of a monitoring solution to automate application performance monitoring (APM), has raised $30 million in Series C investment led by Meritech Capital with participation from existing investor Accel. This brings the company’s total funding to $57 million.
The new investment will be used to fulfill increasing demand for Instana’s automated monitoring solution for containerized microservice applications across global markets and expand its product line.
“Instana has a steadfast commitment to delivering innovative monitoring built for modern dynamic application environments,” said Mirko Novakovic, Instana founder and CEO. “The addition of Meritech to Instana’s existing investors, Accel, and Target Partners, is a tremendous endorsement of our strategy and success, highlighted by rapid customer adoption and global annual sales growth of more than 600% in our last fiscal quarter. We’re thrilled to have such a strong set of investors and thought leaders supporting Instana.”
“Monitoring containerized microservice applications has become a critical requirement for today’s digital enterprises,” added Alex Kurland, Meritech Capital. “Instana is packed with industry veterans who understand the APM industry, as well as the paradigm shifts now occurring in agile software development. Meritech is excited to partner with Instana as they continue to disrupt one of the largest and most important markets with their automated APM experience.”
For more information, go to https://instana.com.