Cribl, the Data Engine for IT and Security, announced it has closed a $319 million oversubscribed Series E round, empowering the company to broaden its footprint, accelerate product development, and strengthen its infrastructure to support its rapid expansion.
“As practitioners who worked in this space for years, my co-founders and I know firsthand the challenges facing IT and security as data grows exponentially. What worked over the last ten years simply cannot keep up with the needs of businesses today, let alone over the next ten years,” said Clint Sharp, co-founder and CEO of Cribl. “We started Cribl to solve these real problems for real users. Today’s funding proves the value in that approach. It’s an incredible milestone, but only a step in our journey to create a generational company that will continue to evolve to meet our customers’ needs.”
The funding round is comprised of a combined primary and secondary transaction, bringing the company’s total capital secured to over $600 million and increasing its valuation to $3.5 billion, up 40% since the company’s Series D round in 2022.
The round was led by new investor GV (Google Ventures), marking one of the firm’s largest-ever investments. The investment was led by GV General Partner and former GitLab CRO Michael McBride, who joined Cribl’s Board of Directors. GIC, CapitalG, IVP, and CRV also participated in the round.
This funding comes on the heels of Cribl surpassing $100 million in annual recurring revenue (ARR) in less than four years, becoming the fourth-fastest infrastructure company to reach centaur status in October 2023, according to the company.
Cribl’s vendor-agnostic solutions empower customers to analyze, collect, process, and route all IT and security data to unlock its value.
Since its inception in 2018, Cribl has seen unparalleled growth as enterprises around the world rapidly adopt the Data Engine for IT and security to transform their data strategies.
GV’s support of Cribl is significant, marking one of the largest investments in the firm’s 15-year history, Cribl said.
With more than 700 employees worldwide, Cribl is actively expanding its business footprint, with a presence in the U.S., Europe, and Australia.
For more information about this news, visit https://cribl.io.