What an Amazing Year
It has been a very busy and thrilling year at Instana, and I’m honored to have been involved in our impressive momentum and growth. In December, only nine months ago, we announced our Series B funding round for $20M led by venture capital firm Accel, with participation from German venture firm Target Partners, who led Instana’s initial investment. Today, I am excited to share that we announced additional funding through a Series C round of $30M that also brings a new investor, Meritech, to the team. That makes our total raised to date $57M. Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams.
As we see with our growing enterprise customer base each day, the need for dynamic, automated monitoring solutions has never been greater. As the industry continues to adopt a DevOps culture and organization in combination with Agile methodologies as part of the broader digitization movement, it has become painfully obvious that traditional monitoring can no longer keep pace with the complexity and scale of advanced application environments run by enterprises daily. Software-defined businesses require solutions to protect them from outages and bad user experiences – which is exactly what we continue to deliver to our customers across the globe. As the market opportunity shifted to microservices and DevOps, our solution was poised to be the first and only automatic APM.
Building on Our Success So Far
This fundraising serves as a strong proof point of the momentum we are creating as a team committed to delivering on our vision of monitoring the world’s most dynamic and modern application environments. Our automated solution, a truly innovative monitoring tool based on our next generation technology, is successfully helping customers globally to analyze, monitor and manage their containers and microservices. This has been our greatest success as a team so far and the numbers say it all. With Instana’s revenue growth of nearly 600% over the past year, it is clear that enterprises are looking for automated monitoring solutions to help them keep the dynamic change under control.
We now have the opportunity to work with one of the best growth VCs, Meritech, and with the support of a new board member from Meritech, Alex Kurland. We intend to use the funds to help us reach and support companies in all industries, and all geographies. Specifically, we will extend our reach through an expanding ecosystem of partners and will ramp our sales and marketing efforts to support customer demand globally. We will also invest in our world-class R&D team to keep the pace of innovation and deliver new functionality to support DevOps teams to deliver their applications faster and in better quality.
This is an exciting time for us all at Instana as it represents further validation of our vision and efforts and allows us to add new capabilities to focus on what we do best – leverage our automation and apply intelligent analysis to the problem of monitoring dynamic containerized microservice applications.
We are exhilarated and grateful for the support Instana is receiving from customers, partners and investors as it’s a strong endorsement of the work all members of the Instana team do each day. This team is the core of our success and I am extremely proud on all of my colleagues and co-founders who made this success happen. Your unique skills, undying passion for the needs of customers, and continuous sacrifices have launched Instana into the unstoppable momentum we are experiencing.
None of this would be possible without the continued support of our existing, and new, investors, our customers, and our passionate employees who continue to put the needs of the customer first. Thank you.