A year and a half ago we announced our Series A funding round that was led by venture capital firm Target Partners, with participation from codecentric AG, a leading German IT consulting firm. Today I am excited to share that we have secured a Series B funding round of $20M that also brings a new investor, Accel, to the Instana family. Accel specializes in investments with exceptional founders with unique insights, from inception through all phases of growth. In leading Instana’s Series B funding, Accel joins Target Partners, an early-stage venture capital firm based in Germany, who led the company’s initial investment.
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 AI-powered solution, a truly innovative monitoring tool based on our next generation technology, is successfully helping our customers around the world to analyze, monitor and manage their containers and microservices.
Since our inception, we have received strong interest in our solution by enterprises worldwide that have become frustrated by the limitations of current tools’ ability to keep up with the high rate of application change, visualize containerized environments, understand performance and analyze impact. Through innovations in real-time analysis and the application of AI, we have delivered a solution that represents the next-generation of APM monitoring, designed from the ground up to work in modern application environments. As such, we will continue to invest in facilitating high speed agile development and operations monitoring and lead the way into the next-generation of management tools, enabling IT to deliver services quicker and more efficiently. Our goal is to democratize APM, so that every possible persona in IT can get the value out of the powerful and intelligent information we get directly out of the application - in real time - without manual changes, configuration or the need to have expert users to manually correlate all the data.
We will use the new funds secured to address the growing demand for Instana’s AI-powered monitoring solution and invest in additional product research and development to ensure our innovations outpace the evolution of customers’ application developments today and tomorrow. We will also expand our partner ecosystem to ensure the highest levels of interoperability and integration with key technology partners and cloud vendors and we will fuel our global sales and marketing programs.
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 and to focus on what we do best – apply intelligent analysis to the problem of monitoring dynamic containerized microservice applications.
We are thrilled and grateful for the interest Instana is receiving from customers, partners and investors as it’s a strong endorsement of the work we all do each day. I would like to thank our investors for their confidence and support, and I’d also like to thank our growing number of customers around the world who serve as our closest and most trusted advisors. Finally, I would like to express tremendous gratitude to the entire team at Instana who I firmly believe is leading the evolution of APM solutions into the next generation. 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 to the needs of customers, and continuous sacrifices have launched Instana into the unstoppable momentum we are experiencing.