Observe's platform aims to solve the challenge of siloed data in enterprise technology stacks, bringing all data into a single, low-cost data lake for faster troubleshooting and incident resolution. The company, founded in 2017 by executives from Snowflake, Splunk, Wavefront, and Roblox, has around 60 paying customers and has seen its annual contract value more than double every year. The latest funding will be used to expand the sales team to meet growing demand.
Key takeaways:
- Observe, a startup offering a unified observability cloud for application troubleshooting and incident resolution, has raised $50 million in series A3 debt financing led by Sutter Hill Ventures.
- The company has also launched the latest version of its platform 'Hubble', which features a revamped interface and new generative AI tools that can improve user productivity by up to 25%.
- Observe's solution brings all data to one place, compresses it 10x, and stores it for 13 months, allowing for faster troubleshooting and incident resolution.
- Despite competition from well-funded players like Datadog, Dynatrace, New Relic, Grafana and Splunk, Observe differentiates itself by eliminating silos of logs, metrics and traces and storing everything in a single, low-cost data lake.