Stackdriver announced today that it has raised a $10 million Series B round of funding. The latest round was led by Flybridge Capital Partners. Bain Capital Ventures, who led the $5 million Series A round just last August, also returned as an investor for the latest round.
In addition to the funding, Stackdriver, which provides management solutions for cloud-based applications like Amazon Web Services and Rackspace announced that their Stackdriver Intelligent Monitoring product will be made generally available. Intelligent Monitoring is a monitoring-as-a-service solution that "uses advanced analytics to proactively identify performance issues and bottlenecks within distributed applications."
Both announcements coincide with the Gigom Structure:Europe where Stackdriver is featured in the event's Startup Zone.
Stackdriver was launched last year to help companies understand the performance of their applications running on the public cloud. Also, as Izzy Azeri, one of Stackdriver's founders said, "There was no tool that was built from the ground up for this new public cloud era."
"What we did was we got together a team of experts in infrastructure and systems software and created Stackdriver."
"We had so much demand for the product that we came out of beta earlier than we expected, and we raised money earlier than expected," Azeri said.
As Dan Belcher, Stackdriver’s Co-Founder said in the press release to announce the news, “The rapid rise of new infrastructure platforms and new application architectures have rendered legacy management models and tools obsolete.”
“Cloud-native applications require solutions that handle hosted services, elastic capacity, and distributed architectures effortlessly, and this is what we try to be really good at.”
Chip Hazard, a General Partner from Flybridge Capital Partners, will join Stackdriver’s board as part of the investment.
“We’re very excited to have Chip Hazard from Flybridge join the team,” said Azeri, “his expertise in reaching millions of engineers around the world has already proven invaluable.”
As Azeri explained, Hazard was one of the earliest investors in MongoDB, which is one of the most popular open-sourced databases for developers.
"We think that Chip adds a lot to our go-to-market model because of his ability to get large amounts of developers to adopt a technology like Mongo," Azeri said.
"So we are going to try to use his approach and do similar things."
Dennis Keohane is a staff writer for VentureFizz. You can follow Dennis on Twitter (@DBKeohane) by clicking here.