Observe raised $70M

Observe, a company visited by The IT Press Tour in March, just announced a new round of VC funding, raising this time $70 million for its Series A round reaching a total of $114.5 million still with Sutter Hill Ventures and a few others.

The company, led by Jeremy Burton, demonstrated a rapid growth recently confirming users' interest - around 50 paid customers - for a solution that goes beyond classic monitoring and visualization.

To refresh our readers, Observe is a SaaS player developing a new category named Observability that goes beyond classic log analytics, infrastructure monitoring, and application performance management. The global idea is to understand data and extract value from to deliver and expose compelling information not seen before.

Today Observe ingests 40TB of data per day, executes 25M queries per day scanning 1 Trillion rows on over 1 PB of data. Pretty small but it growing and the company the relies today on Snowflake is a perfect candidate to consider data warehouse approach like Ocient dedicated to hyperscale needs.

With this announcement, Observe also new features such

• Data Universe Maps providing rich visualization of observability data and relationships,
• Context-Sensitive Dashboards which enable users to drill down into related content and begin investigations,
• "Out-Of-The-Box" Apps for Kubernetes, AWS, Jenkins & more so users can get started & enjoy pre-build content in minutes,
• In-Product Dashboards providing full transparency into Observe credit usage