Since launching in 2010, DataDog, the leading SaaS-monitoring platform for cloud applications, has helped companies turn their IT data into actionable insight. Accordingly, DataDog has racked up an impressive roster of clients, including corporations such as Airbnb, Netflix, Twilio, EA, Spotify and Warner Bros. Today, the company announced a massive $94.5 million Series D round, further solidifying its place in the B2B tech market.
The round was led by ICONIQ Capital with participation from Index Ventures, OpenView Ventures, Amplify Partners, Contour Ventures and other equity holders. The company plans to use the funding for product research and development as well as expand its international presence in Europe, Asia and the Americas.
“Datadog is leading the way in how enterprises deploy and monitor their increasingly dynamic infrastructure,” said Shardul Shah, Datadog board member and partner at Index Ventures, in a statement. “We started the journey together with a beautifully-designed, easy-to-use product that delivered value to customers very quickly. We have incredible momentum, and we're looking forward to tackling an enormous opportunity to drive the cloud infrastructure management market globally.”
Datadog’s cloud monitoring functionality allows companies to easily synthesize the important metrics from their apps, tools and service all in one place. As such, the platform is extremely useful to help operations and development teams avoid downtime, resolve performance problems and ensure that development and deployment cycles finish on time.
“Datadog is fortunate to count some of the most well-known names in the enterprise among our customers, and we will continue to focus on expanding integration and finding new ways to monitor cloud applications to optimize enterprises’ legacy and cloud infrastructures,” said Olivier Pomel, co-founder and CEO of Datadog, in a statement. “This new funding will allow us to bring new products to market and to continue our international expansion to keep up with market demand as the transition to public and private cloud platforms keeps accelerating.”
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