Today, Cribl surpassed $100 million in annual recurring revenue (ARR), becoming one of the fastest companies to ever reach this milestone in under four years––an incredible achievement on our journey to building a generational company. Reaching $100 million in ARR so quickly shows that our unique approach and steadfast focus on IT and Security continues to be validated by the market. Very few companies ever reach $100 million in ARR, and we’re grateful for the trust our customers, partners, investors, and employees have put in Cribl. We’re now leaving the startup camp and entering the world of scaling enterprises, and as a future public company we know the best is yet to come.
While this milestone validates the value we deliver to customers, what makes us most excited is the opportunity to continue to work together with our customers and partners to build the future of data for IT and Security. There is a massive opportunity in the market for products purpose-built for IT and Security, and we’re excited to continue to deliver innovative solutions that solve our customers’ hardest problems.
Cribl does differently. From our founding, we’ve looked at the market from a first principles perspective and sought out opportunities to build something entirely new. We find the hardest problems our customers are facing that are not being met by other companies, and we go after those problems aggressively. When we started this journey back in 2018, it was clear that IT and Security teams needed to process data differently. The one-size-fits-all products on the market didn’t meet their unique needs and we viewed this as an opportunity to build fit for purpose products for IT and Security.
That’s why we built Cribl Stream, which has empowered customers to more effectively and securely manage rapidly growing volumes of data. When we first launched Cribl Stream, we were a small company but we knew we had a product that was something very different than what was in the market. Customers knew that what got them through the past decade was not going to get them through the next decade, and Cribl Stream gave them a new way to collect, process, and route their data. We quickly realized how powerful it is to give customers choice and control over their data––something that was missing in the market and provided a ton of value to customers.
Taking a different approach continues to inform how we build products to this day. Our newest product, Cribl Search, flipped the legacy search model on its head. We gave customers the power to search data in place. No longer do customers have to collect and store data before they can analyze it. Instead, they can search for the valuable nuggets without the cost and complexity of having to ingest all raw data. As we look ahead to our upcoming products, we remain committed to doing different to meet our customers’ unique needs.
As we pass this significant milestone, we’re focused on strategic growth that serves our customers. To that end, we’ve just launched Cribl.Cloud in Europe to bring our full suite of products to global customers. Effective today, Cribl Stream, the industry’s leading observability pipeline, Cribl Edge, an intelligent vendor-neutral agent, and Cribl Search, the industry’s first search-in-place solution, are available in Europe via Cribl.Cloud. This new international cloud region, located in Germany, also brings all the advantages of a local cloud region to our customers, including supporting low latency architecture, saving on data transfer costs, and enhancing data security. We’re also happy to share that Cribl has achieved SOC 2 Type II and ISO27001 certifications, is fully compliant with the European Union’s General Data Protection Regulation, and we’ve brought on team members located throughout the region to better support our customers locally.
We’ve also added two key leaders to our executive team: Matthew Kelly, a former leader at ServiceNow from IPO to $1 billion in revenue and most recently at ThoughtSpot, joins as our SVP of Legal, Security, and IT; and Dr. Grigori Melnik, a former product leader at companies like Microsoft, Splunk, MongoDB, and Tricentis, joins as our SVP of Product. We brought Matthew and Grigori on board to accelerate our growth and innovation, and help us bring even more value to our customers. Security and product are two areas that are critical to our customers’ success, and we’re glad to have industry experts like Matthew and Grigori leading the charge.
While this is a significant milestone, it’s just a pitstop on our journey to building a generational company. We’re transitioning from an observability company to the data engine for IT and Security, bringing our multi-product suite to customers across the globe. We are continuing to invest in our products and our people, and we are strategically positioned with our customers to handle all of their data with an engine that is truly built just for them and their unique needs.
We won’t be stopping here. We’re just getting started. We’re here to build the future of data for IT and Security.
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