Company Tripled Customer Base, Boasted 300% Increase Year-Over-Year in Annual Recurring Revenue, and Expanded Leadership Team with Industry Veterans
SAN FRANCISCO, February 15, 2022 — Cribl, the leading Observability Pipeline company, today announced the results of its 2021 fiscal year, which was marked by surging customer demand, massive employee growth, and major funding, illustrating the soaring momentum of the observability category. The company more than tripled its number of customers, with 10 of the Fortune 50 companies signing on as Cribl customers, and expanded its team by over 300%, setting the stage for an outstanding FY2022.
“2021 was a breakout year for Cribl, and our results validate that our unique approach to observability is resonating, even in a competitive market,” said Clint Sharp, CEO and co-founder of Cribl. “Today’s enterprises have more data than ever before, but they lack the choice and control needed to make meaningful use of it. We’ve helped many customers solve that problem through our open and flexible solution. We’re proud of our undeniable momentum, and we remain focused on continued innovation and growth so that we can empower more customers around the world to unlock the value of all their observability data.”
Financial Highlights, Customer Wins, and Industry Recognitions:
- Rapid customer growth: Cribl tripled its customer base, adding new brands such as Siemens EDA (formerly Mentor Graphics), New Balance, ReliaQuest, SpyCloud, and Vodafone New Zealand, with average deal size increasing by nearly 50% year-over-year.
“We love that Cribl is simple and fast to use. The intuitive software makes our team’s experience of integrating logging sources and destinations quick and easy,” said Josh Reedy, Security Services Manager at Vodafone New Zealand. “The flexibility of Cribl is helping us to reduce costs and enable our teams to work on high value data.”
- Fast-growing subscription business: Cribl achieved 300% increase year-over-year in annual recurring revenue (January 31, 2022 over January 31, 2021).
- Continued interest from the investor community: In August, Cribl raised $200 million in Series C funding, led by Greylock and Redpoint Ventures, joined by new investor IVP, existing investors Sequoia and CRV, and with strategic investment from Citi Ventures and CrowdStrike.
- Industry recognition: Cribl was named a Cool Vendor by Gartner, a 2021 AWS Rising Star ISV Partner of the Year, and a Cloud 100 Company by CRN.
Expanded Leadership Across the Business:
- Engineering: Gunther Hagleitner joined in January 2022 as Vice President of Engineering and Product, to support innovation and expand Cribl’s product portfolio to serve a broader set of customer needs. He brings 20 years of experience, including most recently serving as Vice President of Cloudera.
- Sales: Jim Cavanaugh, former President of Asia Pacific and Japan at AppDynamics, joined Cribl to run the Americas sales team, and Patrick Wade, former Vice President Sales Engineering at AppDynamics, now runs Global Sales Engineering. Zachary Kilpatrick, formerly Vice President of North America Alliances at Okta, was appointed to lead Global Channels.
- Recruitment: Mike Podobnik joined Cribl as Vice President of People to support the company’s fast growth and ongoing hiring efforts. He comes from Confluent, where he was leading Talent and Employee Experience.
- Operations: Farrah Bui, formerly Chief of Staff, was promoted to Vice President of Business Operations, and Jerry Sharum was promoted to Vice President of Legal.
- LogStream 3.0: Cribl unveiled LogStream 3.0, the latest version of the company’s flagship solution for making multi-system observability a reality for any organization.
- LogStream Cloud: Cribl launched LogStream Cloud, a first-of-its-kind cloud service that enables organizations to centrally manage, configure, monitor, and orchestrate observability infrastructure deployed anywhere in the world.
- AppScope: Cribl introduced AppScope, an open source solution that gives operations, security, and SRE teams black box instrumentation for any Linux binary.
Cribl is a company built to solve customer data challenges and enable customer choice. Our solutions deliver innovative and customizable controls to route observability data where it has the most value. Our solutions help slash costs, improve performance, and get the right data, to the right destinations, in the right formats, at the right time. Cribl helps you instrument everything, so you can analyze more and pay less. Join the dozens of early adopters, including leaders such as Autodesk, Siemens EDA (formerly Mentor Graphics), New Balance, TransUnion, and Vodafone New Zealand, to take control and shape your data. Founded in 2017, Cribl is headquartered in San Francisco, CA. For more information, visit www.cribl.io or our LinkedIn, Twitter, or Slack community.