Data has become a double-edged sword in the enterprise. Spurred by the growth of remote work, companies are now collecting and storing vast amounts of observability data. Despite this, stakeholders are struggling to make use of the data, with 86% of IT leaders admitting in an IDG survey that they find it challenging to optimize their resources.
Data observability startup Cribl today announced that it raised $200 million in series C funding led by Greylock and Redpoint Ventures, with participation from VP, Sequoia, CRV, Citi Ventures, and CrowdStrike. CEO Clint Sharp says that the new capital — which values the company at over $1 billion — will be used to grow Cribl’s business, recruitment, and operations teams, following deals with large customers including Fannie Mae and Cox Automotive.