Breaking News: Checkly Raises $20 Million in Series B Funding Round to Revolutionize Observability and Monitoring Tools for Developers
In a recent study by Dynatrace, it was found that 88% of tech leaders are struggling to manage the increasing complexity of their tech stacks, leading to challenges in delivering a satisfactory customer experience. This has created a huge demand for observability and monitoring tools in the software development industry.
Enter Checkly, the observability and monitoring company founded by CEO Hannes Lenke, which offers a cost-effective solution for developers to monitor APIs and software. With a set of subscription-based synthetic monitoring tools, Checkly allows users to detect potential problems, define monitoring as code, and resolve issues faster than ever before.
In response to the growing demand for their platform, Checkly recently secured $20 million in a Series B funding round led by Balderton Capital, with participation from Accel and CRV. This brings their total raised funds to $32.25 million, which will be used for product development, team expansion, and opening a new office in New York.
Analyzing the impact of this funding round, it's clear that investors are recognizing the value of Checkly's innovative approach to observability and monitoring. With over 1,000 paying customers and 32.5 million checks performed daily, Checkly is poised to disrupt the market and help developers worldwide improve their software performance and customer experience.
In conclusion, Checkly's success story highlights the importance of investing in cutting-edge technology solutions that can drive business growth and success in today's digital age. By leveraging tools like Checkly, developers can stay ahead of the curve and ensure their software performs at its best, ultimately benefiting their bottom line and overall success.