Title: Cribl Raises $319M in Series E Funding, Valued at $3.5B - GV Leads Investment Round
San Francisco-based data infrastructure startup Cribl has secured a massive $319 million in a Series E funding round, with GV leading the investment alongside GIC, CapitalG, IVP, and CRV. This funding round brings Cribl's total raised to $600 million, and values the company at an impressive $3.5 billion - a 40% increase from their Series D valuation in 2022.
The investment from GV is one of the largest in the venture capital firm's 15-year history, and as part of the deal, GV general partner Michael McBride will be joining Cribl's board of directors.
Cribl's software is in high demand as it helps companies analyze, collect, process, and route IT and security data to various systems and databases. With the exponential growth of corporate data in recent years, companies are increasingly seeking out "data ops" and orchestration solutions. It is estimated that by 2025, 80% of worldwide data could be housed within enterprises.
With 25% of the Fortune 500 as clients and annual recurring revenue surpassing $100 million, Cribl is experiencing substantial growth. The company's customer base has seen triple-digit growth year-over-year for the past five years, with ARR climbing 163% CAGR in each of the last four years. Although not yet cash-flow positive, Cribl aims to achieve profitability by 2025, with plans for a potential IPO in the future.
In summary, Cribl's recent funding round and valuation highlight the increasing importance of data infrastructure and management in today's corporate landscape. As the company continues to grow and expand its offerings, investors and stakeholders should keep a close eye on Cribl's progress, as it could have significant implications for the tech and data industries.