LightStep today announced $29 million in funding. The Series A round of $7.5 million was led by Redpoint; the Series B round of $20 million was led by Sequoia. Seed investors Cowboy Ventures and Harrison Metal participated in both rounds. LightStep will use the funding to accelerate product development and meet growing market demand.
Today LightStep emerged from stealth and introduced its first product, LightStep [x]PM, that is redefining Application Performance Management (APM) for enterprises like Twilio, Lyft, Yext, GitHub and DigitalOcean: http://www2.marketwire.com/mw/release_html_b1?release_id=1325064
"There is a seismic transformation taking place in software today. Enterprise software systems are becoming increasingly complex and heterogeneous. With the rise of microservices, organizations are drowning in data and struggling to keep up, much less staying proactive and informed about their systems," said Ben Sigelman, co-founder and CEO at LightStep. "Our mission at LightStep is to cut through the scale and complexity of today's software to help organizations stay in control of their systems."
Sigelman built and ran global-scale monitoring technologies at Google, including Dapper, an always-on distributed tracing system that analyzes more than 2 billion transactions per second. Sigelman is also the co-creator of the OpenTracing standard, part of the Cloud Native Computing Foundation.
Investors on LightStep
Sequoia Partner and LightStep Board Member Aaref Hilaly said: "Enterprise application software is in the midst of a sea change. Containers and microservices are redefining old categories and creating new ones. We could tell that LightStep is becoming the core platform for managing this new application environment. The clarity of the team's vision and their experience building scalable systems are unmatched. The customers are evangelical -- rarely do we see this level of commitment from enterprise customers, all of whom rely on LightStep [x]PM in production. With the industry moving towards microservices, we see a fast-growing enterprise market for LightStep's performance management solution."
Redpoint Partner and LightStep Board Member Satish Dharmaraj said: "The founders behind LightStep have an unrivaled understanding of the challenges companies face in managing services across large scale distributed systems. They've built an incredible product that delivers deep insights about application performance as well as an amazing team and culture that is nothing short of inspiring."
About LightStep
LightStep's mission is to cut through the scale and complexity of today's software to help organizations stay in control of their systems. Its first product, LightStep [x]PM, provides an accurate, detailed snapshot of the entire software system at any point in time, enabling organizations to identify bottlenecks and resolve incidents rapidly. LightStep is backed by Redpoint and Sequoia and is headquartered in San Francisco, CA. For more information, visit http://lightstep.com or follow at @LightStepHQ.