BOSTON, MA, Today LogRocket announces that it has raised $15 million in Series B funding.
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LogRocket, makers of the first front-end application performance management (APM) solution, today announced the launch of LogRocket Metrics, the next step toward the world's first complete front-end APM platform. The company also closed its Series B round of funding, led by Battery Ventures, and unveiled details of new customer acquisition.
LogRocket introduces LogRocket Metrics as the first APM solution built specifically to understand the complex issues that arise in web applications. It uniquely ties together session replay and APM in an easy-to-use dashboarding solution that anyone can use, regardless of technical ability.
When it comes to understanding the impact, traditional APM tools require IT or product teams to write code to define a user transaction and measure performance. Even after the transaction is defined, companies still have to wait days or weeks to gather enough data to have statistical significance. With LogRocket Metrics, teams can easily define any user transaction in the UI and instantly see retroactive data. This allows them to understand how an issue affects customers so that it can be prioritized and addressed accordingly. Rapid resolution can result in increased sales due to a superior user experience versus losing customers who grow frustrated waiting for a page to load or transaction to be completed.
"More and more we're seeing that every company is now a software company, relying on software for their core business. We are on a mission to help those companies make their web experiences as perfect as possible," said LogRocket CEO, Matthew Arbesfeld. "By addressing performance on the front-end, we make it far easier for companies to identify and fix issues before they impact potential customers and cost companies sales."
New Funding and Rapid Customer Adoption Accelerates Growth Strategy
Today LogRocket also announces that it has raised $15 million in Series B funding. The round, like its recent Series A, was led by global investment firm Battery Ventures, with participation from seed investor Matrix Partners. Funds will be used to continue growing headcount, anticipated to more than double in the coming year, as LogRocket scales to meet demand. The company will also invest in continuing to expand the functionality of its first-of-its-kind solution, which offers companies unparalleled insight into user experience problems in their web applications.
Over the past six months, LogRocket has doubled its customer base, recently surpassing 1,000 customers, with particularly strong traction in SaaS, finance, healthcare, and government applications. Its easy, self-hosted option, which enables customers to forego the traditional SaaS offering and instead run LogRocket on their own servers, as well as LogRocket's commitment to data privacy has enabled the company to garner success in these often difficult to penetrate industries. With the additional funding, the company is primed to further accelerate adoption as new customers join the ranks of existing users such as AirBnB, Bloomberg, Reddit, Ikea, Brex, Kaplan, Cargurus, FDNY, and Waste Management.
"Monitoring front-end and back-end applications are very different processes, and must be seen as such. The LogRocket team understands this and is taking a fundamentally different approach," said Neeraj Agrawal, general partner at Battery Ventures. "LogRocket effectively addresses a problem developers have tried to solve for a very long time. Its technology makes APM totally painless in today's environments. The team also has bold future plans to help companies stay ahead, and we are excited to work with them to execute."
To learn more about LogRocket, please visit https://logrocket.com.
If you are interested in joining their growing LogRocket team, check out open positions here.
LogRocket was founded in 2016 by Matthew Arbesfeld and Ben Edelstein who were frustrated by how difficult it was to understand technical bugs and user experience problems. They created LogRocket to make every experience on the web as perfect as possible. LogRocket records everything users do on your site so you can reproduce bugs and fix issues faster. The company is backed by Battery Ventures and Matrix Partners. For more information, visit https://logrocket.com.