SaaS observability platform Observe raises $70 M

Observe Inc., a software observability platform for software-as-a-service (SaaS) companies, secures $70 million, bringing the total capital to $114.5 million. Sutter Hill Ventures (SHV), Capital One Ventures, and Madrona Ventures invested in the funding round.

Observe also claimed that it has tripled its customer base in the last year and increased its monthly active users (MAUs) by five times. Customers currently send over 40TB of data every day to Observe. Users run over 25 million queries every day, scanning about one trillion rows from over ten petabytes of data.

“We’re delighted to continue to partner with our existing investors–Sutter Hill Ventures and Madrona Ventures–and welcome Capital One Ventures in this latest funding announcement. Observe has taken a unique, data-centric, approach to Observability and is starting to deliver tangible business and cost benefits for almost 50 customers,”

Jeremy Burton, CEO of Observe

Observe also revealed new product capabilities that allow users to explore “Data Universe Maps,” which are rich visualizations of all of Observe’s datasets and their relationships.

In addition, Observe launched new context-sensitive dashboards that give users a single picture of their system’s overall health while also drilling down into underlying event data to start an inquiry.

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