Cloud Monitoring Firm Dataloop.IO Raises $5 Million in Series A Funding
Cloud monitoring firm Dataloop.IO has raisesd $5 million in Series A financing to ramp up product development, sales and marketing, according to Monday’s announcement.
The funding from Battery Ventures and European VC firm Open Ocean will also help the company open a new headquarters in San Francisco to attract talent and grow US sales. Dataloop.IO had previously raised $1.2 million in seed capital funding.
Dataloop.IO said that its monitoring tool is different from competitors in that many people in an organization can use it – not just IT. Customers can standardize and consolidate all monitoring functions into one solution, according to the company.
“Today, organizations and DevOps teams are managing data and building applications more quickly than ever with new methods, at huge scale, both on- and off-premise,” Dataloop.IO co-founder and CEO David Gildeh said in a statement. “In this world, you need to provide monitoring as a self-service solution, or risk losing agility as the number of teams relying on your monitoring solution grows. Dataloop.IO is the only solution designed to solve this problem from the ground up.”
Dataloop.IO customers include Salesforce, BBC Worldwide, and Moz.
“Dataloop.IO is at the forefront of some of the biggest trends shaping IT today, such as the rise of cloud computing and microservices,” Richard Muirhead, the general partner leading Open Ocean’s investment said. “As every business becomes a software business, the need for more-modern, and self-service monitoring tools becomes even more acute. I am convinced Dataloop’s team is the right one to tackle the problem.”