Meet Unravel Data. The California-based big data software provider has secured $35 million (£27.1m) in a series C funding round – with the aim of revamping the application performance management (APM) space.
The round was led by Point72 Ventures, with participation from Harmony Partners, as well as existing investors Menlo Ventures, GGV Capital, and M12, formerly Microsoft Ventures.
The company’s vision is based around the thesis that the current leaders in the APM and log management market – AppDynamics, New Relic, Splunk et al – are not able to keep up with modern, data-driven, AI-enabled IT architectures. Among the company’s customers offering full stack observability for Azure, AWS, as well as big data platforms Cloudera, Hortonworks and MapR, are Deutsche Bank, Neustar and, perhaps not altogether surprisingly, Microsoft.
“CIOs in our network told us story after story of traditional application monitoring tools failing in a big data context because those tools were designed for the world of the past,” said Matthew Grande, chief market intelligence officer at Point72. “This new architecture requires a different product, one built from the ground up to focus on the unique challenges posed by big data applications.
“Unravel is poised to capture this emerging big data APM market,” added Grande.
The funding comes alongside various indicators of the company’s success. In what PR types call ‘momentum announcements’ – because there is not any news to speak of – the company cites annual recurring revenue (ARR) growth of 500% and the launch of Microsoft Azure and AWS cloud partner ecosystems as particular highlights.
Ultimately, there is major currency in making the most out of the deluge that is organisations’ data capacity. For some vendors, it is all about helping their customers filter the signal from the noise and glean insights on their data. For others, such as Unravel, it is about stability in performance.
“Every business is becoming a data business, and companies are relying on their data applications such as machine learning, IoT, and customer analytics, for better business outcomes using technologies such as Spark, Kafka, and NoSQL,” said Kunal Agarwal, Unravel Data CEO. “We are making sure that these technologies are easy to operate and are high performing so that businesses can depend on them. We partner with our customers through their data journey and help them successfully run data apps on various systems whether on-premises or in the cloud.”
Total funding for the company now stands at $57.2 million.
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