SAN MATEO, Calif., June 13 (Bernama-GLOBE NEWSWIRE) —SignalFx, the leader in real-time cloud monitoring and observability for infrastructure, microservices, and applications, today announced it has raised $75 million in Series E funding led by Tiger Global Management with participation from existing investors. The primary equity financing brings total funding raised to $179 million and will accelerate product development and the company’s rapid global expansion.
SignalFx’s growth comes as organizations have increasingly turned to cloud-native technologies such as microservices, containers, Kubernetes and serverless functions to speed their rate of innovation. SignalFx’s annual revenues have increased by a compound annual growth rate of 170 percent since sales began in 2015 as traditional monitoring tools have failed to keep pace with new requirements for speed, scale and automation. According to Gartner, by 2022, more than 75 percent of global organizations will be running containerized applications in production, up from fewer than 30 percent today.