SignalFx raises US$75 million to fuel product development

KUALA LUMPUR, June 13 (Bernama) -- SignalFx has raised US$75 million in Series E funding, led by Tiger Global Management with participation from existing investors. (US$1 = RM4.16)

The primary equity financing raises total funding to US$179 million and will accelerate product development and the company’s rapid global expansion.

SignalFx chief executive officer, Karthik Rau said: “SignalFx is at an inflection point in its growth as organisations are investing aggressively in their cloud and digital transformation initiatives and re-evaluating their systems management and monitoring strategies.

“The additional capital from this financing allows us to invest even more in our industry-leading products while also extending our go-to-market reach to more organisations around the world.”

SignalFx’s growth comes as organisations have increasingly turned to cloud-native technologies such as micro-services, 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 per cent since sales began in 2015, as traditional monitoring tools have failed to keep pace with new requirements for speed, scale and automation.

-- BERNAMA