DEVOPSdigest

Grafana Labs announced a $240 million Series D round of investment led by GIC, with participation from new investor J.P. Morgan.

GIC, Singapore’s sovereign wealth fund, made its initial investment in Grafana Labs’ Series B round in 2020.

“Grafana Labs is a strong, product-led company that has built a committed customer base and has significant adoption,” said Choo Yong Cheen, GIC’s CIO for Private Equity.

This round also marks the addition of J.P. Morgan as an investor. All other existing investors – Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital – participated in this round, just seven months after the company’s Series C.

“Grafana Labs delivers a well-known and adopted observability stack. In evaluating Grafana Labs as an investment opportunity, we were able to draw on our relationship, along with detailed analysis on the broader market, vendor landscape, and customer input. It’s clear that customers and prospects see both short-term and long-term success working with Grafana Labs and, with our investment, we are happy to enable Grafana Labs to continue to grow and scale,” said Elena Zislin, Managing Director, J.P. Morgan.

With this round of investment, Grafana Labs CEO and Co-founder Raj Dutt said, “Our plans are simple: aggressively deliver on our product roadmap and our commitment to embracing the big tent — enabling our users to compose and visualize data from any source — while continuing to build out modern observability capabilities across metrics, logs, tracing, and more. We are committed to the continual release of impactful open source software, bringing many new capabilities to market, and constantly listening to the community and our customers to drive innovation.”