Red Hat unveiled updates across its portfolio of developer tools designed to help organizations build and deliver applications faster and more consistently across Kubernetes-based hybrid and multicloud environments.
Lumigo announced $29M in new funding.
The Series A round brings Lumigo's total funding to $37M, and was led by RedLine Capital, with the participation of Wing Venture Capital, Vertex Ventures US in addition to existing investors Pitango First, Grove Ventures and Meron Capital. Lumigo, which began by focusing on automated distributed tracing for serverless cloud services like API Gateway, DynamoDB, Kinesys, S3 and Lambda, also announced the expansion of its SaaS observability product to containers, Kubernetes and Virtual Machines.
"Cloud-native applications are more complicated and more sophisticated than ever, making effective monitoring and troubleshooting even more critical," said Erez Berkner, Lumigo Co-Founder and CEO. "The new investment will ensure Lumigo remains the most versatile, powerful and accessible cloud-native observability platform, helping tens of thousands of developers understand how their applications behave in the real world."
Since leaving stealth in 2019, Lumigo's user base has grown sharply; the product is used by hundreds of companies, including Medtronic, Sonos, Vimeo, and A Cloud Guru (a Pluralsight company), to observe, understand and debug their serverless applications in production. Increasingly, though, tech companies are opting for hybrid applications, which use a mix of serverless and non-serverless components.
"Today's cloud-native applications use a mixture of serverless components, containers and managed services, which also increases the complexity of the applications." said Lumigo Co-Founder and CTO, Aviad Mor. "When something is broken or too slow, the service that fails isn't necessarily the source of the problem."
Lumigo's agentless distributed tracing allows developers to visualize every request in their cloud-native application, as it moves from service to service. The platform's automated no-code integration allows developers to connect and use Lumigo within minutes.
Lumigo will use the new investment to double its 30-person core team, in particular building the Marketing and Product groups, bringing on leaders in both domains, and recruiting more developers.
"Correlating millions of log lines, traces and metrics across distributed services is pretty close to impossible, and just gets harder with scale. Lumigo's offering solves an ever-growing problem for cloud-native applications; understanding applications as more than just the sum of their parts," said Benno Jering, Partner at Redline Capital.
"Developers and DevOps teams are flocking to Lumigo because it is the most advanced, fullest-featured observability platform for serverless and cloud-native" said Peter Wagner, Founding Partner of Wing Venture Capital. "Helping to accelerate authentic product-led growth in technical markets is a top priority for Wing..."