MENLO PARK, Calif., Jan. 23, 2018 (GLOBE NEWSWIRE) -- Unravel Data, the industry's only Application Performance Management (APM) platform designed for Big Data, today announced that it has secured $15 million in Series B financing led by GGV Capital, with Microsoft Ventures and Menlo Ventures also participating. This brings the company’s total funding to $23 million. The investment will be used to increase sales and marketing staff and boost product development. The funding will allow Unravel to help more enterprises optimize their growing Big Data deployments. In addition, Glenn Solomon, Managing Partner at GGV Capital, will join Unravel’s Board of Directors.
“Unravel Data has emerged as the clear leader in application performance management for Big Data systems. At GGV Capital, we seek to invest in innovators addressing huge markets with world class technology,” said Glenn Solomon. “We’ve spoken to several Unravel customers and prospects, and we’ve heard unanimously that Unravel’s performance management and visibility solution is a must have for Big Data environments, the return on investment is rapid and meaningful, and the technology is unique and best in class. Unravel’s growing list of customers across financial services, healthcare and technology are extremely happy, and the future is very bright for the company.”
“Unravel's AI-driven APM platform for Big Data applications has enormous potential for enterprise customers who are looking to build a self-healing application infrastructure,” said Rashmi Gopinath, Partner, Microsoft Ventures. “We're excited to support Unravel as they help the world's largest organizations get the most benefit from their Big Data deployments.”
Unravel is used to operationalize the Big Data stack and improve reliability of applications and productivity of Big Data teams while reducing cost of ownership. Customers include healthcare providers such as Kaiser Permanente, some of the world’s largest financial institutions, and data-driven technology companies such as Autodesk, YP and Leidos.
“We’ve reached an inflection point where enterprises are running mission critical applications on big data platforms across their organization. Now they’re looking for ways to ensure that their entire stack works like a well-oiled machine. That’s where APM comes in. Our customer base and revenue grew by 300% and we achieved a 100% renewal rate in 2017,” said Kunal Agarwal, CEO, Unravel Data. “We are thrilled to have strong partners such as GGV Capital and Microsoft Ventures join our team along with Menlo Ventures. The response from customers and investors makes it clear: the industry is ready for APM for Big Data.”
Unravel will add a Vice President of Sales and Vice President of Marketing in Q1 2018, and will expand its technology team in both India and Menlo Park.
About Unravel Data
Unravel Data provides the only Application Performance Management (APM) solution for Big Data. Unravel doesn't just monitor and unify system-level data, but rather tracks, correlates, and interprets performance data across the full-stack in-order to optimize, troubleshoot, and analyze from a single pane. Customers include leading Big Data practitioners such as Kaiser Permanente, Leidos, Autodesk and YP.com. Unravel Data was founded by Kunal Agarwal and Dr. Shivnath Babu when they experienced the frustration of manually troubleshooting performance problems in Big Data stacks firsthand. Unravel's founding team includes Big Data experts from companies such as Cloudera, Oracle, and Microsoft. Unravel Data has raised a total of $23M in three rounds of funding from Menlo Ventures, GGV Capital, Microsoft Ventures, Data Elite Ventures and Jyoti Bansal.
About GGV Capital
GGV Capital is a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs since 2000 from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise/cloud sectors. GGV has invested in over 200 companies including Airbnb, Alibaba, Ctrip, Didi, DOMO, Hashicorp, Hellobike, Houzz, Keep, Slack, Square, Toutiao, Wish, Xiaohongshu, YY, and more. More at ggvc.com.
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PR Contact
Jordan Tewell
10Fold Communication
415-800-5379
unravel@10fold.com