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April 7, 2022

Grafana Labs Announces $240M Series D Round

Grafana Labs has just announced a $240 million Series D round led by existing investor GIC and joined by new investor J.P. Morgan. The Series D investment comes just seven months after the company’s $220 million Series C round. The company reportedly has a $5 billion valuation currently, but its last official valuation released publicly was $3 billion following its Series C.

As for the impact of this 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.”

Art by Caroline Cracco, courtesy of Grafana Labs.

The company is best known for its open source platform for dashboards and visualization, Grafana, of which it says worldwide adoption has increased 25x over 6 years with 900,000 active installations from 10 million users. Customers include Bloomberg, eBay, PayPal, and Sony. Grafana Labs offers multiple observability tools in its open source software stack, including Grafana Loki for log data, Grafana Tempo for traces, and its brand new time series database, Grafana Mimir for metrics.

“At the heart of the Grafana observability stack are the popular dashboards that are interoperable with any number of disparate data sources, enabling users of the Grafana platform to visualize anything they want and control their own observability strategy,” the company said.

The addition of J.P. Morgan as an investor is notable. In a blog post, Dutt said engineers at JPMorgan Chase have been active in the Grafana open source community with the company becoming a Grafana Labs customer in 2018, and in 2020, Grafana Labs was inducted into the JPMorgan Chase Hall of Innovation.

“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.

GIC is Singapore’s sovereign wealth fund, and it first invested in Grafana Labs during the company’s 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 GIC’s Chief Investment Officer for Private Equity, Choo Yong Cheen. “We are enthusiastic to lead the round, particularly as we’ve witnessed Grafana Labs’ ability to translate a portion of their free adoption into consistent business results. We see significant global interest in Grafana Labs’ products and look forward to leveraging GIC’s network to support the company’s global growth ambitions and drive deeper relationships in APAC over the long term.”

All other existing investors also participated in this round, including Sequoia Capital, Coatue, Lightspeed Venture Partners, and Lead Edge Capital.

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Editor’s note: This story has been updated to reflect Grafana Labs’ last publicly released valuation, which remains at $3 billion following its Series C round.