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Expansion of Honeycomb in Europe Supported by Investment in New Series C Led by Insight Partners-

HoneycombIs the leading observable platform used by high-performance engineering teams to quickly visualize, analyze and improve the quality and performance of cloud applications, and today is former Pivotal, SignalFx, and Chef Software executive Andy Hawkins. Announced expansion to Europe with the appointment of. There is also the end of the $ 50 million Series C round (about € 43 million). This latest round is led by New York-based global private equity and venture capital firm Insight Partners, with existing investors Scale Venture Partners, Headline (formerly e.ventures), Storm Ventures, Industry Ventures, And Next World Capital participated.

With this latest capital round, Honeycomb can launch several initiatives to help accelerate growth in Europe.

  • Increasing awareness of rapidly evolving observable practices in the European market is driving the further growth of Honeycomb’s broad European customer base.

  • Hire and build a new European team to ensure that Honeycomb continues to provide world-class support to both existing and new customers around the world.

  • Further awareness, training, and customer enablement to integrate observability into the latest DevOps, SRE, and software development practices as we continue to actively transform our digital business by investing in engineering community events. Promote.

Andy Hawkins joins Honeycomb as Regional Director, providing over 20 years of leadership in helping organizations adopt DevOps practices and deliver the best customer experience. Andy has proven successful in leading high-growth teams and will lead Honeycomb’s expansion in the region to expand and expand local support for European customers. Prior to joining Honeycomb, he was an observable provider of application security, TrueFort, Inc. He was the Field CTO of SignalFx and Vice President of Technology Operations at SignalFx. Andy was previously the Field CTO of Pivotal and the European leader of Chef Software Inc.

Honeycomb’s rapid growth is fueled by the team moving from APM to observability to better achieve their business goals. Observability takes over APM because it allows teams to quickly find critical issues in cloud-native microservices-based apps. The latest microservices architecture not only improves speed and scale, but also adds complexity and unpredictability. Traditional APM tools fail to debug because they are built to look at simpler monolithic applications in a predictable environment. Honeycomb is built to reduce the complexity of modern applications. Recent funding rounds have seen a rapid acceleration in observable adoption. O’Reilly Media“Observability has shown the highest growth (128%) in the past year, but surveillance has increased by only 9%.”

Christine Yen, CEO of Honeycomb, said: “By injecting capital, launching an official presence in Europe, and adding Andy Hawkins to our team, we can meet the growing demand for solutions and better serve our growing customer base in Europe.”

Last year, Honeycomb grew exponentially, trebling the number of fast-growing corporate customers with a strong presence in Europe, such as HelloFresh and Booking Holdings. Honeycomb uses machine analytics, an ultra-fast query engine, and integrated distributed tracing to slice and compare billions of rows of data about the system across thousands of high cardinality dimensions, down to individual users. You can quickly find performance patterns. service. Unlike APM tools, observability provides a high level of data fidelity and exploration tools that allow you to quickly understand the unpredictable, improving uptime, improving quality and accelerating the user experience. It leads to more engineering time spent on innovation and better business outcomes. High performance engineering team.

Andy Hawkins, Director of Europe at Honeycomb, said: .. “I’ve worked in this area for many years and believe that Honeycomb’s approach is truly unique in the industry. Engineering teams face increasing pressure to meet growing customer expectations in the transition to digital. We are creating the urgency in Europe to meet the urgency of Honeycomb’s solution to manage application performance. We are excited to join Honeycomb’s team as Honeycomb embarks on its next stage of growth. “

For more information on Honeycomb, please visit: www.honeycomb.io..

About honeycomb

Honeycomb provides observability for high-performance engineering teams, so you can quickly understand how real users execute code in unpredictable and highly complex cloud environments. Honeycomb customers stop wasting valuable time on engineering mysteries because they can quickly solve their mysteries, know exactly how to create a fast, reliable, and great customer experience. .. Many companies, including HelloFresh, Stripe, Slack, Heroku, CircleCI, and LaunchDarkly, rely on Honeycomb to respond quickly to incidents, optimize performance, and accelerate release cycles safely. For more information www.honeycomb.io And follow us twitter..

About Insight Partners

Insight Partners is one of the world’s leading venture capital and private equity companies investing in high-growth technology and software ScaleUp companies that are driving industry transformation. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised over $ 30 billion in capital commitments through a range of funding. Insight’s mission is to find, fund, and collaborate with visionary executives to provide hands-on software expertise to drive long-term success. Insight encourages a culture centered around the belief that ScaleUp companies and growth create opportunities for everyone across employees and portfolios. For more information on Insight and all its investments, please visit insightpartners.com or follow us on Twitter.

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Expansion of Honeycomb in Europe Supported by Investment in New Series C Led by Insight Partners-

Source link Expansion of Honeycomb in Europe Supported by Investment in New Series C Led by Insight Partners-

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