PALO ALTO — Wavefront, a metrics monitoring service for cloud and application environments, has secured $52 million in a Series B funding round. Existing investors Sequoia Capital and Sutter Hill Ventures were joined by new investor Tenaya Capital, and other equity holders.
The new funding will be used to accelerate research and development to expand its product offerings, as well as expansion of Wavefront’s sales, marketing and support operations around the globe.
“Cloud-enabled companies adopting Wavefront get crucially valuable insights that no other monitoring platform can offer, so their business experiences less degradation, fewer outages and more customer success,” said Pete Cittadini, President & CEO of Wavefront. “We surpassed key milestones this past year, so it became the ideal time to raise this round, and fuel our already impressive adoption into the SaaS 250, as well as into digital enterprises and e-commerce companies that are fully embracing the cloud.”