Venture Funding

Sentry Reaches Unicorn Status With $60 Million Series D

SAN FRANCISCO — Sentry, a provider of application monitoring, has raised $60 million in Series D funding led by its first capital investor, Accel, with participation from existing investor New Enterprise Associates (NEA) and new investor, BOND.

Accel was the first investor in Sentry, leading its seed round in 2015 and it has increased its stake in every subsequent round.

This round brings Sentry’s total funding to $127 million with a post-funding valuation of $1 billion. Funds from this round will be used to enable product innovation in its core Application Monitoring platform, expand Performance Monitoring capabilities across all platforms, and accelerate go-to-market functions and hiring across the company’s San Francisco, Toronto, and Vienna offices.

Now serving 68,000 organizations worldwide, Sentry is reshaping application monitoring to make it faster, easier and more cost effective for developers to keep their digital services and applications performing flawlessly. Sentry’s growing customer base includes companies such as Disney, Peloton, Cloudflare, Eventbrite, Slack, Supercell, and Rockstar Games. The company continues to see growth in digitally focused industries, such as tech, gaming and streaming media, along with increased traction in new verticals, such as financial services, commerce and healthcare, as these companies undergo digital transformation to better serve their customers.

“When applications are slow or worse, fail, users don’t care why—they only care that their interaction with the application is poor,” said Milin Desai, CEO, Sentry. “Developers face a challenge balancing speed and quality, especially as they deal with user interactions on multiple platforms—web, native desktop or mobile app. Sentry ensures they can resolve issues in minutes—so they can focus on innovation that moves their product forward.”

With solutions for error and performance monitoring across a multitude of languages and platforms, Sentry enables software teams to connect the dots between their frontend and backend code, as well as between errors and performance monitoring—a critical gap that observability and traditional APM vendors do not address. This rich insight into application code health provides developers with direct visibility into the impact of their code to better retain and grow their customer base and drive revenue.

“Reliability is critical for us and for our customers,” said Sri Viswanath, Chief Technology Officer at Atlassian. “Sentry is easy to integrate and provides us a great way to capture and debug error logs, especially the browser code. We are excited to continue partnering with Sentry.”

“There is a skyrocketing need for solutions that address holistic application health—from backend performance to frontend code where customers interface—and this is exactly where Sentry brings value,” said Dan Levine, partner, Accel, which also has invested in Slack, Atlassian, CrowdStrike, Qualtrics, PagerDuty, and Dropbox. “With nearly all companies moving to digital-first ways of working and engaging with customers, application health has become a business-critical initiative, and as a result, Sentry is poised for explosive growth.”