Cloud observability startup Groundcover raises $100M in funding
Groundcover Inc., a startup with a platform for monitoring cloud environments, today announced that it has raised $100 million in funding.
One Peak led the Series C round. It was joined by Morgan Stanley, Zeev Ventures, Angular Ventures, Heavybit and Jibe. CTech reported that the deal values Groundcover at $500 million.
Many observability tools charge users based on the amount of telemetry they collect. That pricing model often leads companies to limit the number of workloads they monitor in the interest of lowering costs. For example, a software startup might decide not to monitor a development environment that doesn’t contain any sensitive data.
Troubleshooting an outage without telemetry about the affected workload can be challenging. Furthermore, visibility gaps make it more difficult to spot cyberattacks. According to Groundcover, its observability platform addresses those challenges with a pricing model that isn’t tied to the amount of data users ingest. That makes it possible to collect telemetry from low-priority workloads which would otherwise be too expensive to monitor.
