Major leadership acquisitions and expanding customer base, including Snap and Robinhood, indicate industry confidence in Chronosphere’s cloud native observability solutions
NEW YORK, September 21, 2022 /PRNewswire/ — Chronosphere, the only cloud native observability platform that puts engineering organizations in control by taming rampant data growth and cloud native complexity, today announced it has tripled its Annual Recurring Revenue (ARR ) and its employee count over the past 12 months, making it one of the fastest growing companies in the industry. The organization attributes its accelerated growth to the massive shift to cloud native workloads and the inherent increase in data complexity, infrastructure and management costs.
Founding executives Martin Mao and Rob Skillington led the development of the M3 open source metrics engine to solve big challenges at Uber — which forms the kernel of what is now Chronosphere’s cloud native observability platform. The company pioneered a new category of cloud native observability that allows users granular control over their data. Legacy infrastructure monitoring and Application Performance Monitoring (APM) tools are not built for cloud native speed and complexity and over-index data capture (ie, metrics, logs, and traces), and leaving organizations with expensive solutions that don’t help. they remediate critical customer issues faster. Chronosphere’s cloud native observability platform provides immediate actionable detection of customer-facing issues — speeding time to remediation, streamlining engineering workload, and improving the end-user experience.
“The technology industry is experiencing a massive cloud native transformation, but companies are facing challenges posed by ever-growing, complex data. Without the proper tools to monitor, test, understand and manage this deluge , application downtime becomes more frequent, engineering teams burn out and costs rise,” said Mao. “Chronosphere’s incredible growth over the past year not only speaks to the need for cloud native observability, but is a testament to our ability to help our customers think about observability in new ways to they achieve positive business results.”
Chronosphere’s financial growth has been fueled by significant expansion in several key areas over the past year, which include a diverse customer base, an innovative technology stack, and an experienced leadership team.
Significant customer growth
By using Chronosphere’s cloud native observability platform, companies have reduced their observability data footprint by an average of 48%. In addition to savings from storing and managing less data, Chronosphere customers significantly reduce total cost of ownership by freeing up engineering time, saving millions of dollars in operational costs and delivering more reliable services to their digital-first user bases. As the only cloud native observability solution that gives customers complete control over their data resolution and retention, Chronosphere has recently attracted some of the largest consumers of cloud native infrastructure in the world including Snap, Robinhood, Abnormal Security, Aurora and one of the world’s largest real estate platforms — all organizations that manage tens of millions of daily users and promise an always-on-on experience. These new customers join an impressive list of existing enterprise clients that includes DoorDash and Visa. Over the past year, even as many organizations have begun to cut spending, more than 90% of Chronosphere’s customers have also extended their contracts.
“Having a reliable observability function is important for Snap — our users expect our app to always be available,” said Kamran Tirdad, Head of Application Infrastructure at Snap. “Our previous observability solution took up a lot of engineering bandwidth and didn’t meet our cost management standards. Chronosphere helps our team move from self-managed open source observability to a cloud native observability platform that provides consistent insight and understanding of our infrastructure as we evolve and scale At Chronosphere, we hope to increase the cost efficiency of metrics and free up engineering time previously spent running in-house open source observability stack.”
According to a recent report by 451 Research, a part of S&P Global Market Intelligence, “Chronosphere Aims to Tame Runaway Observability Data and Costs,” by William Fellows and Jean Atelsek“Chronosphere believes its differentiator is in addressing the root of customer-facing issues — not focusing too much on metrics, logs and traces. The main event is investigating applications to understand what’s going on. In this case, less is more: prioritizing the more important data enables faster detection and resolution.”
Industry Veterans Join Chronosphere’s Growing Leadership Team
Chronosphere has tripled its number of employees in the past year to 227, helping the company’s rapid customer and financial growth. Among its new hires are three key additions to the C-suite, Scott MercyChief Marketing Officer; Adrian Seet, Vice President of Finance; and Bryan DellChief Revenue Officer.
- Mersy joins the company with more than two decades of marketing leadership experience at prominent SaaS companies including ServiceNow and Webex, and most recently served as Chief Marketing Officer at BigID. He will be responsible for leading Chronosphere’s marketing strategy, with plans to make the company’s reach global to drive revenue.
- Seet will lead all financial functions across the company. Prior to Chronosphere he was Vice President of Finance at Shogun and CommerceIQ.
- Dell will be responsible for shaping, leading, and scaling Chronosphere’s go-to-market strategy including Sales, Sales Engineering, Revenue Operations, Field CTOs, and Global Alliances. Prior to joining Chronosphere, Dell was the Chief Revenue Officer of BigPanda, and held several sales leadership roles at hyper-growth companies including Medallia, AppDynamics, and Lacework. Dell’s initial focus will be on continuing to expand the company’s customer base, ensuring a world-class customer experience from pre- to post-sales engagement, and recruiting top talent to expand the team.
About the Chronosphere
Chronosphere is the only cloud native observability platform that gives back to engineering organizations by taming rampant data growth and cloud native complexity while accelerating innovation. Faster alerts and issue resolution ensure responsive and reliable cloud native workloads underpin the most important services at leading organizations like DoorDash, Robinhood, and Abnormal Security. Teams in organizations of all sizes trust Chronosphere to help them drive competitive advantage and world-class customer experience while reducing engineering burnout and eliminating lock-in. Chronosphere is a remote-first company, backed by Greylock, Lux Capital, General Atlantic, Addition and Founders Fund. For more information, visit https://chronosphere.io or follow @chronosphereio.
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