Monte Carlo, a San Francisco, CA-based data reliability company, raised $60M in Series C funding.
The round, which brought total funding to $101M, was led by Iconiq Growth with participation from Salesforce Ventures and existing investors Accel, GGV Capital, and Redpoint Ventures.
The company intends to use the funds to accelerate growth in the Data Observability category, further develop its product offerings for customers, support more use cases, and expand to new markets.
Led by Barr Moses, CEO, Monte Carlo provides a Data Observability platform that leverages the best practices and principles of automatic application observability (think: Datadog or AppDynamics) and applies them to data pipelines, giving data engineers and analysts visibility across all data pipelines and data products. Simultaneously, its machine learning-powered platform provides data leaders and other data stakeholders with a holistic view of their company’s data health and reliability for critical business use cases.
Since their Series B announcement in February 2021, the company more than doubled revenue quarter-over-quarter, with an 800 % increase in revenue year-over-year. Since the start of 2021 alone, Monte Carlo has brought on new customers across industries, including Intuit, Affirm, Fox, Vimeo, PagerDuty, and Zalora, among others. Additionally, the company partners with industry leaders Snowflake, Looker and PagerDuty, bringing automatic, end-to-end data monitoring, anomaly detection, and field-level lineage to data teams everywhere.
FinSMEs
17/08/2021