OverOps raises $30M series C funding, which was led by series B investor LightSpeed Venture Partners, and participated in by series A investor Menlo Ventures.
We recently announced our $30M series C funding, which was led by our series B investor LightSpeed Venture Partners, and participated in by our series A investor Menlo Ventures. We’re delighted to have received such a great vote of confidence from our existing investors, raising OverOps venture funding to date to $52M.
Read the announcement on TechCrunch, VentureBeat, SiliconAngle, DevOps.com, and APMDigest among other sites.
This new round of funding will allow us to expand our enterprise product offering and support additional platforms including .NET CLR. The team behind OverOps has doubled over the last year and we’re hiring all across the board in Tel Aviv and San Francisco to support the expansion efforts, with openings in R&D, Sales, Marketing and Customer Success in Tel Aviv and San Francisco.
Most importantly, no vote of confidence is stronger than the voice of the customers we’ve been able to help at scale. This has been our motivation to continue delivering the best possible solution for real-time event intelligence.
In the last 12 months since our Series B funding, we’ve helped companies like Comcast, Fox, Zynga, Cox Automotive and Intuit, as well as Fortune 500 banks and health providers reduce the average time it takes to solve production errors by over 90%. They’ve been sharing their stories with us, and telling us that OverOps has allowed them to accomplish more daring feats with their time and focus on building cutting edge products instead of fixing bugs.
Logging doesn’t have to suck
While the way we monitor and deploy applications improved dramatically over the years, with the move to microservices, containers and continuous deployment, fixing production issues still heavily relies on log files, a 20 year-old technology that hasn’t changed since it was created.
As a result, there are considerable negative consequences that affect all companies who run critical applications in production, competing in market conditions that requires them to move fast or be left behind. At the current state of production monitoring:
- 20-40% of a developer’s time is spent debugging. That’s 10-20 weeks of wasted productivity per year per developer.
- End users are the first to report errors and the trigger for investigating production errors. This is a reactive process with limited visibility into an error’s root cause.
- Errors push back new releases, product roadmaps miss deadlines, and companies have a hard time delivering new product capabilities in shorter cycles.
It’s time to fix logging with an intelligence layer, so for every error, developers and devops engineers would gain rich information on what led to that error, including the stack trace, source code and variable values, as well as debug level log lines, regardless of what the log level was set to in production. In essence, a tool that fits in organically with your logs, Slack, HipChat, JIRA, PagerDuty or any other workflow tool you use.
If you haven’t experienced what OverOps can do for your team yet, we’d be happy to be in touch, and see if it can help you save money and cut down the time your team spends on fixing production issues.
On a personal note, there’s no other team I’d rather be going on this journey with. This funding is the direct result of the great work done by the team, as well as the loyalty of our customers and great commitment and support from our investors Arif Janmohamed at Lightspeed Venture Partners and Venky Ganesan from Menlo Ventures. This has been a remarkable journey, and I can’t wait to take the next steps as we grow the company even further.
The response from candidates has been overwhelming. If you’d like to see where and how you can fit in, please have a look at our jobs page.