The San Francisco firm behind an ‘open ecosystem of data’ sees the UK as key to its European expansion.
Cribl, which has raised £145 million in Series C funding, claims to allow enterprises to vastly increase the scope – and reduce the cost – of their data analytics.
Exacerbated by the dramatic growth of remote work, security attacks, and heightened privacy and compliance requirements, companies are now collecting and storing such vast amounts of data that a new landscape of tech vendors have emerged to solve the challenges around ‘big data’.
Cribl claims that its open approach to the flow of data is at odds with its competitors, which seek to lock customers into their own expensive data stacks. Its flagship product, LogStream, is described as a ‘vendor-agnostic’ way to parse and route any type of event data that flows through corporate IT systems.
“The UK is a great hub for Cribl, not only as a market in itself but also as a base to build out our operations in other EMEA regions,” CEO and co-founder Clint Sharp told BusinessCloud. “We intend to base our EMEA leadership in the UK within the next 2-3 months.
“We have recently started our search for senior leadership and have engaged with some incredible talent.
“We already have adoption from customer and channel partners in the UK and with a founding team that is two-thirds European, we almost view coming to this side of the Atlantic as a ‘homecoming’.
“We’re excited for the next phase in our growth, engaging with new customers and enabling organisations across the continent to unlock value from their observability data.”
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The Series C round was led by Greylock and Redpoint Ventures, and joined by new investor IVP, existing investors Sequoia and CRV, with strategic investment from Citi Ventures and CrowdStrike. It takes Cribl’s total funding to $254m.
“We intend to build a team of 10-20 in the UK over the coming year,” Sharp added. “Our initial focus will be on sales, engineering, marketing, channels and operations with recruitment for support roles commencing over the course of the coming months.
“We are a remote-first company and intend to continue that as we expand into Europe.”
Cribl claims its purpose-built technology is seven-times more efficient at processing event data while using far fewer resources than alternatives, which has helped it win relationships with new global customers such as Whole Foods and Vodafone.
David Wadhwani, partner at Greylock, said: “Not since my time at AppDynamics have I seen a company taking such an innovative approach to solving a real customer problem.
“Cribl is enabling customers to realise their long term observability strategies by addressing the single biggest pain point: getting control of the massive surface of data.”