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Dataloop.IO Raises $5 Million Series A Round From Battery Ventures and Open Ocean

Dataloop IO 

Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has raised $5 million in Series A financing from Battery Ventures and Open Ocean, a European early-stage venture capital firm.

Dataloop.IO -- whose product is already in use with customers such as Moz.com, BBC Worldwide and Criteo -- will use the funds to ramp up product development, sales and marketing. The company is also opening a new headquarters in San Francisco to attract talent and build on its sales momentum in the U.S.

What separates Dataloop.IO from other IT-monitoring tools -- which are critical in today's highly complex datacenters -- is its focus on making cloud monitoring a self-service platform that many people in an organization can use. Other solutions still require a central operations team to set up a monitoring function, which can be difficult to scale as the organization grows or moves to new IT architectures like microservices. Dataloop.IO enables its customers to standardize and consolidate all their monitoring functions into one solution, while staying agile by empowering individual teams to set up the monitoring they need in minutes.

"Today, organizations and DevOps teams are managing data and building applications more quickly than ever with new methods, at huge scale, both on- and off-premise," said Dataloop.IO Co-founder and CEO David Gildeh. "In this world, you need to provide monitoring as a self-service solution, or risk losing agility as the number of teams relying on your monitoring solution grows. Dataloop.IO is the only solution designed to solve this problem from the ground up." 

Dataloop.IO was founded by three colleagues from Alfresco, an open-source company specializing in online document management. Gildeh, Steven Acreman and Colin Hemmings identified the need for a service like Dataloop.IO's when they helped Alfresco build its first cloud service. They saw firsthand how existing IT-monitoring tools were designed for old IT models and couldn't adequately handle complexity of cloud environments.

"Dataloop.IO is at the forefront of some of the biggest trends shaping IT today, such as the rise of cloud computing and microservices," said Richard Muirhead, the general partner leading Open Ocean's investment. Muirhead previously founded and/or was active with companies including Orchestream, Tideway Systems and Automic Software.

He added: "As every business becomes a software business, the need for more-modern, and self-service monitoring tools becomes even more acute. I am convinced Dataloop's team is the right one to tackle the problem."

"As our architecture becomes increasingly complex, accurate monitoring is an absolute must," said Scott Ehnert, VP of TechOps at Moz.com. "Dataloop.IO enabled us to standardize and consolidate all our monitoring across the teams with a self-service solution, saving us time, money and a lot of headaches."

Dataloop.IO previously raised $1.2 million in seed capital.

Published Tuesday, June 21, 2016 12:21 PM by David Marshall
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