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Continuous reliability management startup StackPulse exits stealth with $28 million

StackPulse announced it closed a $20 million Series A led by GGV Capital. This newest funding brings the total amount raised to $28 million, including a previously undisclosed $8 million seed round led by Bessemer Venture Partners, which also participated in the Series A.  Glenn Solomon at GGV and Amit Karp at Bessemer will join the StackPulse board of directors; Oren Yunger at GGV will join as a board observer.

The funds will be used to invest in global growth and to scale engineering hiring for development of the StackPulse reliability platform, as the company's customer base of developers and site reliability engineers (SREs) continues to grow.

StackPulse CEO Ofer Smadari said the company is gaining traction for bringing DevOps methodologies and software to solve application uptime. Advances in technology such as containers and continuous integration have simplified how software developers build and deliver new applications. However, it is very hard to keep those applications up and running, because the tools, methodologies, and processes have not yet evolved.

"When sites and applications go down or have incidents, businesses end up losing millions of dollars," said Smadari. 

Smadari said that to maintain application reliability today, organizations are trying DIY methods using various IT services management (ITSM) tools to help notify them of and catalogue alerts, or they're hiring more site reliability engineers (SREs).

"Not everyone can hire a bunch of SREs especially if the company doesn't have the resources or scale of a Google or a Microsoft," he said. 

"It's extremely rare to see a one-year-old startup exiting stealth mode already having built significant product-led growth and customer adoption momentum," said Glenn Solomon, managing partner at GGV Capital. "StackPulse's rapid ramp is a testament to the management team's proven experience, having successfully built, scaled and exited multiple previous companies. At GGV Capital, we seek to invest in leading teams going after large, emerging, and globally relevant markets. We are thrilled to have led StackPulse's Series A and to be working with this passionate and dedicated team."

StackPulse's mission is to maintain uptime and reliability for software and sites. StackPulse sees continuous reliability not as an IT problem but rather an engineering one, which is why it's building a platform that uses code to remediate incident response rather than manual IT practices. According to Smadari, other vendors are focused on alerting, collaboration and communication to resolve IT issues; StackPulse believes it is the first to automate incident response and remediation in a way that replaces ITSM's role and ultimately leads to stronger business results. 

A customer, Aviram Cohen, VP R&D of Armis, said: "StackPulse has transformed our team's approach to reliability. We're able to see a complete picture of production health, with automated alert enrichment and triage so we can rapidly identify and analyze incidents. We're then able to accelerate remediation by turning manual incident response into automated StackPulse playbooks. Our teams are no longer fighting fires and can instead invest in building for the future."

StackPulse plans to announce a free edition of its Reliability Platform in coming weeks.

Published Tuesday, January 19, 2021 11:30 AM by David Marshall
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