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Nobl9 Secures $21 Million in Series B Funding; Flagship SLO Platform Enters GA

Nobl9, the software reliability platform company, has secured $21 million in Series B funding and launched its flagship product to define the landscape of the next major innovation in cloud infrastructure operations. The round is led by Series A investors Battery Ventures and CRV. Series A investors Bonfire Ventures and Resolute Ventures are also participating, along with new investors Harmony Partners and Sorenson Capital. Proceeds from the Series B will fund programs focused on customer deployment success, software engineering team expansion and marketing programs.

"Every CEO who is serious about SRE understands that SLOs are the answer to customer demands for more reliable software," said Marcin Kurc, co-founder and CEO of Nobl9. "End-users want reliable software that meets their expectations for availability and performance. CEOs realize software reliability is central to business performance and profitability. Our platform is exactly what those enterprises need to build the feedback loops that are critical to sustainably running reliable, modern software."

General Availability of Nobl9 SLO Platform Announced

Along with the funding round, the company announced the general availability of its Nobl9 Service Level Objective (SLO) Platform. The Nobl9 SLO platform is the first SLO-centric operations platform purpose-built to drive widespread adoption of SLOs. Users can easily balance infrastructure reliability with the rapid release of software enhancements, while optimizing productivity and controlling infrastructure costs. The launch comes after a successful beta program that began last year.

The company already has more than 50 organizations on the platform from diverse market verticals including financial services, communications, ecommerce and media. Users include Adobe-which recently gave a presentation describing its use of the Nobl9 SLO Platform-and Brex.

"In the last year we've seen a rapid change in the mindset of almost every enterprise. Modern software architectures have accelerated a shift in their approach to operating production software," said Brian Singer, co-founder and chief product officer. "Our beta users rely on SLOs, and Nobl9 is serving a critical role in their production stack. This round of funding gives us the resources to bring our offering to every organization that understands the importance of building reliability into their DNA." 

Leadership in Emerging Category

Battery Ventures is a global, technology-focused investment firm pursuing the most promising companies and ideas. The firm partners with exceptional founders and management teams to develop category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology.

"SRE is rapidly changing how app devs and infrastructure operators work together," said Alex Benik, partner at Battery Ventures. "Enterprise DevOps teams want a solution for SLO management that dovetails with their existing infrastructure investments. The Nobl9 team has built the right product at the right time for this fundamental market shift, and they've brought it to market faster than anyone expected."

CRV is a venture capital firm that invests in early-stage enterprise, consumer and biotech startups. Since 1970, the firm has invested in more than 400 startups at their most crucial stages, including DoorDash, Twitter, Zendesk, Airtable, Patreon, Cybereason, Drift, Kong and Iterable.

"Software reliability is the next outsized growth opportunity in the infrastructure market, and what Nobl9 has delivered is perfectly situated in a market that's growing and changing rapidly," said Murat Bicer, general partner at CRV. "We see the trend toward SRE accelerating over the next few years and Nobl9 is leading that transition." 

The Nobl9 Service Level Objective Platform

The Nobl9 SLO Platform helps organizations use SLOs to efficiently deliver software reliability. Nobl9 works with existing monitoring systems and other data sources to collect metrics that are measured against business-justified reliability targets to clarify and limit the cost of reliability. Nobl9 calculates budgets of acceptable error per service threshold and can trigger workflows and alerts in anticipation of outages. This system helps software and business teams together deliver reliable features faster and at a reasonable cost.

The Nobl9 SLO Platform lets technology executives look at their engineering culture and system holistically by providing a central system-of-record for service ownership, reliability goals, and the historical track record of service health. The platform gives a strategic view of how to best run services to optimize for the critical tradeoffs: speed of delivery, technical debt, and redundant infrastructure cost.

SLOs create a balanced and scalable relationship between operational staff (who are primarily focused on reliability) and software services staff (who are primarily focused on quickly releasing new software features)-all while maintaining customer loyalty and avoiding unnecessary costs. By fine-tuning SLOs that correlate with business objectives, organizations gain a clearer picture of where to spend resources: delivering new features or paying down technical debt. 

Published Friday, February 12, 2021 10:06 AM by David Marshall
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