Honeycomb Secures $50M in Funding Round to Boost its Observability Platform

Honeycomb, a leading observability platform used by high-performing engineering teams, announced it has raised $50 million in Series D funding, propelling the company’s expansion globally and support for OpenTelemetry, along with efforts toward building a cohesive integration strategy across the entire software development ecosystem.

“High-performance engineering teams need accessible, intuitive observability workflows. While our competition is busy rearchitecting their data stores, we’re once again leading the pack by delivering innovative, developer-centric features that scale the power of knowledge across teams,” said Christine Yen, CEO of Honeycomb. “Too often, a prospect using a traditional APM tool comes through our door after being slapped with surprise overage bills or frustrations regarding incident visibility. Organizations should never be subjected to gaps in visibility just to save on cost—Honeycomb makes good on that promise.”

Headline leads the round with participation from other existing investors, Insight Partners and Scale Venture Partners. This round brings the total capital raised to nearly $150 million, including customer angel investments from HelloFresh CEO Dominik Richter and Vercel CEO Guillermo Rauch.

Adding to this momentum, Honeycomb also chalked up recent key customer wins with Robinhood, Frasers Group, and Equinix, who all join a growing list of customers like Vanguard, Slack, and Vercel. In addition, Kelly Watkins, former VP of global marketing at Slack and CEO of Abstract, has joined the board of directors.

As organizations face turbulent economic headwinds, engineering teams are expected to do more with less. The unprecedented pressure to innovate and release new features faster is compounded by stringent end-user expectations and increasingly complex tech stacks.

As a result, modern engineering teams can no longer rely on “good enough” legacy APM tools built for predictable, monolithic systems and aren’t architected for today’s complex and unpredictable distributed cloud environments.

Honeycomb offers an observability platform that sidesteps the data correlation problem across logs, metrics, and traces, by uniquely architecting its datastore to be datatype agnostic, according to the vendor.

Honeycomb gives engineering teams the power to detect patterns in seconds across billions of data points representing how users are experiencing their code in real time. It never aggregates or discards data.

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