Crible leadership team. Image: Cribl
The latest funding led by GV, Alphabet’s venture arm, increases the start-up’s valuation by 40pc from its Series D round in 2022.
Silicon Valley data management start-up Cribl has reached a valuation of $3.5bn after raising $319m in a Series E funding round led by GV (formerly Google Ventures).
Based in San Francisco, Cribl was founded in 2018 by Clint Sharp, Dritan Bitincka and Ledion Bitincka. The firm’s software helps companies “unlock” the value of their IT and security data by allowing them to analyse, collect, process and route data “whenever and however they decide”.
The fast-growing data infrastructure start-up said it counts nearly half of Fortune 50 and a quarter of Fortune 500 companies as its customers.
“Our relentless focus on our customers and doing what’s right for them is why Cribl has become one of the fastest growing infrastructure companies in history … There’s no better proof that we’re onto something big than when the world’s largest enterprises bake Cribl into their infrastructures,” said Sharp, who is the CEO.
“When Dritan, Ledion and I started Cribl back in 2018, we had a clear vision to help enterprises unlock the value of their data. I’m reminded of that vision at every crucible moment in our short history, including securing more than $600m in capital, becoming one of the fastest infrastructure software companies to surpass $100m in ARR [annual recurring revenue] and expanding our portfolio with innovative products built from first principles.”
The latest funding increases the company’s valuation by 40pc from its Series D round in 2022. GV, Alphabet’s venture investment arm, has previously backed big names in tech, including Stripe, Uber and GitLab. As part of the investment, GV general partner and former GitLab chief revenue officer Michael McBride will join the Cribl board.
Other backers of the latest round include new investor CapitalG and existing investors GIC, IVP and CRV.
“Michael’s experience at GitLab and GV’s track record will help guide us in continuing our awesome growth trajectory,” Sharp added. “With great investors like GIC, CapitalG, IVP and CRV backing us, we are in a fantastic position to bring the data engine for IT and security to businesses around the world.”
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