Chronosphere, provider of the observability platform for cloud-native, announced that it doubled the business in the past four months and overall 16x growth in the past 12 months. According to the company, this puts Chronosphere on pace to be one of the fastest B2B SaaS companies to go from $1 million to $50 million in annual recurring revenue, faster than well-known SaaS companies like Datadog, CrowdStrike and Confluent.
The company achieved a unicorn valuation in less than 2 1/2 years. This milestone put Chronosphere in the top 10 fastest B2B SaaS companies to disclose unicorn status in September 2021, according to Pitchbook.
Chronosphere’s customer base expanded significantly as they continued to onboard customers, bringing onboard two of the top five publicly traded fintech companies. Chronosphere also saw existing customers like Aurora Innovation and Doordash significantly expand their usage.
The company also announced $43.4 million in Series B funding and $200 million in Series C funding, bringing the total raised to $255 million. Investors include Addition, Founders Fund, General Atlantic, Greylock and Lux Capital.
Chronosphere added more than 70 employees over the past 12 months, more than doubling its employee count from 50 to more than 130, including a new VP of People.