Data reliability company Monte Carlo has raised $60 million in Series C funding from ICONIQ Growth with participation from Salesforce Ventures and existing investors Accel, GGV Capital, and Redpoint Ventures – bringing their total funding to $101 million.
With this round, Monte Carlo plans to fuel the growth of the Data Observability category, further develop its product offerings for our customers, support more use cases, and expand to new markets.
According to the company, Series C establishes Monte Carlo as the first Data Observability company to reach this milestone, a testament to the team’s industry-defining thought leadership, new product releases, and rapid customer growth.
Since their Series B announcement in February 2021, Monte Carlo more than doubled revenue quarter-over-quarter, with an 800 percent increase in revenue year-over-year. Since the start of 2021 alone, Monte Carlo has brought on new customers across industries, including Intuit, Affirm, Fox, Vimeo, PagerDuty, and Zalora, among others.