Sentry Raises $60 Million in Series D Funding at $1 Billion Valuation
Developers at more than 68,000 organizations rely on Sentry’s application monitoring solutions to help them build exceptional, reliable software faster.
SAN FRANCISCO — February 18, 2021 — Sentry, the market leader in application monitoring, today announced it has raised $60 million in Series D funding led by its first capital investor, Accel, with participation from existing investor New Enterprise Associates (NEA) and new investor, BOND. Accel was the first investor in Sentry, leading its seed round in 2015 and it has increased its stake in every subsequent round.
This round brings Sentry’s total funding to $127 million with a post-funding valuation of $1 billion. Funds from this round will be used to enable product innovation in its core Application Monitoring platform, expand Performance Monitoring capabilities across all platforms, and accelerate go-to-market functions and hiring across the company’s San Francisco, Toronto, and Vienna offices.
Now serving 68,000 organizations worldwide, Sentry is reshaping application monitoring to make it faster, easier and more cost effective for developers to keep their digital services and applications performing flawlessly. Sentry’s growing customer base includes many global brands, such as Disney, Peloton, Cloudflare, Eventbrite, Slack, Supercell, and Rockstar Games. The company continues to see growth in digitally focused industries, such as tech, gaming and streaming media, along with increased traction in new verticals, such as financial services, commerce and healthcare, as these companies undergo digital transformation to better serve their customers.
“When applications are slow or worse, fail, users don’t care why—they only care that their interaction with the application is poor,” said Milin Desai, CEO, Sentry. “Developers face a challenge balancing speed and quality, especially as they deal with user interactions on multiple platforms—web, native desktop or mobile app. Sentry ensures they can resolve issues in minutes—so they can focus on innovation that moves their product forward.”
With solutions for error and performance monitoring across a multitude of languages and platforms, Sentry enables software teams to connect the dots between their frontend and backend code, as well as between errors and performance monitoring—a critical gap that observability and traditional APM vendors do not address. This rich insight into application code health provides developers with direct visibility into the impact of their code to better retain and grow their customer base and drive revenue.
“Reliability is critical for us and for our customers,” said Sri Viswanath, Chief Technology Officer at Atlassian. “Sentry is easy to integrate and provides us a great way to capture and debug error logs, especially the browser code. We are excited to continue partnering with Sentry.”
“There is a skyrocketing need for solutions that address holistic application health—from backend performance to frontend code where customers interface—and this is exactly where Sentry brings value,” said Dan Levine, partner, Accel, which also has invested in Slack, Atlassian, CrowdStrike, Qualtrics, PagerDuty, and Dropbox. “With nearly all companies moving to digital-first ways of working and engaging with customers, application health has become a business-critical initiative, and as a result, Sentry is poised for explosive growth.”
Sentry’s role in building reliable software, along with its seamless integration into the developer ecosystem, appealed to new investor Jay Simons, partner at BOND. His more than 12 years in executive leadership at Atlassian provided insight into developer challenges, especially those building products with high customer engagement.
“The importance of creating and maintaining reliable software cannot be overstated. By integrating error and performance monitoring early in the development workflow, Sentry helps developers fix and tune faster, ultimately shipping products that break less,” said Simons. “BOND is excited to be part of their ongoing journey to help shape how exceptional software gets built.”
Moving forward, Sentry will continue to scale its performance monitoring solutions across native, mobile and web-based platforms to encompass more languages and frameworks while expanding on the value provided by its full suite of application monitoring solutions for all developers. The company, which has increased its employee count by nearly 40% since its last funding round in 2019, plans to expand its executive leadership team and hire new talent across the entire business, including growing go-to-market functions for enterprise companies. At the same time, Sentry will continue to support its existing commitment to the open source developer community and expand its set of integrations and partnerships within the developer ecosystem.
Learn more about Sentry’s plans for innovation and growth on the company blog.
About Sentry Sentry’s mission is to eliminate the havoc and potential financial loss associated with defective software by making best-in-class application monitoring available to all software teams. Sentry helps developers discover, triage, and prioritize code errors and performance bottlenecks in real time in order to deliver the best possible end-user experiences complementing your systems monitoring tools. More than 68,000 organizations worldwide — and many of the world’s best software companies — including Atlassian, Cloudflare, Disney, GitHub, and Microsoft, use Sentry to diagnose, fix, and optimize the performance of their code. Learn more at sentry.io or follow Sentry on GitHub, Twitter, Dribbble or LinkedIn.
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