Company closes record-breaking fiscal year with triple digit customer and ARR growth,
two new product launches, and $150M in new funding
SAN FRANCISCO, Feb. 7, 2023 /PmRNewswire/ — Cribl, the leader in enabling open observability, today announced the results of its fiscal year, marked by surging customer demand, an expanded observability product suite, and major funding. The company more than doubled its customer base and annual recurring revenue, with 24 of the Fortune 100 companies now Cribl customers. Cribl also launched two new products in 2022, Cribl Edge and Cribl Search, secured $150M in Series D funding, and grew its team to nearly 500 employees.
“When we started Cribl back in 2017 we had a simple vision: Give customers choice and control over their data. This past year of record customer and revenue growth continues to show that sentiment resonates with the market,” said Cribl Co-Founder and CEO Clint Sharp. “As we turn our sights to our next fiscal year and beyond, our team is committed, more than ever before, to delivering innovative products, best-in-class customer support, free education for all, and, ultimately, charting the future of the observability category.”
Financial Highlights, Customer Wins, and Industry Recognitions:
- Customer growth: Cribl more than doubled its customer base, which now includes 24 of the Fortune 100 companies and 59 of the Fortune 500.
- Fast-growing business: Cribl’s annual recurring revenue grew by triple digits (January 31, 2023 over January 31, 2022). The company also added more than 200 team members and head into 2023 with nearly 500 employees.
- Increased interest from investors: In May, Cribl secured $150 million in Series D funding led by Tiger Global Management, and joined by existing investors IVP, CRV, Redpoint Ventures, Sequoia, and Greylock.
- “The Cribl team continues to amaze us. They were the first mover in the observability category back in 2017, and they continue to lead the way with innovative products that push the market forward and a genuine commitment to their customers,” said Max Gazor, General Partner at CRV. “At CRV, we’re proud to have been a part of Cribl’s journey from early on when we led Cribl’s seed and we’re excited to watch this team continue to succeed in the coming years.”
- Industry recognition: Cribl was named to CNBC’s Top Startups for the Enterprise, received recognition at the Bank of America Technology Innovation Summit, won several Comparably awards recognizing company culture, and was recognized on CRN’s 2022 Cloud 100, Big Data 100, and Emerging Vendors.
- “Delivering high quality and secure customer experiences is critical for enterprises, leading forward-looking organizations to adopt and expand observability practices,” said Scott Sinclair, practice director at the Enterprise Strategy Group. “As environments scale, however, the result is often the uncontrolled growth of observability data. Cribl’s product suite helps organizations collect, manage, and search the range of data sources and types essential for today’s observability practices, while optimizing and helping control the growth of data. With investments in observability poised to increase, the opportunities for continued product innovation and new business use cases in this space are promising.”
Expanded Leadership Across the Business:
- Leadership team: Cribl continued to build its first-class leadership team, promoting Zach Johnson to Senior Vice President of Finance and Legal, Abby Strong to Senior Vice President of Customer Experience and Marketing, and Matt Bauer to Senior Vice President of Global Sales. Cribl also hired Lisa Nielsen as Senior Vice President of People, who previously held leadership roles at Amplitude, Looker, Keen, and EY.
- EMEA expansion: Cribl brought on Charlie Howe as Vice President of Sales, EMEA. Based in London, he brings over 20 years of sales experience, including recently serving as VP EMEA for Exabeam, Noetic Cyber, and Skyhigh Networks. Howe will continue to build Cribl’s presence in EMEA, where the company currently serves customers including BMW, Telefonica, JustEat, and more.
Product Suite Expansion and Industry Partnerships:
- Cribl Edge – Marking its official emergence as a multi-product company, Cribl launched Cribl Edge, an observability agent that allows teams to automatically detect, collect, and process observability events in real time and deliver the data to any destination, directly or through Cribl Stream.
- Cribl Search – Further broadening the product suite, Cribl launched Cribl Search, the first open and vendor-agnostic analytics tool to perform “search-in-place” queries on any data, in any format, at any location.
- Cribl Stream 4.0 – Cribl Stream now features additional analysis and troubleshooting capabilities with Pipeline Profiling & DB collector enhancements. The entire Cribl suite was also given a streamlined interface for easier usability and manageability.
- Expanded industry relationships – Cribl announced its integration with Amazon Security Lake and achieved AWS Security Competency status. SentinelOne and Cribl announced a partnership to help customers unlock the value of all observability data.
- Certification Program – To help democratize the skills needed to grow the next generation of observability practitioners, Cribl launched the Cribl Certified Observability Engineer (CCOE) program, a first-of-its-kind free technical certification program to set the industry standard for observability lifecycle skills. To date, more than 1,800 credentials have been issued.
About Cribl
Cribl makes open observability a reality for today’s tech professionals. The Cribl product suite defies data gravity with radical levels of choice and control. Wherever the data comes from, wherever it needs to go, Cribl delivers the freedom and flexibility to make choices, not compromises. It’s enterprise software that doesn’t suck, enables tech professionals to do what they need to do, and gives them the ability to say “Yes.” With Cribl, companies have the power to control their data, get more out of existing investments, and shape the observability future. Founded in 2017, Cribl is a remote-first company with an office in San Francisco, CA. For more information, visit www.cribl.io or our LinkedIn, Twitter, or Slack community.
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