Highlights:

  • The main offering from Cribl is a cloud service called Cribl Stream, which businesses may utilize to transfer data across their apps.
  • Roughly 25% of the Fortune 500, according to Cribl, use its technology for data processing tasks.

Cribl Inc. raised USD 319 million, an oversubscribed later-stage investment. The startup offers a suite of data management tools for businesses.

The recent announcement of the Series E deal featured a USD 119 million secondary sale in addition to USD 200 million in equity capital. The primary investor was Alphabet Inc.’s GV startup investing division. Along with GIC, IVP, CRV, and other venture funds run by Alphabet, CapitalG also took part.

GV General Partner Michael McBride said, “Every company must modernize its data stack as legacy systems already can’t handle today’s rapid data growth, and the arrival of AI further accelerates the need for a modern data platform.”

The main offering from Cribl is a cloud service called Cribl Stream, which businesses may utilize to transfer data across their apps. For instance, a merchant may input consumer purchasing behavior data into a demand forecast program. Security teams can transfer breach indicators from Linux servers into their malware detection engine by using Cribl Stream.

Analytics tool billing sometimes varies according to how much data users consume. Cribl Stream has the ability to compress a data stream as it is traveling across the network, lowering the expense of using such products. To lower the expense of loading an ad performance dataset into a marketing analytics solution, a business could, for instance, eliminate duplicate items from the dataset.

Users can alter their data streams in other ways with Stream. The solution has the ability to exclude private information, including credit card numbers, from records before uploading them into an external cloud application. Error logs from an external troubleshooting tool can be added to the data collected about application outages by a development team using Stream.

The software developer also offers various supplementary items in addition to Stream. AppScope and Cribl Edge are two of those tools that make it easier to extract data from a system and move it to an external location. While the latter solution can also interface with other data sources, such as Windows devices, the former technology concentrates on gathering telemetry from programs. Stream allows data gathered by the two items to be transferred to external systems.

Companies can store their records in Cribl Lake, a data lake platform run by the software provider, if they want to keep stuff there for a long time. Workers can use Cribl Search, an integrated search tool, to sort through the data housed in the platform. Additionally, there is an AI chatbot that offers instructions on how to use the software developer’s products.

Roughly 25% of the Fortune 500, according to Cribl, use its technology for data processing tasks. Last year, the company’s yearly recurring revenue exceeded USD 100 million. In the last 12 months, their net dollar retention rate—a measure of how much current clients spend more money over time—reached 130%.

The conditions of the company’s recently disclosed investment round undoubtedly took its recent growth milestones into account. At the end of the Series E fundraising, Cribl was valued at USD 3.5 billion, 40% more than it was in 2022. It plans to develop new features and increase its market share abroad with the fund it receives.