San Francisco-based Cribl raised a $319 million Series E led by new investor GV and valuing the data infrastructure company at $3.5 billion.

The new round is actually a mix of $200 million in capital and a $119 million secondary offering, per Bloomberg. The raise represents a significant up-round for the company, which last raised a $150 million Series D led by Tiger Global Management at a valuation of nearly $2.6 billion in 2022.

The new round also included participation from GIC, CapitalG, IVP and CRV.

Managing data

Cribl’s platform gives users observability into their data, allowing them to understand the health of the data and organize it for IT and security teams. Just last year, Cribl announced it had passed the $100 million mark in annual recurring revenue. The company has more than 700 employees worldwide.

While the explosion of data has given companies the potential for deep understanding of their business, the process of actually collecting, verifying and organizing that data has proven to be difficult and time-consuming. It’s that problem that platforms such as Cribl’s tries to rectify.

“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,” said Michael McBride, GV general partner and part of Cribl’s board, in a release. “Cribl’s rapid growth has come from the consistent and powerful results experienced by its customers.

Founded in 2018, Cribl says it has raised more than $600 million.

Related reading:

• Venture Investors See Potential In Data Observability

Illustration: Dom Guzman