Cribl secures $319M funding, valued at $3.5B in latest round
- Cribl has raised $319 million in a Series E funding round, increasing its total funding to $600 million.
- The funding round was led by GV, with participation from several other investors, and values the company at $3.5 billion.
- This investment reflects the rising demand for data management solutions as companies seek effective ways to handle expanding corporate data.
Cribl, a San Francisco-based startup specializing in data management and orchestration tools, has successfully raised $319 million in a Series E funding round. This round was led by GV, the corporate venture arm of Alphabet, with additional participation from GIC, CapitalG, IVP, and CRV. This funding brings Cribl's total capital raised to $600 million and significantly increases its valuation to $3.5 billion, marking a 40% rise from its previous Series D valuation in 2022. The investment is notable as it represents one of the largest in GV's 15-year history, highlighting the growing interest in data infrastructure solutions. As part of the agreement, GV general partner Michael McBride will join Cribl's board of directors, which may influence the company's strategic direction moving forward. Cribl's software is designed to analyze, collect, process, and route IT and security data to various systems, databases, and data stores. The company has capitalized on the rapid expansion of corporate data in recent years, as businesses increasingly seek effective data operations and orchestration solutions. This trend is expected to continue, with projections indicating that by 2025, around 80% of global data will be housed within enterprises. The funding will likely enable Cribl to enhance its product offerings and expand its market reach, positioning the company to meet the growing demand for data management solutions in an increasingly data-driven world.