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Tracelytics Lands $5.2M Series A Round
Betaspring alum Tracelytics has announced the close of a $5.2 million Series A financing round led by Bain Capital Ventures. Existing seed investors Google Ventures, Battery Ventures, and Flybridge Capital Partners also participated in the round.
Tracelytics provides web application performance analysis and monitoring tools that help online businesses run faster and scale smarter. Their technology allows engineers and CTOs to analyze functionality and uncover performance bottlenecks and diagnose bugs. With smart tracing across the full application stack, Tracelytics delivers true visibility and management across distributed web-applications with any level of complexity.
Co-founder and CTO Spiros Eliopoulis dropped some science on Tracelytics blog, Let's Talk About Your Performance, earlier this week and laid out some of the reasons for Tracelytics upward trajectory.
Since its initial seed funding in early 2011, Tracelytics has reached several key milestones, including:
-- Smart tracing for the full application stack
-- Support for PHP, Python and Ruby
-- Public launch of the product in November 2011
-- Over 500 million traces executed to date
-- One month free trial available (http://www.tracelytics.com/signup)
“When you’re dealing with massive applications, people often don’t really understand what’s going on in them,” said Aman Gupta, an engineer from early Tracelytics user GitHub. “With Tracelytics, I immediately found issues that our other software had failed to identify. The first time you see it, it is completely mind blowing. Once someone gets a taste of the data, they’ll want to trace every app and every layer of their stack.”
"If your application is under-performing, then your business is under-performing," said Ben Nye, managing director at Bain Capital Ventures. "Today’s enterprises need full-stack tracing to manage the performance of their highly distributed applications. We were impressed with the Tracelytics team’s deep understanding of the performance issues faced by modern business applications; they’ve built their entire solution from the ground up through the lens of the customer.”
The funding will be used to continue to innovate on Tracelytics' offering, as well as scale sales and marketing functions. Tracelytics is also opening a second office in Boston.