Funding Alert

Y Combinator-backed SigNoz Secures $5.4M for Open Source Observability Platform

• ByStartupStory     |    September 30, 2023

SigNoz, the open-source observability platform, has successfully raised $5.4 million in its recent funding round led by SignalFire, with participation from Uncorrelated Ventures, Alumni Ventures, and notable angels including Tom Preston Werner (co-founder Github), Jiten Vaidya (ex-CEO Platetscale), and Paul Copplestone (co-founder Supabase).

This funding round follows a previous investment of $1.1 million from Y Combinator and several angel investors. SigNoz plans to utilize the fresh capital to enhance its core product and expand its cloud and enterprise offerings.

Founded in 2020 by Pranay Prateek and Ankit Nayan, SigNoz assists companies in avoiding vendor lock-ins and gaining greater control over their data, allowing them to determine where it is sent using telemetry. Standardizing telemetry data formats is expected to foster a thriving ecosystem of tools and innovation in the field of observability.

Telemetry involves the collection, transmission, and measurement of data from remote sources, employing sensors and other devices for data collection.

The founders explained, “For example, if you are opening an e-commerce website, if the product list page takes longer to load – this may lead to customers churning. So, it is essential to measure the latency users are seeing. SigNoz helps companies understand how much time the APIs which serve these pages are taking (like what the 90th percentile user is seeing). You can also drill down on where this is taking time, like database calls, third-party APIs, etc.”

Currently, SigNoz boasts over 5 million Docker downloads and has garnered contributions from more than 100 contributors.

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