Tracelytics, a provider of application performance management (APM) software as a service (SaaS) offerings, announced a $5.2 million round of funding from investors led by Bain Capital Ventures.
Tracelytics,
a startup provider of next-generation application performance management (APM)
software as a service (SaaS), 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. In the announcement today on
Tracelytics' blog, CTO Spiros Eliopoulos
highlighted the rapid growth of the company and product since its initial seed
funding, and the launch of a one-month free trial program.
In his post,
Eliopoulos said, Weve raised this money for two reasons: to keep improving
the most comprehensive and powerful full-stack APM solution, and to scale our
sales and marketing functions as a business. In support of this growth,
the company, currently located in Providence, R.I., is opening a headquarters in
Boston.
Tracelytics'
SaaS solution offers customers unique insights into the performance of their Web
applications, driving immediate time-to-value by revealing issues, bottlenecks
and potential improvements. With smart tracing across the full application
stack, Tracelytics delivers true visibility and management across distributed Web-applications
with any level of complexity, said John Vigeant, CEO of the company.
Vigeant joined
Tracelytics from CloudBees, a Java platform as a Service (PaaS) startup, where
he was vice president of business development. Vigeant told
eWEEK: I recently left CloudBees to
take on a CEO role of a very interesting SaaS-based APM company by the name of
Tracelytics. We compete with the likes of New Relic and AppDynamics.
Since its
initial seed funding in early 2011, Tracelytics has reached several key
milestones, including: the introduction of smart tracing for the full
application stack; support for PHP, Python and Ruby; the public launch of the
product in November 2011; more than 500 million traces executed to date; and a
one-month
free trial available.
We currently
support full-stack application tracing in PHP, Python and Ruby, and we are
the only application performance management software to provide full-stack
application tracing, which enables complete visibility into the performance of
your Web apps, Vigeant told
eWEEK.
Everyone else provides partial visibility into app performance. We will
be adding support for more languages very soon.
"When
you're dealing with massive applications, people often don't really understand
what's going on in them," said Aman Gupta, an engineer at GitHub, an early
Tracelytics user, in a statement. "With Tracelytics, I immediately found
issues that our other APM software had failed to identify. The first time you
see 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, in a statement.
"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."
Moreover,
Vigeant said Bain Capital Ventures' extensive experience in bringing
infrastructure software to market made them an ideal choice for a partner.
"We have always wanted more than just capital from our investors, Vigeant
said in a statement. Bain Capital Ventures quickly demonstrated that they
could be a true partner in scaling this company, and with their deep expertise
in the APM market, I could not be more excited to have them as a member of the
team.
Further
explaining the Tracelytics APM approach, Eliopoulos said in his post:
The
modern Web application spans layers, hosts and applicationswhy settle for
partial and piecemeal visibility into your stack? Tracelytics is the only
application performance management solution that provides full-stack
visibility, following requests across boundaries between layers, hosts and
applications. Our smart tracing goes the extra mile so that you can solve tough
problems that would be overlooked by legacy solutions. We are now able to use our
smart tracing in PHP, Python and Ruby, and were working on more for the
future.
Traditional
APM figures out which questions you might ask and presents the minimum data
necessary to answer those, often in the form of averages you wish you could
break down just a bit farther. Our innovative heat maps and data-sifting features help answer
questions that youand wehavent even thought of yet. Weve now analyzed over
500 million individual traces sent to us by our customers and users since
launching the software, and helped them understand what that data really
means.
Founded in
2010 by a core team of engineers frustrated with the existing solutions,
Tracelytics provides next-generation APM capabilities, the company said.
Tracelytics' solution offers customers unique insights into the performance of
their Web applications, driving immediate time-to-value by revealing issues,
bottlenecks and potential improvements, the company added.
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