Sentry raises $60 million in Series D funding to grow its application monitoring platform; now valued at $1 billion
Sentry, an application monitoring platform used by developers at many of the world’s best-known companies, today announced it has raised $60 million in Series D funding led by Accel. The latest round brings the company valuation to $1 billion. Other investors in this round include New Enterprise Associates (NEA) and new investor, BOND. Accel was the first investor in Sentry, leading its seed round in 2015 and it has increased its stake in every subsequent round.
Founded in 2012 by Chris Jennings and David Cramer, the San Francisco-based Sentry is a provider of application monitoring platform that helps every developer diagnose, fix, and optimize the performance of their code. Its platform is used by 1 million developers and companies, including Disney, Peloton, Cloudflare, Eventbrite, Slack, Supercell, and Rockstar Games. Here is how Sentry sums up what it does:
“Software issues are inevitable. Chaos is not. We help developers fix issues before customers see them.”
Now serving 68,000 organizations worldwide, Sentry is reshaping application monitoring to make it faster, easier, and more cost-effective for developers to keep their digital services and applications performing flawlessly. Sentry continues to see growth in digitally focused industries, such as tech, gaming, and streaming media, along with increased traction in new verticals, such as financial services, commerce, and healthcare, as these companies undergo digital transformation to better serve their customers.
“When applications are slow or worse, fail, users don’t care why—they only care that their interaction with the application is poor,” said Milin Desai, CEO, Sentry. “Developers face a challenge balancing speed and quality, especially as they deal with user interactions on multiple platforms—web, native desktop, or mobile app. Sentry ensures they can resolve issues in minutes—so they can focus on innovation that moves their product forward.”
With solutions for error and performance monitoring across a multitude of languages and platforms, Sentry enables software teams to connect the dots between their frontend and backend code, as well as between errors and performance monitoring—a critical gap that observability and traditional APM vendors do not address. This rich insight into application code health provides developers with direct visibility into the impact of their code to better retain and grow their customer base and drive revenue.
“Reliability is critical for us and for our customers,” said Sri Viswanath, Chief Technology Officer at Atlassian. “Sentry is easy to integrate and provides us a great way to capture and debug error logs, especially the browser code. We are excited to continue partnering with Sentry.”
“There is a skyrocketing need for solutions that address holistic application health—from backend performance to frontend code where customers interface—and this is exactly where Sentry brings value,” said Dan Levine, partner, Accel, which also has invested in Slack, Atlassian, CrowdStrike, Qualtrics, PagerDuty, and Dropbox. “With nearly all companies moving to digital-first ways of working and engaging with customers, application health has become a business-critical initiative, and as a result, Sentry is poised for explosive growth.”
Sentry’s role in building reliable software, along with its seamless integration into the developer ecosystem, appealed to new investor Jay Simons, a partner at BOND. His more than 12 years in executive leadership at Atlassian provided insight into developer challenges, especially those building products with high customer engagement.
“The importance of creating and maintaining reliable software cannot be overstated. By integrating error and performance monitoring early in the development workflow, Sentry helps developers fix and tune faster, ultimately shipping products that break less,” said Simons. “BOND is excited to be part of their ongoing journey to help shape how exceptional software gets built.”