Today we announced our $15M series B funding which was lead by Arif Janmohamed at LightSpeed Venture Partners, and also participated in by our series A investor Venky Ganesan from Menlo Ventures. Two great people who will have a huge impact on our ability to execute and grow.
First and foremost, we’d like to say thanks to our early customers and users for believing in the product and team from the early days of OverOps. Your continuous feedback and the personal stories you share motivate us to keep going and delivering the best possible solution for real-time event intelligence.
This funding was significant for several reasons. The first was that it validated to us, our customers and the investment community that OverOps had achieved product market fit. It’s critical for any startup to have their product, technology and use cases validated before any investment is made in sales and marketing. In just one year since GA OverOps has captured over 120 customers who are changing the way they troubleshoot production applications. These customers range from small startups to large enterprises like Samsung, RMS, HP Enterprise and Amdocs. I’m immensely proud of the whole OverOps team for getting us to this exciting milestone.
In our previous company VisualTao (which was acquired by AutoDesk) we experienced first hand the pain of developing and troubleshooting software for large-scale production systems that were dynamic, distributed and complex. I’ve likened this experience to performing open heart surgery on a train that’s running 100mph – somewhat time-consuming and scary.
While modern software architectures are built for speed and scale, logging and log files have remained pretty much the same for over 20 years. No matter how you look at it, logs are still too verbose and complex to analyze. Unstructured text files by nature are limited by the type of data they hold, and are growing at an exponential rate. They have also become not cheap to parse, index, store and manage.
We built OverOps to solve the limitations, cost and pain associated with analyzing log files. OverOps does this through monitoring applications at the lowest level, and extracting rich smart data in real-time. Unlike plain text log files, OverOps dynamically captures the exact application state at the moment of each error, including the complete application stack trace, source code, objects, and variables that caused it.
Our approach is radically different (and exciting) to what other vendors are doing in this space. Our mission is to tell you When, Where and Why your application code breaks in production. We think we can help you do that 10X faster than how you’re currently doing this, and we’ve got over 120 customers in production who’ve told us the same thing. We believe in collecting the right data (smart) versus collecting the commodity data (big) which lacks context, granularity and insight. Remember, – root cause analysis is only as good as the data you collect and analyze.
Now is the time for us to step on the gas and invest in our sales and marketing efforts. The response so far from candidates has been over-whelming, if you’d like to join our sales or marketing team feel free to reach out to me at firstname.lastname@example.org.