Instana, an application performance management (APM) platform for dynamic applications deployed in the enterprise, has raised $30 million in a series C round of funding led by Meritech Capital, with participation from its series B lead investor, Accel.
Founded in 2015, Instana offers enterprises automated APM services that leverage artificial intelligence (AI) to monitor their infrastructure and application performance. It maps the various components and interactions between applications and servers and spots anomalies in performance, throughput, error rates, and other issues when they occur.
Instana had previously raised $27 million in funding, and with another $30 million in the bank the company plans to grow its product offering and expand into more international markets.
Instana nestles in an industry that counts the likes of publicly listed New Relic and AppDynamics, the latter of which was snapped up by Cisco for $3.7 billion ahead of a planned IPO in 2017. Elsewhere, another player in the APM space, Dynatrace, is reportedly mulling an IPO or a sale. So there are some big APM players out there already, but Instana posits that its next-gen APM platform, which it refers to as APM 3.0, is “built for the modern software organization.”
“Technologically and organizationally, Instana is well positioned to be the leader of the APM 3.0,” said Instana cofounder and COO Pete Abrams. “The high rate of change of modern applications…