Instana, a company that helps enterprises monitor and manage their microservice deployments with the help of automation and artificial intelligence, today announced that it has raised a $20 million Series B round led by Accel, with participation from existing investor Target Partners. This brings Instana’s total funding to $26 million to date.
Launched in 2015, Instana bills itself as a next-gen application performance management (APM) solution that focuses on monitoring the kind of dynamic modern applications that are slowly starting to crop up in the enterprise thanks to the help of containers and microservices. Instana’s promise is that once users have installed its agent on their servers, it can detect and map all of the different components that make up these applications and that it can map the interactions and dependencies between them in real time. It then uses the information it gathers to automatically detect anomalies.
“Since our incubation in Germany, Instana focused on delivering to the needs of monitoring today’s modern dynamic application environments,” said Mirko Novakovic, Instana founder and CEO. “By providing a unique AI-powered solution, we’ve succeeded in driving rapid customer adoption, having been deployed at nearly 100 enterprise customers globally in just 10 months. The addition of Accel to our existing investor, Target Partners, is another strong endorsement; their guidance and support will be critical as Instana continues to scale, mature and succeed.”
The company plans to use the new funding to expand its product development team and “fulfill the demand…