Leading application monitoring services provider Sentry has reportedly secured USD 60 million in a Series D funding round which was led by American venture capital firm Accel. The funding round also saw participation from Sentry’s existing stakeholder New Enterprise Associates and a new investor BOND.
The recent funding round totaled USD 127 million, with Sentry reaching USD 1 billion mark post-funding, sources claimed. It is to be noted that Accel was the first stakeholder in Sentry, leading its 2015 seed round, and has increased its stake with every subsequent funding round over the years.
These fresh investments would be used to innovate its renowned Application Monitoring platform as well as expand its Performance Monitoring capabilities. The company also reportedly intends to use the funds to boost go-to-market functions as well as for new recruitment in its Vienna, Toronto, and San Francisco offices.
For those unfamiliar, Sentry, which is now serving around 68,000 enterprises across the globe, has been revolutionizing application monitoring to make it affordable, easier, and faster for developers to manage their digital services as well as applications. The company has been making serious growth in digitally focused industries including streaming media, gaming, and technology companies.
Sentry allows software teams to connect the gaps in their backend and frontend codes by providing solutions for performance and error monitoring in several languages and platforms, further enabling them to not only retain and grow their consumer base but also drive revenue.
One of Accel's partners, Dan Levine, was reported saying that application health monitoring has emerged to be a business-critical aspect with several companies moving to digital operations, which in turn will boost Sentry’s growth.
Lately, Sentry has also been paving the way among enterprises operating in healthcare, commerce, and financial services sectors, aiding them with digital transformation to offer improved services, cited sources close to the company.
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