Saturday, November 23, 2024

Cribl Charges Into 2022 On the Heels of Record-Breaking Fiscal 2021 and Massive Growth in Observability

Cribl, the leading Observability Pipeline company, announced the results of its 2021 fiscal year, which was marked by surging customer demand, massive employee growth, and major funding, illustrating the soaring momentum of the observability category. The company more than tripled its number of customers, with 10 of the Fortune 50 companies signing on as Cribl customers, and expanded its team by over 300%, setting the stage for an outstanding FY2022.

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“2021 was a breakout year for Cribl, and our results validate that our unique approach to observability is resonating, even in a competitive market,” said Clint Sharp, CEO and co-founder of Cribl. “Today’s enterprises have more data than ever before, but they lack the choice and control needed to make meaningful use of it. We’ve helped many customers solve that problem through our open and flexible solution. We’re proud of our undeniable momentum, and we remain focused on continued innovation and growth so that we can empower more customers around the world to unlock the value of all their observability data.”

Financial Highlights, Customer Wins, and Industry Recognitions:

● Rapid customer growth: Cribl tripled its customer base, adding new brands such as Siemens EDA (formerly Mentor Graphics), New Balance, ReliaQuest, SpyCloud, and Vodafone New Zealand, with average deal size increasing by nearly 50% year-over-year.

“We love that Cribl is simple and fast to use. The intuitive software makes our team’s experience of integrating logging sources and destinations quick and easy,” said Josh Reedy, Security Services Manager at Vodafone New Zealand. “The flexibility of Cribl is helping us to reduce costs and enable our teams to work on high value data.”

Fast-growing subscription business: Cribl achieved 300% increase year-over-year in annual recurring revenue (January 31, 2022 over January 31, 2021).

Continued interest from the investor community: In August, Cribl raised $200 million in Series C funding, led by Greylock and Redpoint Ventures, joined by new investor IVP, existing investors Sequoia and CRV, and with strategic investment from Citi Ventures and CrowdStrike.

Industry recognition: Cribl was named a Cool Vendor by Gartner, a 2021 AWS Rising Star ISV Partner of the Year, and aCloud 100 Company by CRN

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