San Francisco-based data infrastructure startup Cribl has raised $319 million in a Series E funding tranche led by new investor GV (Alphabet’s corporate venture arm) with participation from GIC, CapitalG, IVP and CRV. Bringing Cribl’s total raised to $600 million, the cash injection values the company at $3.5 billion — up around 40% from Cribl’s Series D valuation in 2022.
The investment was one of the largest in GV’s 15-year history, Cribl claims. As a part of the deal, GV general partner Michael McBride will join Cribl’s board of directors.
Cribl’s software helps to analyze, collect, process and route IT and security data to various systems, databases and data stores. It’s benefitted from the massive expansion in corporate data over the past few years, which has led companies to search for “data ops” and orchestration solutions; an estimated 80% of worldwide data could reside in enterprises by 2025.
Cribl’s riding high, claiming to have 25% of the Fortune 500 as clients and annual recurring revenue (ARR) surpassing $100 million. (Cribl’s customer base has grown “triple digits” year-over-year in the last five years while ARR has climbed 163% CAGR in each of the past four.) The roughly-700-employee company isn’t yet cash-flow positive, but it aims to be by 2025. After that, an IPO is on the table.
