Instana secures USD6m led by Target Partners
Instana Inc has raised a USD6 million investment led by venture capital firm Target Partners with participation of Codecentric, a German IT consulting firm.
Instana is tackling the problem of monitoring and managing the increasingly complex big data and microservices architectures; humans can no longer monitor these systems by simply collecting data and building “dashboards”. Through auto-discovering the application’s technologies and topology, Instana is able to deliver unprecedented clarity into the health and performance of these modern architectures. The startup pairs its own ever increasing knowledge base with a machine learning approach to predict future performance degradation or downtime, identify service interdependencies, and offer actionable advice to bring a system back to good health. Stan, Instana’s virtual DevOps assistant, offers advice that includes exact root-cause and suggestions for remediation.
“We are thrilled to have Target Partners and Codecentric on board to support us at this exciting point in our journey,” says Mirko Novakovic, co-founder and CEO of Instana.
The company has recently established a footprint in the U.S. and has been named as a Gartner Cool Vendor in the “Cool Vendors in Availability and Performance, 2016” report by Gartner, Inc., the world's leading IT research and advisory company.
“The Instana team has consistently impressed us with their understanding of the demands of application performance monitoring and their vision for where this industry is headed. The value that their technology creates is unparalleled in the market, and feedback from early customers could not be more positive,” says Berthold von Freyberg, Partner at Target Partners. According to Gartner, Instana is operating in a market worth USD2.6 billion growing by 15.8 per cent per year.
“Thanks to next generation software architectures, large cloud providers such as Amazon and Google are reinventing the way in which IT services can be delivered. Instana’s concept to dynamically discover and model these modern architectures brings a new approach to monitoring such environments,” says Rainer Vehns, co-founder of Codecentric.
Instana is a spin-off from Codecentric and was founded by Mirko Novakovic (CEO), Pete Abrams (COO), Fabian Lange (VP of Engineering), and Pavlo Baron (CTO) in April 2015. The development team has more than 100 years of professional experience in application performance, big data and machine learning. The team has a total number of 23 employees.