Today our portfolio company Stackdriver announced the GA version of its intelligent monitoring solution for cloud-based infrastructure, systems & applications. They concurrently announced that Flybridge, alongside the company's Series A investor Bain Capital Ventures, led the company's $10M Series B financing and that I will be joining the company's Board.
Flybridge does not commonly lead Series B investments, but Stackdriver is not a common company. A few things stood out for us as we got to know the team and the company over the last several months.
First, the company hits squarely on two themes – the cloud, in particular the public cloud, is the dominant platform for new application deployments and that building a passionate base of Developers and DevOps professionals is key to driving adoption in this environment. We previously wrote about the cloud here and developer adoption here. In particular, Stackdriver has nailed the first two points from the developer post: rapid time to value through a two minute setup process and a fully functioning free version of the product to drive widespread adoption.
Second, this product excellence and value has led to rapid adoption with the company growing to over 400 customers since its beta launch earlier this year. At Flybridge, we track key adoption metrics for our portfolio and prospective investments closely and Stackdriver is showing month over month growth on all relevant metrics that is in the top echelon of its peers. Further, customers love the product and are increasing the breadth and depth of its usage well ahead of expectations. If you are so inclined (blatant plug), the company's product can be found here.
Third, and most importantly, we love the team at Stackdriver. The company's two co-founder, Izzy Azeri and Dan Belcher, embody entrepreneurial leadership with their smarts, a history of success at companies such as VMWare, EMC, Acronis and Sonian, an ability to surround themselves with talented resources and an unbelievable work ethic (including regularly doing demos with prospective European customers long before the sun rises).
We are thrilled to be in business with this talented team going after a large and exciting market and look forward to being part of their success.