Silicon Valley-based Big Data startup Unravel Data, which provides an application performance management platform, has secured $15 million (Rs 95.4 crore) in a Series B funding round by GGV Capital.
The latest round takes the total funds raised by the firm, which was founded by India-born entrepreneurs Kunal Agarwal and B Shivnath Babu, to $23 million.
The investment will be used to hire sales and marketing staff and boost product development, the startup said.
"Enterprises are running mission-critical applications on Big Data platforms. They are looking for ways to ensure that their entire stack works like a well-oiled machine. That’s where APM comes in. Our customer base and revenue grew by 300% and we achieved a 100% renewal rate in 2017,” said Kunal Agarwal, CEO, Unravel Data.
According to Agarwal, the startup is planning to open an office in India.
Glenn Solomon, managing partner at GGV Capital, will join Unravel’s board of directors.
“Unravel Data has emerged as the clear leader in application performance management for Big Data systems. At GGV Capital, we seek to invest in innovators addressing huge markets with world-class technology,” said Solomon.
“Unravel’s performance management and visibility solution is a must have for Big Data environments, the return on investment is rapid and meaningful, and the technology is unique and best in class,” he said.
According to the company, Unravel’s solutions are used to operationalise the Big Data stack and improve reliability of applications and productivity of Big Data teams while reducing cost of ownership. The company's clients include healthcare providers such as Kaiser Permanente and data-driven technology companies such as Autodesk, YP and Leidos.
“Unravel's AI-driven APM platform for Big Data applications has great potential for enterprise customers who are looking to build a self-healing application infrastructure,” said Rashmi Gopinath, partner, Microsoft Ventures.
GGV Capital is a multi-stage venture capital firm based in Silicon Valley with offices in Shanghai and Beijing. With $3.8 billion in capital under management across eight funds, GGV invests in consumer internet, e-commerce, frontier- tech and enterprise/cloud sectors.
The VC firm has already invested in over 200 companies including Airbnb, Alibaba, Ctrip, Didi, DOMO, Hashicorp, Hellobike, Houzz, Keep, Slack, Square, Toutiao, Wish, Xiaohongshu and YY.