Total amount raised
$32.5 Million
Latest funding date
08/01/2021
Location
FireHydrant has successfully raised funding through three rounds, with notable investors including Menlo Ventures and Harmony Partners. The platform specializes in incident management, on-call alerting, and automation, aiming to help teams resolve incidents faster and prevent future occurrences.
Keep reading to explore the intricacies of FireHydrant's fundraising journey and the investors backing this innovative platform.
What Is FireHydrant?
FireHydrant is an incident management tool that helps companies recover from IT disasters more quickly. The company operates in the fields of Data Center Automation, Information Technology, and Software. Based in New York, United States, FireHydrant has between 51-100 employees.
Founded by engineers, FireHydrant offers a comprehensive platform for on-call management, AI-enriched automation, and detailed retrospectives. The platform aims to reduce the time to resolve incidents and prevent future issues, making it suitable for teams of all sizes.
How Much Funding Has FireHydrant Raised?
- Seed Round
- Amount Raised: USD 1,500,000
- Date: April 2019
- Lead Investors: Work-Bench
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need for incident management solutions.
- Series A
- Amount Raised: USD 8,000,000
- Date: April 2020
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team, enhance the platform's features, and scale operations to meet growing customer demand.
- Series B
- Amount Raised: USD 23,000,000
- Date: August 2021
- Lead Investors: Harmony Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the engineering team, accelerate product R&D, and expand internationally.
Total Amount Raised: USD 32,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Harmony Partners
- Details: Harmony Partners is a venture capital firm that led the Series B funding round for FireHydrant. They focus on growth-stage technology companies.
- Investment Focus Areas: Technology, growth-stage companies, developer tools.
- Notable Investments: InVision, Greenhouse, Namely.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that participated in both the Series A and Series B funding rounds for FireHydrant. They invest in early-stage and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Uber, Roku, Warby Parker.
- Work-Bench
- Details: Work-Bench is a venture capital firm that led the Seed round and participated in the Series B funding round for FireHydrant. They specialize in enterprise technology startups.
- Investment Focus Areas: Enterprise technology, startups, New York-based companies.
- Notable Investments: Cockroach Labs, Dialpad, Spring Health.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce and participated in the Series B funding round for FireHydrant. They focus on enterprise cloud companies.
- Investment Focus Areas: Enterprise cloud, Salesforce ecosystem, technology.
- Notable Investments: Zoom, Twilio, DocuSign.
What's Next for FireHydrant?
FireHydrant stands at the cusp of significant growth opportunities, driven by the increasing importance of software reliability. With the recent $23 million Series B funding, the company plans to expand its engineering team, accelerate product R&D, and grow its customer base. This expansion is crucial as businesses of all sizes seek robust incident management solutions to maintain operational efficiency and prevent costly disruptions.
Future fundraising opportunities seem promising, given the company's ambitious plans for international growth and product enhancement. As FireHydrant scales, it may attract further investment to support these initiatives. However, the company will need to navigate challenges such as maintaining software reliability in a complex technological landscape and competing with other incident management solutions. Effective communication and service ownership across diverse organizations will be key to overcoming these hurdles.
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