Total amount raised
$32.5 Millions
Latest funding date
08/01/2021
Location
FireHydrant has successfully raised significant funding through multiple rounds, with its latest being a Series B round closed on August 10, 2021. The platform is backed by notable investors, including Menlo Ventures and Harmony Partners.
FireHydrant offers an all-in-one solution for alerting, on-call management, and incident management, helping companies plan, respond, and improve their processes. Keep reading to explore the intricacies of FireHydrant's fundraising journey and the investors backing this innovative platform.
What Is FireHydrant?
FireHydrant, founded in 2018 by Robert Ross, is headquartered in New York, New York. The company operates within the data center automation, information technology, and software industries. With an employee count ranging from 51 to 100, FireHydrant is dedicated to helping companies recover from IT disasters more efficiently.
The platform offers a suite of tools for incident management, including incident response, process automation, and incident analytics. FireHydrant aims to streamline and automate the incident management process, providing comprehensive solutions for on-call scheduling, AI-enriched automation, and service catalogs.
How Much Funding Has FireHydrant Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: April 2019
- Lead Investors: Work-Bench
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for the company's growth and development in the incident management space.
- Series A
- Amount Raised: $8M
- Date: April 2020
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development to meet growing market demands.
- Series B
- Amount Raised: $23M
- Date: August 2021
- Lead Investors: Harmony Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the engineering team, enhance product R&D, and support international growth.
Total Amount Raised: $32.5M. 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 investing in growth-stage technology companies.
- Investment Focus Areas: Technology, growth-stage companies, engineering solutions.
- 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 consumer, enterprise, and life sciences companies.
- Investment Focus Areas: Consumer technology, enterprise technology, life sciences.
- 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 focus on enterprise technology startups.
- Investment Focus Areas: Enterprise technology, developer tools, infrastructure.
- Notable Investments: Cockroach Labs, Dialpad, Socure.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce and participated in the Series B funding round for FireHydrant. They invest in enterprise cloud companies that extend the power of the Salesforce platform.
- Investment Focus Areas: Enterprise cloud, customer experience, Salesforce ecosystem.
- Notable Investments: Zoom, Twilio, DocuSign.
What's Next for FireHydrant?
FireHydrant is poised to capitalize on the growing importance of software reliability, with significant opportunities to expand its engineering team and enhance its product offerings. The $23 million Series B funding will enable the company to double its size and support businesses in building reliable software, addressing a critical need in today's technology-driven world.
Future fundraising opportunities seem promising as FireHydrant continues to innovate and expand its market reach. The company's focus on international growth and customer acquisition suggests that additional funding rounds could be on the horizon to support these ambitious plans.
However, FireHydrant may face challenges such as scaling its platform to meet increased demand and maintaining high reliability and performance. Competing with other incident management solutions and managing the complexities of international expansion will also be critical hurdles to overcome.
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