Total amount raised
$28 Million
Latest funding date
09/01/2018
Location
Gremlin has successfully raised funds through three distinct funding rounds, with notable backing from investors such as Redpoint Ventures and Amplify Partners. The most recent funding round was a Series B, led by Redpoint Ventures.
Gremlin's platform specializes in reliability management and chaos engineering, offering tools to enhance system reliability and trust in complex systems. Keep reading to explore the intricacies of Gremlin's fundraising journey and the investors backing this innovative platform.
What Is Gremlin?
Gremlin is a private company based in San Jose, California, specializing in reliability testing and chaos engineering. The company operates in the PaaS, SaaS, and Software industries and has an employee count ranging from 51 to 100.
Gremlin offers a platform that combines Chaos Engineering, Reliability Management, and Reliability Intelligence to help organizations build more reliable software. Their solutions cater to various industries, including SaaS, Finance, and Retail, and they are trusted by top Fortune 500 organizations.
How Much Funding Has Gremlin Raised?
- Seed Round
- Amount Raised: USD 1,250,000
- Date: January 2016
- Lead Investors: Amplify Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Gremlin's chaos engineering platform.
- Series A
- Amount Raised: USD 7,500,000
- Date: December 2017
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the engineering team.
- Series B
- Amount Raised: USD 18,000,000
- Date: September 2018
- Lead Investors: Redpoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and introduce new features like Application Level Fault Injection (ALFI).
Gremlin has raised a total of USD 26,750,000 in funding. The current valuation is not publicly disclosed.
Key Investors
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in startups across various stages and sectors. They led the $18 million Series B funding round for Gremlin.
- Investment Focus Areas: Technology, healthcare, consumer software, enterprise software.
- Notable Investments: Netflix, Stripe, Twilio, Snowflake.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies across various stages. They led the $7.5 million Series A funding round for Gremlin.
- Investment Focus Areas: E-commerce, fintech, enterprise software, security.
- Notable Investments: Dropbox, Slack, Robinhood, Adyen.
- Amplify Partners
- Details: Amplify Partners is a venture capital firm that focuses on early-stage investments in technology companies. They participated in the seed funding round for Gremlin.
- Investment Focus Areas: Enterprise software, infrastructure, data-driven applications.
- Notable Investments: Datadog, Fastly, Gremlin.
What's Next for Gremlin?
Gremlin stands at the forefront of a burgeoning market, offering a "Failure-as-a-Service" platform that helps engineers identify system weaknesses before they impact customers. With the launch of Application Level Fault Injection (ALFI), Gremlin is poised to capitalize on the growing need for robust failure testing in complex, serverless environments. This opportunity is substantial, as the company has already secured $18 million in Series B funding, indicating strong investor confidence.
As Gremlin continues to innovate, future fundraising rounds seem likely, especially given the increasing complexity of web applications and the critical need for uptime and reliability. However, the company will need to navigate challenges such as competition from other resiliency testing solutions and the necessity to continuously improve their platform to stay ahead in a rapidly evolving tech landscape.
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