App performance monitoring platform Sentry nabs $90M

Sentry, an application performance monitoring (APM) platform used by some of the world’s biggest companies, has raised $90 million in a series E round of funding.

Founded in 2012, Sentry helps businesses such as Microsoft, Disney, Slack and Atlassian track all their software behavior metrics and troubleshoot errors, resolve performance bottlenecks such as ill-performing API calls or slow database queries and more.

Ultimately, Sentry is all about optimizing software performance, given that even a second’s lag or downtime can create significant user churn.

Unicorn status and beyond

Today’s funding comes six months after Sentry made its first-ever acquisition, snapping up mobile app performance platform Specto for an undisclosed amount. While Sentry already offered some of its own mobile APM tools, Specto’s specialization in collecting performance metrics from iOS and Android apps enabled Sentry to go deeper with its support for smartphone-based software.

The San Francisco-based company had previously raised around $127 million, including a $60 million tranche last year that elevated it to unicorn status with a $1 billion valuation. With another $90 million in the bank and a valuation of more than triple last year’s figure at $3 billion, Sentry plans to build on its recent revenue growth by opening a new hub in Europe, while investing in product development and boosting its headcount across the board.

“Revenue has more than tripled in just over two years and our team will continue to be laser-focused on providing engineering organizations with the ability to ship better code faster,” Sentry CEO Milin Desai noted in a press release.

Sentry’s series E round was co-led by Bond and Accel, with participation from New Enterprise Associates and K5 Global.