Coatue-Backed Grafana Seeks Funds at $5 Billion-Plus Value (1)

Software maker Grafana Labs is in talks to raise new funding at a valuation of at least $5 billion, a steep increase from the $3 billion it reached seven months ago.

The enterprise-technology business is in talks with existing investors including Sequoia Capital, Coatue Management, Lightspeed Venture Partners, Lead Edge Capital and GIC regarding the capital raise, said the people, who asked not to be identified discussing private information. GIC is in discussions to lead the round, which could total $250 million to $275 million, some of the people said.

Proceeds may be used toward mergers and acquisitions, one of ...