Grafana Labs Raises $220 Million Round at $3 Billion Valuation

Software maker Grafana Labs has received a new investment that values the startup at $3 billion, a tenfold increase from two years ago.

The enterprise technology business said it raised $220 million in a funding round co-led by Sequoia Capital and Coatue Management. Existing investors Lightspeed Venture Partners, Lead Edge Capital and GIC also participated.

The business works with customers such as JPMorgan Chase & Co. and PayPal Holdings Inc. to help visualize their data in dashboards that allow for better monitoring. Grafana’s customers include Bloomberg LP, the parent of Bloomberg News.

System lapses can cost such companies ...