InfluxData, a US-based data analysis software provider that counts media group Bloomberg as an investor, completed a $35m series C round led by venture capital firm Sapphire Ventures yesterday.
Sapphire, which was spun out of enterprise software producer SAP, was joined by fellow VC firms Harmony Partners, Battery Ventures, Mayfield Fund and Trinity Ventures. The round boosted the company’s overall funding to $60m, it said.
InfluxData has built an open source software platform that enables users to analyse metrics and events in internet-of-things (IoT) or DevOps applications using data sourced from devices, sensors or human input.
The company plans to spend the funding on sales, marketing, and research and development as it looks to further develop its product and expand internationally. Sapphire Ventures partner Anders Ranum will join its board of directors.
InfluxData CEO Evan Kaplan said: “The demand for our category-leading platform is accelerating rapidly as developers and operators come to understand the power of a purpose-built time series platform to run their next-generation IoT, monitoring and analytics applications.
“This latest round of funding is an exciting opportunity for us to work with the amazing team at Sapphire Ventures to meet the needs of our expanding customer base both domestically and internationally, as well as deliver on our continued investment in building quality open source time series software for the broader development community.”
Bloomberg’s big data-themed corporate venturing arm, Bloomberg Beta, first invested in InfluxData in 2013, before the company added an amount indicated by a securities filing to be $9.1m the following year.
InfluxData subsequently secured $16m in a 2016 series B round led by Battery Ventures and backed by Bloomberg Beta, Mayfield and Trinity Ventures, all three of which were described as existing investors.