Sentry Triples Unicorn Valuation With New $90M Raise

Software rules the world and when it slows down or behaves erratically, companies can lose customers.

That may be why San Francisco-based Sentry was able to triple its valuation in less than 15 months after locking down a $90 million Series E co-led by BOND and Accel.

Existing investor New Enterprise Associates (NEA) and new investor K5 Global also participated in the round.

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The round brings Sentry’s valuation to more than $3 billion. In February 2021, the company raised a $60 million Series D at a $1 billion valuation.

Sentry’s application performance monitoring (APM) platform tries to help developers solve issues in production code by using one tool to monitor for errors, performance and health.

APM platforms have become more important to help developers alleviate performance bottlenecks as software has proliferated and customers demand a fast, streamlined performance.

Sentry is not alone in the space. Other large companies such as Datadog and Compuware’s Dynatrace also offer APM tools. One of the biggest deals ever in the space was Cisco’s $3.7 billion acquisition of AppDynamics in March 2017.

Sentry plans on using the new cash for product development, hiring and global expansion in Europe.

Founded in 2012, Sentry has now raised $217 million, according to the company.

Illustration: Li-Anne Dias.