Groundcover, a startup whose cloud observability platform uses a novel pricing model and eBPF technology, has raised $100 million in Series C funding.
One Peak led the round, joined by Morgan Stanley, Zeev Ventures, Angular Ventures, Heavybit and Jibe. The deal values Groundcover at $500 million, according to CTech.
Most observability tools charge based on the volume of telemetry data customers ingest, which forces companies to limit monitoring to keep costs down. Groundcover flips that model, charging by environment rather than data volume, making it economically viable to monitor lower-priority workloads that would otherwise remain unobserved.
The company uses eBPF, a Linux kernel technology, to collect telemetry without requiring code changes or instrumentation. Customers can install Groundcover’s sensor in minutes and begin collecting logs, metrics and traces at rates of several gigabytes per second.
Groundcover says more than 250 organizations use the platform, with several signing seven-figure deals in the past year. The company plans to use the new capital to accelerate North American go-to-market efforts, grow international presence, and expand partner programs with cloud providers.
