Cribl Closes $319 Million Funding Round Led by Google Ventures

Cribl has closed a $319 million Series E funding round, bringing its total capital secured to more than $600 million.

This latest funding round increases Cribl’s valuation to $3.5 billion, up 40% since its Series D funding round in 2022.

New Cribl investor Google Ventures played a significant role; in fact, this marks one of its biggest investments to date. The investment was led by Michael McBride, Google Ventures’ general partner and former GitLab chief revenue officer, who joined Cribl’s board of directors.

GIC, CapitalG, IVP and CRV also participated in the funding round. This funding comes on the heels of Cribl surpassing $100 million in annual recurring revenue (ARR) in less than four years.

Funding Round to Benefit Cribl Partners

Abby Strong, Cribl’s chief market officer, said Cribl is a channel-first company and this funding will be used to expand go-to-market strategy and investment in its partner community, including product innovation, community expansion and entrance into new markets.

Cribl's Abby Strong

“At the end of the day, our partners are essential to getting our products into the hands of customers to solve their specific needs,” she said. “With an expanded product footprint, a larger ecosystem of technology integrations and operations in new markets, our partners will have more options than ever before to bring the data engine for IT and security to their clients.”

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More than 90% of Cribl's business is run through channel partners, and “they play an essential role in unlocking our ability to scale and expand into new regions and markets,” Strong said.

“They deeply know their clients, their industries, and the evolving needs of the markets and segments they serve,” she said. “They also represent the premier solutions helping customers solve all their extensive IT and security challenges, and Cribl is an important part of growth for the greater ecosystem of products, too. We’re incredibly proud to bring them innovative technology they can shape to drive real value for users and practitioners.”

Creating ‘Lasting, Meaningful’ Value for Customers

Cribl knows IT and security needs are growing, driven by the chasm between the growth of enterprise data, and the budgets and resources they have to manage all this data, Strong said.

“With the new funding, we’re able to double down on what led us to today’s round in the first place,” she said. “That’s solving real problems for real people. Whether that means expanding our own portfolio of products, deepening our relationships across the technology ecosystem, or growing our presence in the channel, Cribl and our partners have never been in a better position to create lasting, meaningful value for customers.”

Partners can expect to see more integrations across the technology stack, making it easier to increase products and services in their portfolio, and deliver as much value as possible to their respective customers, Strong said.

“We will also be expanding our Technology Alliance Partner Program to provide new integrations with the world’s most widely used technology providers, expanded partner support, and increased choice for customers to select the data management tools that best fit their needs,” she said.
"Every company must modernize its data stack as legacy systems already can’t handle today’s rapid data growth, and the arrival of AI further accelerates the need for a modern data platform,” McBride said. “Cribl’s rapid growth has come from the consistent and powerful results experienced by its customers. It’s an honor to partner with Cribl’s deeply technical and seasoned team as they define the data platform category, similar to the way Salesforce did for sales and marketing, and GitLab did for DevSecOps.”