GRAND RAPIDS, MI, Blue Medora today announced it has closed on an $8 million Series B1 financing round.
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Blue Medora today announces it has closed on an $8 million Series B1 financing round led by First Analysis, a Chicago-based venture capital (VC) firm.
Blue Medora is a leading innovator in integration software for the most common application performance management, cloud management and database management platforms.
First Analysis will be assuming a seat on the Blue Medora board. Current investors Lewis and Clark, Wakestream Ventures and eLabs Ventures also invested in this round of funding.
"Over the past year we've seen increasing interest from our customers and partners to move away from traditional point-to-point integrations and adopt our integration software as a more comprehensive service," explains Nathan Owen, CEO and co-founder of Blue Medora. "The closing of the Series B1 is another sign that the industry continues to recognize our unique capability to deliver enterprise-class integration in new ways that the market demands."
"IT Operations teams and monitoring platform vendors are both challenged to find easy, scalable ways to collect operational IT data from emerging technologies as quickly as they appear, whether in the cloud or on-premise," explains Howard Smith, Managing Director of First Analysis. "Blue Medora has a clear vision for the future of this market and is uniquely positioned to reshape how IT monitoring integration is delivered and consumed."
Highlights for the most recent quarter include:
-Rapid growth: Grew sales nearly 130% YoY, building on a streak of seven record-breaking quarters in the last two years.
-Marquee customer adoption: Saw continued traction with large enterprise customers in data-intensive industries. New customers include: Safeway, Best Western and the University of Washington.
-Multi-platform momentum: Expanded growth in new platforms, including a 100% increase in the number of New Relic customers -- the company's strongest quarter to-date -- and the company's first six-figure SelectStar deal.
Since its founding, Blue Medora has innovated deep performance inspection capabilities across disparate enterprise technologies, at tremendous scale and quality. Blue Medora's IT system data portfolio now stands at more than 50 different technologies, enhancing the monitoring and analytics engines of VMware, New Relic, Oracle and others. This "full stack" approach solves unique challenges for customers seeking best of breed telemetry and management across multiple IT teams, operating across hybrid/heterogeneous environments.
With this investment, Blue Medora will continue to innovate delivering IT monitoring integration as-a-Service, expand its global reach, and accelerate its leadership position in the industry through continued expansion of sales, marketing and R&D investments to support the growing adoption of the SelectStar database performance monitoring platform and the increasing interest in the company's expertise connecting IT systems health and behavior data with the world's best analytics platforms.
About Blue Medora
Blue Medora software extends the leading cloud management, APM and IT operational analytics platforms by bringing in critical health, performance and relationship data on the underlying compute, storage and network infrastructure. Blue Medora also offers its own heterogeneous database performance-monitoring platform, SelectStar that combines comprehensive database and cloud infrastructure monitoring to help organizations track and optimize critical database performance and availability metrics.
Blue Medora's products enable IT operations and DevOps teams to work collaboratively and proactively to avoid downtime, resolve performance problems and make better decisions using more comprehensive analytics. Blue Medora believes true visibility into business-critical applications is only achieved when enterprise technology teams communicate without barriers.
About First Analysis
First Analysis is a leading venture capital investor, now in its fourth decade of venture investing and investing from its 13th fund. We use our integrative research process to uncover and leverage the best opportunities in emerging high-growth segments in technology and healthcare for the benefit of the investors and growth companies we serve, as well as our broader society and environment. The integrative research process drives success by unifying naturally divergent perspectives, capabilities, skillsets, and relationships. The process integrates 1) dynamic investment research on thousands of publicly traded and privately held companies with 2) thousands of relationships among executives, investors, and other key participants in our focus areas, yielding a deep, comprehensive understanding of each segment's near-term and long-term potential. We help established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Our flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective.