Checkly – the leading provider of synthetic monitoring powered by Monitoring as Code (MaC) and Playwright – has raised a $20 million Series B funding round led by Balderton Capital. Existing investors Accel, CRV, and Paul H. Müller also participated. In conjunction with the funding announcement, Checkly is unveiling its new Checkly Traces feature which will help engineers resolve issues even faster by connecting synthetics with tracing. In this way, engineers will have immediate insight into failures and will no longer need manual data correlation.

BOSTON, Mass., July 31, 2024 /PRNewswire-PRWeb/ -- Checkly Secures $20M from Balderton Capital to slash website downtime with 10x faster issue resolving via OTel and code-based monitoring

• Engineering teams are using Checkly to find and fix issues up to 10x faster
• Checkly's Monitoring as Code (MaC) platform provides engineers with alerts and insights in real-time, deeply integrated in their processes
• The Series B round was led by Balderton Capital, with existing investors Accel, CRV, and Paul H. Müller returning, and follows Checkly being named a Gartner Cool Vendor
• The announcement comes as Checkly announces Checkly Traces, a feature connecting synthetics with tracing to detect and resolve issues even faster

31 July, 2024: Checkly – the leading provider of synthetic monitoring powered by Monitoring as Code (MaC) and Playwright – has raised a $20 million Series B funding round led by Balderton Capital. Existing investors Accel, CRV, and Paul H. Müller also participated.

Founded in 2020, Checkly is on a mission to enable engineers to detect and resolve issues 10x faster through code-first synthetic monitoring that helps engineering teams through a code-first workflow. Checkly provides the most effective solutions for developers for proactive issue detection, before users even realize there's a problem. In today's 24/7 world, quick detection and resolution of issues is business critical both to prevent costly downtime and to meet customer expectations. Yet very few engineers have access to full observability and monitoring tools, and many of these tools still run in silos, managed separately from the app or API's code. This disconnect means the average time to repair faults is more than an hour for most businesses (82%).

Proactive and purpose-built

By integrating advanced, proactive and purpose-built synthetic monitoring tools inside repositories, Checkly ensures monitoring is always in sync with the latest code changes. Engineers and developers can simulate user interactions continuously in 20+ remote locations worldwide using automated Playwright scripts, and get automatic, real-time, accurate alerts alongside detailed insights that help them turn alerts into action. This not only makes it easier for developers to track and manage everything in one place, but it helps catch issues early, without the usual delays and false positives seen with legacy tools. All while empowering the DevOps team to understand and own the monitoring of their services.

Checkly's developer-first approach is tightly integrated, and up to 80% cheaper than legacy tools and is being used by more than 1,000 customers. Thousands of developers run 32.5M million checks on the Checkly platform each day and the platform has seen 3x growth among enterprise customers.

The monitoring and observability market is expected to grow 11.7% to $4.1bn by 2028 as downtime becomes ever more critical to businesses and Checkly has rapidly become one of the industry's leading challengers of legacy systems, recently named a Gartner Cool Vendor 2023. This recognition followed Checkly's Monitoring as Code being named an emerging practice in two Gartner Hype Cycles - Monitoring and Observability Hype Cycle and SRE Hype Cycle. Checkly's co-founders CEO Hannes Lenke, Chief Evangelist Tim Nolet, and COO Timo Euteneuer have deep understanding of the software development cycle and proven experience in building companies in web monitoring and observability.

With the new funding, Checkly plans to grow its teams, expand its reach, and further develop its code-first monitoring platform to support even faster remediation. It brings Checkly's total funding to $32.25M and will see Balderton Capital Partner, Colin Hanna join Checkly's board of directors, bringing insights and expertise to the company's growth.

Introducing Checkly Traces

In conjunction with the funding announcement, Checkly is unveiling its new Checkly Traces feature which will help engineers resolve issues even faster by connecting synthetics with tracing. In this way, engineers will have immediate insight into failures and will no longer need manual data correlation.

Hannes Lenke, CEO of Checkly said: "Today, only a fraction of engineers have access to observability and monitoring tools, many of which don't give modern development teams the insight, speed, scale or accuracy they need. At Checkly, we bring monitoring to where Engineering teams live and work – inside their code repositories. Monitoring as Code is the best way for teams to own and automate their monitoring. With our funding news, and the announcement that we're uniting synthetics with Checkly Traces, we're thrilled to be able to continue empowering engineers to detect and resolve issues faster and easier than ever before."

Colin Hanna, Partner at Balderton Capital said: "Checkly approaches monitoring and observability with a fresh perspective. Monitoring as Code means empowering developers to own the reliability of their services, APIs, and applications. This shrinks both time to resolution and the cost of observability. Some of the world's most sophisticated software companies, like Vercel and commercetools, appreciate the significance of this shift and are valuable customers. All of us at Balderton are deeply impressed with what Hannes and the team have already achieved and are grateful to be on the journey together."

"Using Checkly levels up your team to the point where it starts to feel like an unfair advantage," said James Hall, Founder at Parallax. "We've had end-to-end monitors written on many projects, and the risk is they start to die and become unmaintainable. Part of that is because of difficulties unpicking what's actually happening under the hood. Checkly Traces changes all that, making observability seamless and effective. It provides us with the necessary insights to pinpoint issues and optimize our caching strategy. The straightforward onboarding and automated trace correlation have made our troubleshooting process much faster and more efficient."

Notes for editors:

CEO Hannes Lenke was the co-founder and CEO of TestObject, later acquired by Sauce Labs. Timo Euteneuer, CCO, was the former CRO at TestObject and Enterprise Sales Lead at Sauce Labs Europe. Tim Nolet previously co-founded Vamp.io and served as Head of IT at Unu.

About Checkly

Checkly is a leading provider of Monitoring as Code solutions, empowering DevOps teams to automate their monitoring configuration and support high-velocity changes. Checkly's solutions, including the CLI, are trusted by engineering teams worldwide, enabling them to collaborate, share, optimize, and increase velocity of monitoring configurations. For more information, please visit https://checklyhq.com and follow @ChecklyHQ on Twitter.

About Balderton

Balderton Capital is a multistage venture firm with more than two decades of experience supporting Europe's best founders from Seed to IPO. We have both early and growth funds and invest across the technology sector, with a proven track record backing fintech, B2B SaaS, digital health, mobility, gaming and marketplace companies. Previous investments include Darktrace (LON: DARK), Depop, Flywire (NASDAQ: FLYW), Kobalt, MySQL, Nutmeg, Peakon.

Media Contact

Cinthia Portugal, Checkly, 1 2066198183, cinthia@checklyhq.com, https://www.checklyhq.com/

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