We are excited to announce that we have raised a $12M round of financing led by Renegade Partners with participation from Google Gradient Ventures (Google’s AI-focused venture fund) and XYZ Ventures. This brings our total funding to date to $15.2M ($20M CAD) alongside our other existing investors Y Combinator and 8VC.
We are privileged to continue helping enterprises like Tripadvisor, Elastic, NVIDIA and 100s more including critical services like 911 call centres and suicide hotlines become more resilient.
"Rootly has become an essential part of our incident response process, helping our team spend more time on resolution and less time on organizing the manual admin work. We've been able to cut our resolution times in half and reduce the number of repeat incidents occurring over time. Rootly has been one of our best IT investments in terms of ROI.” said Geoff Powell, Manager of Technical Operations at Tripadvisor
We’ve been hard at work. Some stats along the way 🤯.
- 60,000+ incidents declared on Rootly (and growing rapidly)
- 80% faster resolution times (MTTR) on average
- 10+ hours saved per incident on average
- 55% reduction of repeat incidents within first 90 days
- Time to adoption < 1 week for companies larger than 1,000 users
- Expanded to 35+ employees around the world (USA, Canada, UK, Portugal, Singapore)
- Grew revenue by 400% in the last 12 months and 100% customer retention rate
- Ranked #1 on G2 for incident management for enterprise, support, and ROI categories
It was critical we extended our team to those that have built category defining companies but also have fundamentally transformed the reliability space forever. That’s why we are thrilled to welcome Roseanne Wincek, Co-founder and Managing Director of Renegade Partners to our board. She currently sits on the board for MasterClass and has invested in companies such as Looker.
“Rootly has a world-class team, strong business fundamentals, sustained growth, and is serving a mission-critical need for engineering teams. This is a crucial technology infrastructure that companies need and will invest in even in a challenging economy.” said Roseanne Wincek.
Back in 2003, Google pioneered the original concept of "SRE", which marked a revolutionary change in how software teams approached driving reliability, defining the gold standard framework for thousands of companies. Two decades later, Google’s VC arm (Gradient Ventures) sees Rootly becoming the de facto way for how companies will manage incidents in the future and driving a similar change in the market.
What’s Next for Rootly?
We are just at the beginning of what is possible, and the journey ahead is even more exciting. We will use the funding to accelerate our ambitious product roadmap in order to continue to increase our global footprint. Prioritizing investments in engineering, sales and marketing will enable us to meet the steep market demand from new and existing customers seeking Rootly's incident management solution.
We are incredibly grateful to our amazing customers, investors, and the 35+ team members at Rootly who pour their hearts into their work every day, making it all possible! 💛
🌎 Looking for a new challenge? We are hiring across USA, Canada, UK, and Singapore! https://rootly.com/careers
🥇 Want to learn more about how Rootly can help your organization? https://rootly.com/demo
Okay, now back to work!
—JJ and Quentin