(Reuters) – Chronosphere has raised an additional $115 million in funding from new investors Alphabet Inc’s GV and Geodesic Capital, the cloud-based data organization platform said on Tuesday, valuing the company at $1.6 billion.
The latest round saw participation from existing investors Addition, Founders Fund, General Atlantic and Greylock, among others, and brings the company’s total funding to $343 million.
The fundraise comes at a challenging time for the venture investing market in the United States, which over the past year pulled back from late-stage companies as worries of a looming recession and fast-rising interest rates dried up exits.
The cloud native data manager, which counts online brokerage Robinhood Markets and payments giant Visa Inc among its enterprise customers, said it will use the capital to support the go-to-market efforts of its platform.
The extended round adds to Chronosphere’s series C raise from last year, where it had raised $200 million led by private equity giant General Atlantic.
(Reporting by Anirban Chakroborti in Bengaluru; Editing by Shailesh Kuber)
