Foley Hoag Advises Datadog in $15M Series B Financing
February 5, 2014
Foley Hoag LLP advised Datadog, a SaaS-based monitoring and data analytics platform that provides a unified view of IT infrastructure in its $15 million Series B financing.
Datadog is a monitoring service that brings together data from servers, databases, applications, tools and services to present a unified view of the infrastructure. These capabilities are provided on a SaaS-based data analytics platform that enables Dev and Ops teams to work collaboratively on the infrastructure to avoid downtime, resolve performance problems and ensure that development and deployment cycles finish on time. Datadog achieved dramatic growth in 2013, adding hundreds of customers and bringing over 30,000 servers onto its monitoring service. The company also further positioned itself for continued strong growth in 2014 by expanding its compatibility beyond Amazon Web Services (AWS) with the release of HP Cloud, Microsoft Azure, Red Hat OpenShift, and OpenStack integrations.
Foley Hoag attorneys Mark Haddad and Jon Romiti advised Datadog on the transaction. Openview Venture Partners led the Series B financing with follow-on investments from Index Ventures, RTP Ventures, Amplify Partners, IA Ventures and Contour Ventures. Dev Ittycheria, OpenView’s Managing Director and former Founder and CEO of BladeLogic, will join the company’s board of directors.
Datadog will use the latest financing to accelerate the development of its next-generation monitoring platform for highly scalable cloud infrastructure. The company will also be aggressively growing its engineering division and expanding its sales and marketing teams in New York and Boston to meet the increasing market demand.
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