Chronosphere, a cloud native monitoring solution established in 2019 by a pair of former Uber engineers, today revealed a $43.4 million Series B funding round. Concurrent with this announcement, the company declared that its service is now generally available to the public.

This funding round was spearheaded by Greylock, Lux Capital, and venture investor Lee Fixel, all of whom were also participants in the startup’s initial $11 million Series A funding in 2019. General Atlantic joined as a new investor in this latest round, bringing the company’s total funding to $54.4 million.

The company’s founders, Martin Mao, serving as CEO, and Rob Skillington, the CTO, originally developed the M3 open-source monitoring project during their tenure at Uber. They subsequently departed in 2019 to establish Chronosphere, a company built upon the foundations of that project. As Mao explained during the Series A round, the company’s aim was to streamline the process of managing the open-source project.

He indicated that the previous year was largely dedicated to refining the product and collaborating with beta users, emphasizing the advantages gained from constructing the commercial service on top of the existing open-source foundation.

“We believe we are fortunate to have the groundwork already laid by the open-source project,” he stated, “but our primary focus was on developing a distinct product built upon that technology, and that was the central objective for 2020.”

Mao explained that the company wasn’t actively seeking this new funding round, as sufficient capital remained from the Series A. However, existing investors approached them with the opportunity, and they decided to proceed to bolster the company’s financial position, facilitating growth, attracting talent, and providing customers with assurance regarding the company’s long-term stability and continued product development.

Over the past year, the company has experienced significant growth in its workforce, expanding from 13 employees at the time of the Series A in 2019 to a current team of 50, with plans to reach 100 by the end of the following year. Mao noted that the founders prioritized building a diverse company from its inception.

“From the beginning of last year, we concentrated on recruiting the appropriate leaders and a dedicated recruiting team committed to diversity. Following this, we established company-wide objectives and benchmarks for both gender and ethnic diversity, and we are consistently monitoring our progress against these goals,” Mao said.

The company has maintained a distributed workforce from its early stages, even prior to the COVID-19 pandemic, with offices in Seattle, New York, and Lithuania. This geographical distribution has broadened the talent pool available for recruitment. Mao intends to maintain a predominantly remote work environment whenever feasible, while preserving regional hubs where employees can connect in person.

Now that the product is generally available, the company intends to broaden its customer base, leveraging the popularity of the open-source project to generate interest in the commercial offering.