FireHydrant Raises $23M Series B to Expand Disaster Management Platform
Responding to System Failures: FireHydrant Secures $23 Million
Despite meticulous system setup, critical failures are inevitable. The manner in which organizations react during these times, and the speed of their response, significantly shapes public perception following the resolution of a crisis. FireHydrant, a company specializing in crisis preparedness and management solutions, has recently announced a $23 million Series B funding round.
Investment Details
Harmony Partners spearheaded the investment, with additional participation from Salesforce Ventures, alongside existing investors Menlo Ventures and Work-Bench. This latest funding brings the company’s total raised capital to $32.5 million.
Focus on Crisis Navigation and Run Books
FireHydrant’s core offering centers around assisting clients in navigating crisis situations. A key component of this is the utilization of run books, which function as detailed playbooks for addressing various potential crises as they unfold. The company has expanded its capabilities by introducing a service owner directory, streamlining the process of identifying responsible individuals for specific services, whether as the source or the point of impact during an incident.
Significant Customer Growth
Robert Ross, co-founder and CEO of FireHydrant, reports a fivefold increase in their customer base since the Series A funding round last year. He also notes that customers are discovering innovative applications for the company’s run book functionality.
Innovative Use of Run Books
“The run books represent the central functionality of FireHydrant, and we’re observing customers employing them in ways we hadn’t initially envisioned,” Ross explained to TechCrunch. “They are exceeding expectations, particularly in areas like incident onboarding and improved incident communication. This creative application has been very encouraging.”
Incident Management as a Business Imperative
Ross emphasizes a shift in perspective, advocating for the recognition of incident management as a business-level concern, rather than solely an engineering issue. Prolonged service outages are not perceived as technical failures by the public; instead, they are viewed as indicators of overall business shortcomings and operational deficiencies.
The Impact of Site Reliability
“I firmly believe that site reliability fundamentally impacts business performance,” Ross stated. “Even minor issues, such as application glitches, can lead to customer dissatisfaction.”
Company Expansion and DEI Initiatives
Since May 2020, FireHydrant has experienced substantial growth, increasing its workforce from 10 to 54 employees. Ross is committed to prioritizing diversity, equity, and inclusion (DEI) throughout the organization, beginning with recruitment practices. “Our approach is that DEI begins at the top of the hiring funnel, and we’ve dedicated significant effort to ensuring this,” he said.
Remote-First Approach and Future Office Hubs
With the ongoing evolution of the pandemic, Ross has no plans to mandate a return to the office. The company has been actively hiring remotely since the pandemic’s onset. While a small office exists in New York City, attendance is not required. Ross is exploring the possibility of establishing additional office hubs in Austin, Denver, and San Diego as the pandemic subsides.
