Nobl9, the service level observability company, announced that it has raised $15.8 million from strategic investors ServiceNow and Cisco Investments, and existing investors including Battery Ventures and CRV. The funding will be used to continue building the best product, servicing customers and educating the community about the power of SLOs.
“The market for SLOs is emerging quickly, and we ended the year quite strong as companies look for efficiencies and ways to do more with less. Our confidence in our ability to execute despite the current market conditions and being able to close our new funding round underscores the confidence that ServiceNow and Cisco see in us,” said Marcin Kurc, co-founder and CEO, Nobl9. “The unique value we deliver is how we can help companies bridge between business objectives and technology goals. We are thrilled that both ServiceNow and Cisco Investments have chosen to invest in Nobl9.”
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The funding highlights the growing demand for a robust market for Service Level Objectives (SLOs) and commitment from ServiceNow and Cisco to work with Nobl9 to help develop it. This comes on the heels of a successful fourth quarter for Nobl9. The State of SLOs report conducted by Dimensional Research surveyed more than 300 enterprise IT professionals about their use of SLOs in 2022 and found SLO adoption has grown with more than 8 out of 10 companies increasing their use. In fact, SLOs are being used to provide visibility into the use of new technologies. For example, 87% stated using SLOs for microservices would increase their performance. The research shows business teams (executives, manufacturing, R&D, marketing, finance, etc.) are not only increasing their use of SLOs but using SLOs for more than pure IT operations.
“Observability is a highly strategic area for ServiceNow and our customers as they think about accelerating their digital business,” said Pablo Stern, SVP & GM of technology workflows at ServiceNow. “Our Lightstep observability business has been a close partner with Nobl9 for years and we are excited to continue partnering with them as a leader in SLOs. As we look to extend the value of observability and digital workflows throughout the enterprise, SLOs are a key enabler of the transition to cloud-native technology and practices.”
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“Requirements for enterprises to create a scalable relationship between operations and software services while maintaining consistent customer experience and keeping costs at a reasonable level have continued to increase,” said Noah Yago, vice president, Corporate Development and Investments, Cisco. “With growing expectations, enterprises are demanding innovative SLO solutions that will help them address these challenges and keep operations running smoothly. We are excited to invest in Nobl9’s latest round and watch as they transform the space.”
In addition to the new funding, Nobl9 recently announced the call for papers and dates for its annual conference, SLOconf, taking place May 15-18, 2023, and introduced the availability of Nobl9 Free Edition. Nobl9 Free Edition is a perpetual free tier of its award-w****** Service Level Objective (SLO) Platform. The hosted SaaS solution allows the creation of SLOs using metrics and observability data from 24+ popular tools, including Lightstep from ServiceNow, Cisco AppDynamics, Prometheus, Datadog, New Relic, Dynatrace, Google Cloud Monitoring, Amazon Cloud Watch, Amazon Managed Service for Prometheus, Splunk, and many more.
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