Grafana Labs, an open-source data visualization and analytics platform, has completed a USD 270 million primary and secondary transaction, extending its Series D financing at a valuation of over USD 6 billion. The round was led by existing investor Lightspeed Venture Partners, with participation from all existing institutional investors and new investor CapitalG.

The company plans to use the new capital to accelerate product development, strengthen its market leadership, and strategically pursue future M&A opportunities.

Currently, Grafana Labs serves 5,000+ paying customers and has surpassed USD 250 million in annual recurring revenue (ARR). Furthermore, it was named a Leader in the Gartner Magic Quadrant for Observability Platforms and ranked 23 on the Forbes 2024 Cloud 100 list.

Analyst QuickTake: This is Grafana’s third funding round of over USD 200 million raised, following its Series C round in August 2021 and Series D round in April 2022. Over the past year, the company has enhanced and expanded its offerings through new launches and M&As, validating the recent accolades. Notable developments include the introduction of Kubernetes support , the acquisition of Asserts.AI, and the launch of the AWS Observability app in Grafana Cloud.