Application performance monitoring startup Sentry announced today that it has reached unicorn status, raising a $60 million Series D with a post-funding valuation of $1 billion. The round was led by Accel and New Enterprise Associates, both returning investors, and Bond.
Accel led Sentry’s seed funding in 2015, and has invested in each of its rounds since then. The startup, which serves 68,000 organizations, has now raised a total of $127 million. Its clients include Disney, Cloudflare, Peloton, Slack, Eventbrite, Supercell and Rockstar Games.
Sentry’s software monitors apps for potential issues, helping developers catch bugs before they result in outages, downtime and frustrated users. Its Series D will be used on product development, like adding support for more languages and frameworks, and hiring for its offices in San Francisco, Toronto and Vienna.
While Sentry’s products are used by a wide range of sectors, it is seeing continued growth in gaming and streaming media, and new demand in industries that are digitizing more of their infrastructure and services, including finance, commerce and healthcare.
In July, Sentry announced the launch of frontend monitoring software for Python and Javascript. At the time, Sentry’s chief executive officer Milin Desai told TechCrunch that its customers in all verticals were relying more heavily on the platform as the COVID-19 pandemic increased the usage of work, education and e-commerce apps.
In a press statement, Accel partner Dan Levine said, “With nearly all companies moving to digital-first ways of working and engaging with customers, application health has become a business-critical initiative, and as a result, Sentry is poised for explosive growth.”
