Today, we’re adding to the groundwork we’ve established to provide enterprise organizations with a modern approach to data unification to improve insights. Our True North unifies all the many layers of data into a single stream to provide better insights so you can make better decisions and adjustments and bring value to the organization.

Gone are the halcyon days of carte blanche tech spending. In 2024, it’s no longer about hiring fast. Everyone’s focus is increasing efficiency and productivity. We know companies are under pressure to justify their tech spending while seeking to get more value out of the tools they have. As pointed out by Tom Kravitz in Runtime, “A drumbeat has been building behind observability technology for several years now, but several factors are converging in early 2024 to suggest it is about to become a huge market. Spending on cloud infrastructure and platform services surged 320% from the first quarter of 2018 to the same period last year, according to Synergy Research, and the hangover from that party is starting to set in.”

We’re here to help organizations manage this hangover with better observability tools. Our financial partners believe in us. This new round of $6M announced today, led by Riverside Acceleration Capital (RAC) and including our existing investors Industrifonden, SEB Foundation, Oxx, and Leo Capital, will help us continue on our path to provide companies with end-to-end active observability on their terms without surprising, ballooning costs.

Our current and future customers will benefit as we provide modern observability on-prem or in the cloud and gather data across the different pillars of the observability tower to give you a complete picture.

In addition to our funding, our acquisition of Circonus, announced today, will lend a solid telemetry data component to the Apica Ascent platform. An observability data pioneer, Circonus specializes in monitoring and analytics solutions specifically designed for organizations with large amounts of telemetry data. We will integrate Circonus’ IRONdb and Passport products into the Ascent Platform.

Apica acquisition of Circonus
This latest acquisition and funding adds to the acquisition and financing we announced last August when we acquired observability data fabric startup LOGIQ.AI and raised $10M. The data economy will continue to explode, and we plan to be the life raft for our customers by delivering on our vision to provide affordable and flexible observability innovations and developing new capabilities for enterprise customers.