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Monday, August 15, 2022

Swedish VC firm Creandum led the $18.6M funding round of a Czech startup

Pan-European early-stage venture capital firm Creandum led the Series A round of Better Stack with Carl Fritjofsson joining the board. Creandum’s portfolio of 120+ companies includes some of Europe’s most successful tech companies across a wide range of industries including Spotify, Klarna, Depop, Kry, Trade Republic, Pleo, and Vivino.

The Czech startup develops DevOps tools to provide managing and monitoring software. It combines monitoring, logging, incident management, status pages, and more into a single platform. The round’s participants include Susa Ventures, K5 Global, Credo Ventures, Lachy Groom, Ryan Petersen, Michael Stoppelman, Emil Eifrem, Zach Sims, Madhu Muthukumar, Tim Soulo, Oskari Saarenmaa & Hannu Valtonen, Lucek Samulowski and so on. This capital injection will support Better Stack’s growth and its mission to help developers by building tools for the makers of tomorrow.

Better Stack raises $18.6M for a ClickHouse-based Datadog challenger

Better Stack raises a Series A round from leading European early-stage investor Creandum, a backer of Europe’s best tech companies including Spotify, Klarna, and SEON. Joining the round are Susa Ventures, K5 Global, Credo Ventures, Lachy Groom, Ryan Petersen (founder of Flexport), Michael Stoppelman, Emil Eifrem (founder of Neo4j), Zach Sims (founder of Codecademy), Madhu Muthukumar (CPO at Notion), Tim Soulo (CMO at Ahrefs), Oskari Saarenmaa & Hannu Valtonen (founders of Aiven), Lucek Samulowski (founder of Docplanner) among others.

Better Stack’s mission is to help developers in building a better internet by making powerful observability tools that are beautifully designed and a joy to use. Making it easier to ship better and more reliable software faster.

Today, developers are using dozens of tools that need integrating, cost a lot, feel like they were designed in the 2000s, and take ages for users to fully comprehend. Better Stack combines monitoring, logging, incident management, status pages, and more into a single platform. It’s roughly 10x cheaper yet 10-100x faster than the alternatives and customers are able to keep data in hot storage for longer, thanks to the ClickHouse database. It’s intuitive to use for engineering teams as it leverages SQL for data querying. Lastly, Better Stack’s focus on Figma-like collaboration allows developers to work together in real-time.

Major outages of companies like Atlassian and Cloudflare in early 2022 show that software reliability is still an unsolved problem. Better Stack arrives to help developers with this challenge. Since its launch in 2021, Better Stack is now used by over 70,000 developers and 1,400+ customers. Teams from enterprises including ESET, Decathlon, Time.com, and Accenture; startups like Brave and Drata and indie hackers such as Plausible or Buy me a coffee already rely on Better Stack. The Series A investment will support Better Stack’s continued growth and allow it to scale the product at a faster pace to help more developers around the world.

Creandum, Better Stack, Juraj Masar

Juraj Masar, Better Stack CEO and co-founder commented: “We lived the daily struggles engineers go through at our previous jobs and with Better Stack we decided to solve at least some of them. We are simply engineers making the tools we always wanted to use.”

Creandum, Bitskout, Veronika KolejakVeronika Kolejak, Better Stack COO and co-founder said: “Take 10 engineers off the street and ask them: are you fluent in Datadog Query Language, New Relic Query Language, AWS CloudWatch Query Language, PromQL, LogQL… and 9 out of 10 will say no. But every engineer knows SQL, which is why with Better Stack, we’re making it the querying standard for software observability. And this is just one of the decisions we made that makes us ‘just work’ for so many engineers.”

Creandum, Bitskout, Tomáš HromadaTomáš Hromada, Better Stack CTO added: “For us, developer tools don’t mean they can’t be beautifully designed or a joy to use. We think that all users, whether they are indie hackers or CTOs of large corporations, deserve a great experience. Developers do care about working with tools that focus on design and UX as much as they focus on functionality.”

Creandum, Bitskout, Carl FritjofssonCarl Fritjofsson, General Partner at Creandum added: “At Creandum, we deeply care about product experiences, and Better Stack not only redefined what beautiful and intuitive observability products look like, but ultimately Better Stack customers will be empowered to build better products themselves. With 10x lower cost and 10x better performance we are convinced that Better Stack will become an important part of software infrastructure.”

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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