LogRocket Announces $15 Million in Funding to Improve Web Experiences and Fix Bugs
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Mar 21, 2019--LogRocket, makers of the first front-end application performance management platform, today announced that it has raised $11 million in Series A funding in addition to its previously unannounced $4 million seed round. The Series A was led by global investment firm Battery Ventures, with participation from seed investor Matrix Partners. Battery General Partner Neeraj Agrawal has joined Matrix General Partner Stan Reiss on LogRocket’s board of directors.
Funds will be used to nearly triple headcount as LogRocket scales to meet demand for its first-of-its-kind solution, which offers companies unparalleled insight into user experience problems in their web applications. Currently, more than 500 companies have adopted LogRocket’s technology, including Reddit, Ikea, Brex, Kaplan, CarGurus, FDNY, and Waste Management.
LogRocket was founded by former Google engineers and childhood best friends Matthew Arbesfeld and Ben Edelstein, who have been building technology products together for years. Frustrated by how difficult it was to understand customers’ experiences at their previous companies, Arbesfeld and Edelstein built LogRocket to help make every experience on the web as perfect as possible. To that end, they designed a product that captures real-time recordings of user actions along with technical telemetry so that when a problem arises, developers can quickly understand what went wrong.
“The way web applications are built is changing-- with more logic moving away from the server and into the front-end. Traditional application performance management solutions no longer give developers all the information they need to solve technical problems,” said Edelstein, LogRocket co-founder. “As a result, it can take companies anywhere from hours to weeks to resolve bugs and support tickets, which is often a painful process that involves going back-and-forth with customers to get clarifications. LogRocket shows developers exactly what went wrong from the user’s perspective and gives them all the technical information they need to fix problems in minutes and create better user experiences.”
“LogRocket has significantly decreased the amount of time we waste solving support tickets and complaints from our users,” said Tom Cheng, director of engineering at Kaplan. “LogRocket allows us to see exactly what the user is seeing, and also gives us insight into the scope and impact of issues so we can make intelligent prioritization decisions.”
Within the past 18 months since the product has been available, LogRocket has secured over 500 customers. Notably, the company has had particularly strong traction in SaaS, finance, healthcare, and government applications. This is due to its strong focus on data privacy along with its easy self-hosted option, which enables customers to forego the traditional SaaS offering and instead run LogRocket on their own servers.
“Based on our own experiences, and those of pretty much everyone we knew, it was easy to identify this as a major pain point for companies big and small. We were determined to find a way to address it despite the complexities involved,” said Arbesfeld, LogRocket co-founder, CEO, and Thiel Fellow. “The response to LogRocket has been incredible, and traction has been completely organic. With this round of funding, we can accelerate product development plans and dramatically extend our reach.”
“A sizable shift in software development is occurring, with application logic shifting from the server to more and more logic residing in the client. This trend has brought next-generation front-end frameworks, and it necessitates the need for new tools to give teams insights into user behavior to address bugs and errors more effectively and collaborate on issues,” said Agrawal, Battery general partner who led the funding round. “LogRocket has charted new territory here and has developed a novel, incredibly valuable solution.”
LogRocket was founded in 2016 by Matthew Arbesfeld and Ben Edelstein, who were frustrated by how difficult it was to understand technical bugs and user experience problems. They created LogRocket to make every experience on the web as perfect as possible. LogRocket records everything users do on your site so you can reproduce bugs and fix issues faster. The company is backed by Battery Ventures and Matrix Partners. For more information, visit https://logrocket.com.
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