VC firms back $30m series-C for Instana

Accel and Target Partners also took part in the latest financing, which brings the company's total funding to $57m.

The investment will be used to meet increasing demand for Instana's automated monitoring solution and expand its product line.

Previous funding
Target Partners first backed Instana in a $6m series-A in June 2016. It also took part in the series-B, a $20m financing led by Accel in December 2017.

Company
Founded in 2015 and dual-headquartered in Solingen and San Francisco, Instana is a computer software company that applies automation and artificial intelligence to application performance management. Its software enables IT departments to deliver services more quickly and efficiently, according to the firm.

Instana's customers span multiple industries, such as financial services, healthcare, retail, communications and cloud-based service providers. Examples of clients are Edmunds.com, Sixt, iOffice, Audi, Trusted Shops and ClearScore.

People
Meritech Capital – Alex Kurland (general partner).
Accel – Harry Nelis (partner).
Target Partners – Berthold von Freyberg (partner).
Instana – Mirko Novakovic (founder, CEO).

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