news/GOOGL/2023.01.10/Chronosphere raises additional $115 mln at $1.6 bln valuation.txt

Jan 10 (Reuters) - Chronosphere has raised an additional
$115 million in funding from new investors Alphabet Inc's GV
and Geodesic Capital, the cloud-based data
organization platform said on Tuesday, valuing the company at
$1.6 billion.The latest round saw participation from existing investors
Addition, Founders Fund, General Atlantic and Greylock, among
others, and brings the company's total funding to $343 million.The fundraise comes at a challenging time for the venture
investing market in the United States, which over the past year
pulled back from late-stage companies as worries of a looming
recession and fast-rising interest rates dried up exits.The cloud native data manager, which counts online brokerage
Robinhood Markets and payments giant Visa Inc
among its enterprise customers, said it will use the capital to
support the go-to-market efforts of its platform.The extended round adds to Chronosphere's series C raise
from last year, where it had raised $200 million led by private
equity giant General Atlantic.
(Reporting by Anirban Chakroborti in Bengaluru; Editing by
Shailesh Kuber)