Xenon Partners has acquired Ireland-based Metricfire, a provider in time series data monitoring. No financial terms were disclosed.
SAN FRANCISCO AND DUBLIN (PRWEB) SEPTEMBER 23, 2019
Xenon Partners, a software-focused technology private equity firm, announced today that it has completed the acquisition of Metricfire, a leading provider in time series data monitoring. Metricfire boasts two products that help developers and IT administrators monitor large quantities of performance metrics.
According to BusinessWire, the global IT monitoring tools market is expected to grow at over a 34% CAGR through 2022.
Information monitoring tooling provides monitoring to various hardware and infrastructure components for cloud infrastructure and other IT installations. Metricfire provides a complete infrastructure and application monitoring platform from a suite of open source monitoring tools, including the software monitoring platform Graphite and the newly popular Prometheus platform.
“The Metricfire team has been working in the developer and IT administrator market for over 8 years now. We were impressed with the company’s organic growth to date and believe it is well-positioned moving forward. This is a great opportunity for us to bring in our expertise and partner with the existing team to enable Metricfire to continue on its growth path,” says Jonathan Siegel, Partner at Xenon Partners.
Multiple trends have contributed to the growth of the IT monitoring tool market in recent years, such as an increased reliance on cloud computing and storage. The acquisition of Metricfire represents Xenon Partners’ most recent strategic investment, adding to a portfolio of eight current companies.
Founded by Dave Concannon and Charlie von Metzradt in 2012, Metricfire offers cloud monitoring “at any scale.” Metricfire’s customers include companies such as Nielsen and Playtika. For more information, visit http://www.metricfire.com.
About Xenon Partners:
Xenon Partners acquires and operates early and mid-stage technology companies, with a particular emphasis on B2B SaaS solutions. Xenon provides its portfolio companies with deep operational expertise in growth marketing, sales, design, product engineering, and operations to scale to the next level. Past and present portfolio companies include Airbrake (acquired by Rackspace), RightSignature (acquired by Citrix), DreamFactory, Earth Class Mail, and Xplenty. For more information, visit http://www.xenon.io.