Company accelerates enterprise data leadership; Appoints industry veteran Mike Pyle as chief revenue officer
SAN FRANCISCO, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Cribl, the Data Engine for IT and Security, today announced it has surpassed $200 million in annual recurring revenue (ARR), growing ARR by more than 70 percent year-over-year (YoY). This follows the company’s achievement of $100 million in ARR in October 2023, when it became the fourth fastest infrastructure company to reach centaur status. Cribl’s growth trajectory is supported by its $319 million oversubscribed Series E round in August of 2024, which brought its valuation to $3.5 billion as more enterprises, including a quarter of Fortune 500 companies, leverage Cribl’s suite of products to simplify telemetry data management and modernize their IT and security strategies. As Cribl continues to advance its market leadership, the company has appointed industry veteran Mike Pyle as chief revenue officer (CRO) to continue its rapid growth trajectory.
“Since Cribl was founded in 2018, we have experienced unprecedented growth driven by our products that are purpose-built for IT and Security, and I’m proud to say Cribl has grown more in the past 14 months than it did in the previous four years as a company,” said Clint Sharp, co-founder and CEO of Cribl. “Just last year, we reached the incredible milestone of becoming one of the fastest companies ever to achieve centaur status. Reaching $200 million ARR one year later solidifies the transformative value that Cribl’s IT and security products are delivering to our customers. We’ll continue to bring innovation to market to simplify the lives of IT and security professionals with products that solve real, every day telemetry data challenges.”
Recent company highlights include:
- ARR growth: Cribl has continued to close its largest quarters in company history, with more than 70 percent ARR growth YoY;
- Customer growth: Cribl has increased its customer base by more than 50% YoY, which now includes 43 of the Fortune 100 and 130 of the Fortune 500;
- Multi-product customers: Customers purchasing multiple products across the Cribl portfolio has increased more than 200% over the past 12 months, and nearly 50 new customers are already using Cribl Lake, which was released in April 2024;
- Net dollar retention: Customers continue to grow and expand with Cribl as the company boasts a net dollar retention (NDR) of over 130%;
- Monthly active users: Cribl has increased its monthly active users by 123% over the past 12 months.
As Cribl continues to expand operations globally, the company has appointed Mike Pyle as CRO to drive global revenue growth. With over 25 years of experience, Pyle joins the company from his previous position as Vice President of Worldwide Enterprise Sales at GitLab, the AI-powered DevSecOps platform. Prior to that, he was CRO and Co-General Manager of Heroku, a Salesforce company and pioneer in cloud application development.
“Our customers–the IT and security professionals who keep the business running–continue to get massive value from our products, and reaching the $200 million ARR milestone so quickly is a direct result of the real, tangible impact we’re delivering,” said Mike Pyle, CRO of Cribl. “While continuing to be one of the fastest growing enterprise technology companies is exciting, our focus remains on solving our customers’ most complex data challenges. This customer-first approach drives our market growth and I look forward to continuing to partner with our customers to transform their data strategies amid today’s rapidly evolving data landscape.”
Cribl’s market impact has been recognized by several prestigious industry accolades, including the Forbes Cloud 100 for two consecutive years, Fortune Cyber 60 for two consecutive years, the 2024 Deloitte Fast500, the Redpoint InfraRed 100, Notable Capital’s Rising in Cyber, and the Wing Venture Capital Enterprise Tech 30.
About Cribl
Cribl, the Data Engine for IT and Security, empowers organizations to transform their data strategy. Customers use Cribl’s vendor-agnostic solutions to analyze, collect, process, and route all IT and security data from any source or to any destination, delivering the choice, control, and flexibility required to adapt to their ever-changing needs. Cribl’s product suite, which is used by Fortune 1000 companies globally, is purpose-built for IT and Security, including Cribl Stream, the industry’s leading observability pipeline, Cribl Edge, an intelligent vendor-neutral agent, Cribl Search, the industry’s first search-in-place solution, and Cribl Lake, a turnkey data lake. Founded in 2018, Cribl is a remote-first workforce with an office in San Francisco, CA.
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Media Contact
Amy McDowell
Offleash PR for Cribl
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