- Companies
- Honeycomb
Honeycomb Valuation, Funding & Investors
Honeycomb is valued at $480M as of October 2021.
Last Honeycomb valuation
$480M
Series C · Oct 2021
Last Honeycomb funding round
$50M
Series D · Apr 2023
Cumulative funding Honeycomb raised
$147M
across 7 funding rounds
Key investors in Honeycomb
Headline
Storm Ventures
Scale Venture Partners
Industry Ventures
NextWorld Capital
Accel
About Honeycomb
Honeycomb is a San Francisco-based provider of full-stack observability platforms for software engineering teams. The service ingests high-cardinality event data to enable querying and visualization of production system behaviors. Engineering teams at companies like Shopify and PagerDuty use it for incident debugging, performance optimization, and release confidence. Founded in 2016, Honeycomb supports dynamic querying across petabyte-scale datasets with sub-second response times. Its Query Builder tool and OpenTelemetry integration streamline instrumentation for microservices and serverless architectures.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Valuation
$480M (Oct 2021)
Honeycomb Valuation
Honeycomb is currently valued at $480M, based on its Series C in October 2021.
The $50M round was led by Insight Partners, with participation from Industry Ventures, Scale Venture Partners, NextWorld Capital, Storm Ventures and Headline.
Honeycomb valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2021 | Series C | $480M |
Honeycomb Funding History
Honeycomb has raised a total of $147M across 7 funding rounds.
Honeycomb's first fundraising round was a $2M seed round in January 2016. The most recent completed round was a $50M Series D in April 2023.
Honeycomb funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2023 | Series D | Headline (lead); Industry Ventures; Scale Venture Partners; Dominik Richter; Guillermo Rauch; Storm Ventures; Insight Partners | $50M | - | Honeycomb, an observability platform for developers, announced a $50 million Series D funding round in April 2023, led by Headline with participation from existing investors Insight Partners and Scale Venture Partners, along with angel investors including HelloFresh CEO Dominik Richter and Vercel CEO Guillermo Rauch. The round brought total capital raised to nearly $150 million. The company demonstrated strong unit economics, with 160% net revenue retention across more than 600 customers globally and doubled revenue in 2022, though specific revenue figures were not disclosed. Recent customer wins announced with the funding included Robinhood, Frasers Group, and Equinix, alongside existing customers like Vanguard, Slack, and Vercel. The company planned to use the capital for geographic expansion, product development, and support for OpenTelemetry initiatives. No post-money valuation, EBITDA, or explicit revenue/valuation multiples were stated in the public announcements. |
| Oct 2021 | Series C | Insight Partners (lead); Industry Ventures; Scale Venture Partners; NextWorld Capital; Storm Ventures; Headline | $50M | $480M | Honeycomb is an observability platform for high-performance engineering teams to visualize, analyze, and improve cloud application quality and performance. Founded in 2016 by Charity Majors and Christine Yen, the company provides tools for debugging live software applications, particularly those using microservice architectures, with capabilities including metrics and tracing visualizations plus AI-assisted debugging. In October 2021, Honeycomb announced the close of a $50 million Series C round led by New York-based Insight Partners with participation from existing investors Scale Venture Partners, Headline, Storm Ventures, Industry Ventures, and NextWorld Capital. This funding brought total capital raised to $96.9 million. The round funded expanded international operations, OpenTelemetry distribution investments, and outreach programs including education and community support. By April 2023, Honeycomb had raised an additional $50 million in Series D funding, bringing total funding to approximately $150 million. |
| Feb 2021 | Series B | Headline (lead); Industry Ventures; Scale Venture Partners; NextWorld Capital; Storm Ventures; Merian Ventures | $20M | - | Honeycomb, a San Francisco-based observability platform for modern development teams, provides tools to understand, debug, and improve production systems, enabling fast incident response, system optimization, and reliable software releases for customers like Hello Fresh, Intercom, and Slack. On February 2, 2021, the company closed a $20 million Series B funding round led by e.ventures Growth, with participation from new investor Industry Ventures and existing investors Scale Venture Partners, Storm Ventures, NextWorld Capital, and Merian Ventures, bringing total capital raised to $46.9 million. The funds were intended to accelerate R&D, enhance product functionality, scale the observability platform, and support hiring to meet growing demand amid strong business growth and product innovation. Prior to the round, Honeycomb had demonstrated significant traction, tripling its large enterprise customers and expanding its overall customer base by 150% to 300 customers since its prior $11.4 million raise in September 2019. The company also more than doubled its annual recurring revenue—though the exact figure was not disclosed—and nearly doubled its employee headcount to about 70. This performance occurred against the backdrop of accelerated digital transformation due to COVID-19, increasing the need for observability in distributed systems. Honeycomb positions itself as a leader in high-cardinality observability, distinguishing from legacy tools by offering lightning-fast performance for complex production environments. The Series B built on earlier funding, including seed and Series A rounds, positioning the company to further define the observability category. Subsequent rounds included a $50 million Series C in 2021 and another $50 million in 2023 led by Headline, reaching nearly $150 million total raised, with later metrics showing over 600 customers and net revenue retention above 160%. |
| Sep 2019 | Series A | Scale Venture Partners (lead); NextWorld Capital; Storm Ventures; Merian Ventures; Headline | $11M | - | Honeycomb, the leader in observability solutions for modern developer teams to rapidly understand and better debug production systems, closed $11.4 million in funding on September 26, 2019, led by Scale Venture Partners, with participation from Storm Ventures, eVentures, NextWorld Capital, and Merian Ventures. This investment brought Honeycomb's total funding to $26.9 million. Ariel Tseitlin from Scale Venture Partners joined Honeycomb's Board of Directors. Honeycomb planned to use the investment to grow teams across sales, marketing, and customer success to support customers and drive revenue growth. The company had doubled ARR in the last six months prior to the round, doubled the number of six-figure contracts, and was on track to triple ARR by the end of 2019. Honeycomb achieved significant growth in new customers quickly onboarding within days of trialing the product due to slashed time to value for self-serve customers. |
| Feb 2018 | Series A | Headline (lead) | $12M | - | - |
| Apr 2017 | Seed | Storm Ventures (lead); DCVC; Accel | $2M | - | - |
| Jan 2016 | Seed | Afore Capital; Mike Krieger; DCVC; Venkat Venkataraman; Ilya Sukhar; Accel | $2M | - | - |
Who has invested in Honeycomb?
15 investors have backed Honeycomb across its funding rounds, including Headline, Storm Ventures, Scale Venture Partners, Industry Ventures, NextWorld Capital and Accel.
Lead investors include Headline, Insight Partners, Scale Venture Partners and Storm Ventures.
Honeycomb Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Apr 2017 | ||
| 5 | Lead | Feb 2018 | ||
| 4 | Lead | Sep 2019 | ||
| 3 | Participant | Feb 2021 | ||
| 3 | Participant | Sep 2019 | ||
| 2 | Participant | Jan 2016 | ||
| 2 | Lead | Oct 2021 | ||
| 2 | Participant | Sep 2019 | ||
| 2 | Participant | Jan 2016 | ||
| 1 | Participant | Apr 2023 | ||
| 1 | Participant | Apr 2023 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2016 | ||
This data is available for Pro users. Sign up to see all 15 Honeycomb investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Honeycomb
Honeycomb has acquired 1 company to date.
Last acquisition by Honeycomb was on April 10th 2025. Honeycomb acquired Grit for undisclosed valuation.
Latest Acquisitions by Honeycomb
| Description | Grit is a San Francisco-headquartered developer of AI-driven software migration and refactoring tools for legacy codebases. The platform automates migrations between languages like Java to Kotlin and frameworks such as monoliths to microservices, generating pull requests via machine learning and static analysis. Grit targets technical debt in enterprise applications, supporting migrations for AWS, Azure, and Kubernetes deployments. Clients include Fortune 500 engineering teams reducing maintenance costs through automated updates. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 10 Apr 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Honeycomb acquisitions and their M&A valuation multiples. Start Free Trial | |
Honeycomb Competitors
Honeycomb competitors include listed companies like Suresofttech, Intercede Group and Datadog, and private ones like Cortex, /dev/agents and Atera.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $68M | $10M | $163M | - | ||
| Publicly listed | $23M | $5M | $101M | 3.0x | ||
| Publicly listed | $3.4B | ($588K) | $85B | 19.4x | ||
| Private | - | - | $470M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - |
Honeycomb Public Comps
Honeycomb is still privately-owned, but its public comps include Wiscom System, Bonree Data Technology, Hanwang Technology Co, Insyde Software, Beijing Baolande Software, Shandong Cvicse, Datagroup, Horizon Quantum, ActiveOps and Suresofttech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $233M | $13M | 1.8x | - | 32.1x | - | |||
| $19M | ($13M) | 19.0x | 16.4x | (28.1x) | (45.3x) | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
| $53M | $14M | 5.3x | 5.2x | 19.6x | 19.5x | |||
| $34M | ($9M) | 6.8x | - | (25.4x) | - | |||
| $22M | ($2M) | 8.0x | - | (112.8x) | - | |||
| $652M | $96M | 1.4x | 1.4x | 9.6x | 9.4x | |||
| $269K | ($5M) | 2287.8x | - | (125.2x) | (33.0x) | |||
This data is available for Pro users. Sign up to see all Honeycomb competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Honeycomb
| When was Honeycomb founded? | Honeycomb was founded in 2016. |
| Where is Honeycomb headquartered? | Honeycomb is headquartered in San Francisco, CA, United States. |
| Is Honeycomb publicly listed? | No, Honeycomb is a private, VC-backed company. |
| What is Honeycomb's valuation? | Honeycomb was last valued at $480M in its Series C in October 2021. |
| How much funding has Honeycomb raised? | Honeycomb has raised $147M across 7 funding rounds. |
| What was Honeycomb's last funding round? | Honeycomb's last funding round was a $50M Series D in April 2023, led by Headline. |
| Who are Honeycomb's investors? | Honeycomb's investors include Storm Ventures, Headline, Scale Venture Partners, Industry Ventures, NextWorld Capital, DCVC, Insight Partners, Merian Ventures, Accel, Dominik Richter and 5 others. |
| Which companies are comparable to Honeycomb? | Companies comparable to Honeycomb include Suresofttech, Intercede Group, Datadog, Cortex, /dev/agents and Atera. |
| How many companies has Honeycomb acquired? | Honeycomb has acquired 1 company, including Grit. |
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