Sentry Revenue, Valuation, Funding & Investors
Sentry is valued at $3B as of May 2022.
Last Sentry valuation
$3B
Series E · May 2022
Last Sentry funding round
$90M
Series E · May 2022
Sentry revenue
$128M
Series D · Feb 2021
Key investors in Sentry
Accel
New Enterprise Associates
Bond
K5 Global
Slack
Ilya Sukhar
About Sentry
Sentry is a San Francisco-headquartered open-source platform for error monitoring and performance tracking in software development. Launched in 2012, it captures crashes, exceptions, and latency issues across frontend, backend, and mobile stacks for languages like JavaScript, Python, and Java. Developers at Airbnb, Dropbox, and Spotify use it to triage alerts via source maps and session replays. Sentry processes trillions of events yearly, offering release health insights tied to deployments.
Founded
2012
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$128M (Feb 2021)
Valuation
$3B (May 2022)
Sentry Valuation
Sentry is currently valued at $3B, based on its Series E in May 2022.
The $90M round was led by Accel and Bond, with participation from K5 Global and New Enterprise Associates.
Sentry's valuation has grown 75x from $40M at its Series A in June 2016 to $3B in May 2022, across 4 priced rounds.
Sentry valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2022 | Series E | $3B | - |
| Feb 2021 | Series D | $1B | 7.8x |
| May 2018 | Series B | $100M | - |
| Jun 2016 | Series A | $40M | - |
Sentry Revenue
Sentry's latest recorded revenue is $128M, as of its Series D in February 2021. At a $1B valuation, that implies a 7.8x revenue multiple.
Sentry revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2021 | $128M | $1B | 7.8x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Sentry Funding History
Sentry has raised a total of $217M across 6 funding rounds.
Sentry's first fundraising round was a $2M seed round in August 2015. The most recent completed round was a $90M Series E in May 2022.
Sentry funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2022 | Series E | Accel (lead); Bond (lead); K5 Global; New Enterprise Associates | $90M | $3B | Sentry, officially Functional Software Inc., is a San Francisco-based developer-first application monitoring platform that helps developers identify, prioritize, and fix errors, crashes, and performance issues across over 100 programming languages. The open-source-inspired tool aggregates data from the full stack, providing code-level observability used by over 3.5 million developers across 85,000 organizations, including Peloton, Eventbrite, Slack, Disney, Cloudflare, and Supercell. Founded in 2012 by Chris Jennings and David Cramer, Sentry processes over 790 billion events per month as of May 2022, with mobile events growing more than 100% year over year. In May 2022, Sentry raised $90 million in a Series E funding round co-led by Accel and BOND (Bond), with participation from existing investor New Enterprise Associates (NEA) and new investor K5 Global, bringing total funding to $217 million. The round valued the company at more than $3 billion post-money, tripling its previous $1 billion valuation from the February 2021 Series D. This up-round occurred amid a challenging market due to Sentry's strong growth, including revenue more than tripling in just over two years and net expansion of annual recurring revenue (ARR) increasing by over 130% year over year. Sentry plans to use the proceeds for product development, hiring (having grown headcount 75% in the prior year), customer acquisition, and global expansion, including a new hub in Europe to support its go-to-market teams. The company reported 240% growth in customers using its Performance Monitoring feature. CEO Milin Desai emphasized the platform's focus on solving developer problems across diverse software environments, positioning Sentry as essential in a software-driven world. |
| Feb 2021 | Series D | Accel (lead); Bond (lead); New Enterprise Associates (lead) | $60M | $1B | Sentry is an application performance monitoring (APM) platform that helps developers detect errors, monitor performance, and ensure application health across frontend and backend code in multiple languages and platforms. Founded in 2012 and based in San Francisco with offices in Toronto and Vienna, Sentry serves over 68,000 organizations, including paying customers like Disney, Cloudflare, Peloton, Slack, Eventbrite, Atlassian, and Rockstar Games, as well as users of its free open-source product. On February 18, 2021, Sentry raised $60 million in a Series D funding round led by Accel—its first investor since the 2015 seed—with participation from existing investor New Enterprise Associates (NEA) and new investor BOND. This brought total funding to $127 million and achieved a post-money valuation of $1 billion, marking unicorn status. The investors matched the query exactly: Accel, Bond, and NEA as leads/participants. Proceeds will fund product innovation in core application monitoring, expansion of performance monitoring across platforms, go-to-market initiatives, and hiring. Sentry differentiates from traditional observability and APM vendors by connecting errors, performance, and code health to help retain customers and drive revenue. CEO Milin Desai highlighted its role in balancing development speed and quality amid multi-platform user interactions. The round followed a $40 million Series C in 2019 led by Accel and NEA. A subsequent $90 million Series E in 2022, co-led by BOND and Accel with NEA and K5 Global, tripled valuation to over $3 billion, bringing total funding to $217 million for further product development, hiring, and European expansion. |
| Sep 2019 | Series C | Accel (lead); Slack; New Enterprise Associates | $40M | - | Sentry is an application performance monitoring (APM) platform providing error tracking and monitoring software for app developers. The company offers both open-source and cloud-hosted SaaS solutions, distinguishing itself from legacy APM systems by focusing on software running on devices not controlled by developers, including mobile, IoT, and smart sensor networks. By September 2019, Sentry's services were used by more than 50,000 organizations worldwide, including major companies such as Airbnb, Dropbox, Microsoft, PayPal, Peloton, Pinterest, Square, and Uber. On September 24, 2019, Sentry announced a $40 million Series C funding round led by returning investor Accel, with participation from existing investor New Enterprise Associates (NEA). This brought total funding raised to approximately $66.5 million. According to CEO David Cramer, the funding reflected significant growth from serving 2,000 organizations at the end of 2015 to 50,000 by 2019. The Series C proceeds were designated to accelerate product development and marketing efforts, expand the team, and support widespread customer demand for modern application monitoring solutions. |
| May 2018 | Series B | Accel (lead); New Enterprise Associates (lead) | $17M | $100M | Sentry raised $16 million in its Series B funding round on May 23, 2018, led by Accel and New Enterprise Associates (NEA). The post-money valuation reached around $100 million. This funding supported Sentry's exponential growth, with more than 9,000 paying customers, tens of thousands of engineering organizations, and a half-million developers using the platform to resolve application errors quickly. Sentry provides application performance monitoring (APM) specifically for developers, enabling them to fix code issues directly and reduce resolution time from five hours to five minutes. The company launched Sentry 9 around this time, featuring automatic notifications to responsible developers, environment filtering, and team collaboration tools. Co-founded in 2008 by David Cramer and Chris Jennings, Sentry focuses on modern application development and is used by 40% of the Fortune 100. The round built on prior investments, including a seed round in 2015 led by Accel, to enhance product features and increase market penetration. |
| Jun 2016 | Series A | New Enterprise Associates (lead); Ilya Sukhar; Accel | $9M | $40M | Sentry raised $9 million in its Series A funding round in June 2016, led by New Enterprise Associates with participation from Accel. The round followed a $1.5 million seed round in 2015 led by Accel. Sentry develops application monitoring tools to help developers detect errors and improve source code across multiple programming languages. Subsequent rounds included a $16.5 million Series B in May 2018 co-led by Accel and NEA, $40 million Series C in 2019 led by Accel, $60 million Series D in February 2021 at $1 billion valuation led by Accel with NEA and Bond, and later rounds reaching $3 billion valuation in 2022. |
| Aug 2015 | Seed | Accel (lead); Evan Cooke | $2M | - | - |
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Who has invested in Sentry?
7 investors have backed Sentry across its funding rounds, including Accel, New Enterprise Associates, Bond, K5 Global, Slack and Ilya Sukhar.
Lead investors include Accel, Bond and New Enterprise Associates.
Sentry Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Palo Alto, CA | 6 | Lead | Aug 2015 | |
| San Francisco, CA | 5 | Lead | Jun 2016 | |
| San Francisco, CA | 2 | Lead | Feb 2021 | |
| San Francisco, CA | 1 | Participant | May 2022 | |
| San Francisco, CA | 1 | Participant | Sep 2019 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Sentry
Sentry has acquired 3 companies to date.
Last acquisition by Sentry was on May 6th 2025. Sentry acquired Emerge Tools for undisclosed valuation.
Latest Acquisitions by Sentry
| Description | Emerge Tools is a developer platform enhancing mobile app build processes, size optimization, and performance monitoring for iOS and Android teams. Adopted by DoorDash for delivery apps, Square for payments, Airbnb for travel, Duolingo for language learning, Dropbox for storage, Bumble for social networking, and Stripe for fintech within three years. Its dashboard analyzes binaries, dependencies, and crashes to accelerate releases. | Codecov is a Vienna-headquartered code coverage analytics platform integrating with GitHub, Bitbucket, and GitLab. It delivers syntax-highlighted reports, graphs, comments, and badges for multi-language projects, supporting teams in maintaining test coverage during CI/CD pipelines. | Specto is a San Francisco-based mobile performance monitoring tool capturing CPU, memory, and network metrics with minimal SDK integration. Founded in 2019, Specto profiles iOS and Android apps in real-time, alerting developers to ANRs and crashes via dashboards. The platform serves startups scaling consumer apps, exporting traces to Sentry for debugging. |
| HQ Country | | | |
| HQ City | Los Angeles, CA | - | San Francisco, CA |
| Deal Date | 6 May 2025 | 30 Nov 2022 | 24 Nov 2021 |
| Valuation | undisclosed | undisclosed | $114M |
| EV/Revenue | |||
| EV/EBITDA | |||
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Sentry Competitors
Sentry competitors include listed companies like GitLab and JFrog, and private ones like LaunchDarkly, CircleCI, CloudBees and Port.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $3B | - | |
| San Francisco, CA | Private | - | - | $1.7B | - | |
| San Jose, CA | Private | $150M | - | $1.1B | 7.7x | |
| United States | Publicly listed | $955M | ($82M) | $8.4B | 6.7x | |
 Tel Aviv | Private | - | - | $800M | - | |
| United States | Publicly listed | $532M | ($67M) | $12B | 17.4x |
Sentry Public Comps
Sentry is still privately-owned, but its public comps include Dameng Database, Justsystems, C3.ai, Progress Software, PagerDuty, Qt Group, Horizon Quantum, Hanwang Technology Co, Insyde Software and GitLab.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $331M | $156M | 3.1x | 3.2x | 6.7x | - | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $978M | $302M | 3.0x | 2.9x | 9.6x | 7.3x | |||
| $493M | $17M | 2.2x | 2.2x | 64.6x | 7.7x | |||
| $249M | $62M | 4.3x | 3.9x | 17.3x | 16.0x | |||
| $269K | ($5M) | 2287.8x | - | (125.2x) | (33.0x) | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
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Common questions about Sentry
| When was Sentry founded? | Sentry was founded in 2012. |
| Where is Sentry headquartered? | Sentry is headquartered in San Francisco, CA, United States. |
| Is Sentry publicly listed? | No, Sentry is a private, VC-backed company. |
| What is Sentry's valuation? | Sentry was last valued at $3B in its Series E in May 2022. |
| How much funding has Sentry raised? | Sentry has raised $217M across 6 funding rounds. |
| What was Sentry's last funding round? | Sentry's last funding round was a $90M Series E in May 2022, led by Accel and Bond. |
| Who are Sentry's investors? | Sentry's investors include Accel, New Enterprise Associates, Bond, K5 Global, Slack, Evan Cooke and Ilya Sukhar. |
| What is Sentry's revenue? | Sentry's latest recorded revenue is $128M (February 2021). |
| What is Sentry's revenue multiple? | Sentry's latest valuation implies a 7.8x revenue multiple ($1B valuation on $128M of revenue). |
| Which companies are comparable to Sentry? | Companies comparable to Sentry include LaunchDarkly, CircleCI, CloudBees, GitLab, Port and JFrog. |
| How many companies has Sentry acquired? | Sentry has acquired 3 companies, including Emerge Tools, Codecov and Specto. |
| What was the largest acquisition by Sentry? | The $114M acquisition of Specto in November 2021 is the largest acquisition Sentry has made to date. |
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