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Cribl announced on August 27, 2024, that it had closed an oversubscribed $319 million Series E at a $3.5 billion valuation. The round combined primary and secondary financing; Axios reported that $119 million was a secondary offering. GV led the round, with GIC, CapitalG, IVP, and CRV participating. The $3.5 billion figure applies to that 2024 financing—it is not a verified current valuation.
What Cribl announced in its Series E
Cribl said the financing brought the total capital it had secured since its founding to more than $600 million. The company described the transaction as a combination of primary and secondary capital, but did not publish a detailed allocation between the two in its announcement. Cribl’s August 2024 announcement gives the round total and valuation.
Axios reported that $119 million of the transaction was a secondary offering. Primary financing goes to the company; secondary transactions provide liquidity to existing shareholders. The available reporting does not establish a precise primary allocation by reconciling that secondary figure against the announced total.
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GV (Google Ventures) led the round. GIC, CapitalG, IVP, and CRV also participated, according to Cribl. GV General Partner Michael McBride joined Cribl’s board. The announcement described McBride as a former GitLab chief revenue officer.
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What Cribl said about its business and performance
Cribl sells enterprise software for IT and security telemetry. The company describes its tools as helping organizations collect, process, route, store, access, and replay telemetry across different sources and destinations. Its listed products include Cribl Stream, Cribl Edge, Cribl Lake, and Cribl Search. These product descriptions reflect Cribl’s own positioning; its company overview provides its account of the platform.
With the 2024 financing, Cribl reported more than $100 million in annual recurring revenue (ARR). It also reported a 163% ARR compound annual growth rate over four years, net dollar retention above 130% over the preceding 12 months, and an increase of more than 300% in customers purchasing multiple products over the same 12-month period. These figures were reported by the company in 2024, not presented as independently audited results.
In a later update dated January 22, 2025, Cribl said ARR had exceeded $200 million and grown by more than 70% year over year. That is a company-reported operating milestone; it does not provide a new valuation. Cribl’s January 2025 release states the update.
What the $3.5 billion figure does—and does not—mean
The $3.5 billion valuation was the figure announced with the August 2024 Series E. It should not be read as a confirmed present-day valuation: the cited financing announcement and later ARR update do not establish a subsequent valuation. ARR, growth, retention, and valuation are different measures, and the reported ARR increase alone does not establish what Cribl is worth.
Cribl co-founder and CEO Clint Sharp said in the financing announcement, “We started Cribl to solve these real problems for real users. Today’s funding proves the value in that approach.” McBride’s comments in the same release about enterprise data growth and modernization represent the investor’s view, rather than an independently established forecast.
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