As the cloud increases its footprint in the enterprise, and ‘cloud native’ (aka serverless) development scales up, Madrona is continuing to uncover opportunities that make it easier to innovate and work in this new environment. Today we are proud to announce our seed investment in IOpipe. We co- led this round and teamed up with our colleagues at NEA and Underscore VC to fund the growth of this innovative company. IOpipe has moved its headquarters to Seattle to be near the center of gravity of the public cloud and the company will add team members in the area to support the company’s growth.
We first met Adam Johnson, the founder and CEO of IOpipe, at AWS re:Invent last fall– at TWO different events. After a quick follow-up pitch at the airport, we were hooked. IOpipe is providing important insight into how serverless applications run – and uses that info to diagnose what isn’t going right. AWS Lambda is a strategically important cloud service focused on this market and it has grown substantially into a major piece of how these applications area created. Developers embed IOpipe into their application and can see how functions are performing in realtime via the IOpipe dashboard.
For both developers and operations engineers, this is crucial information that will enable more organizations to develop cloud native serverless applications. IOpipe has already helped analyze and monitor over a billion events from users to date.
IOpipe is also an example of how accelerators are helping drive technology innovation and business. The company was a graduate of NYC Techstars – the founders moved to NYC for the program – which helped them flesh out their ideas, build a product and secure customers. We are supporter of Techstars through the Seattle chapter and love the chance to work with companies early on as they build and find their product market fit.