Grafana Labs hits $3B valuation

Data analytics startup Grafana Labs has raised $220 million at a $3 billion valuation. Sequoia and Coatue co-led the Series C round, with participation from Lightspeed, Lead Edge Capital and GIC. Grafana's open-source platform for data observability and visualization is used by customers including Bloomberg and PayPal. The company was valued at $325 million last year, according to PitchBook data.