April 15, 2020
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Airbrake, a leading application performance and code-level error monitoring software company, in raising an $11 million financing round led by Elsewhere Partners.
Airbrake offers real-time error monitoring for the end-to-end application stack, improving the efficiency of continuous integration and continuous development (CI/CD). Airbrake takes CI/CD to the next level by revealing real-time application errors, combining code-scanning and error-logging before it reaches the end-user. This increases the velocity that companies can release high quality applications, reduces development costs, and improves customer retention.
“Airbrake grew rapidly and profitably under the product-focused leadership of Joe Godfrey,” said Nick Stoffregen, Vice President at Elsewhere Partners. “The company created a product that developers love, and Airbrake has grown organically as a result, without dedicated sales and marketing teams.”
“We’re excited to continue nurturing the strong relationships Airbrake has built with customers in the developer community, and extremely grateful to the Cascadia Capital team for their leadership and support in arranging this partnership and capital infusion,” said Treb Ryan, CEO of Airbrake.
“Airbrake used a product-led, self-serve go-to-market model to establish its position as a leading error monitoring provider,” added Matt Riendeau, Cascadia Senior Vice President. “Elsewhere Partners will support Airbrake’s next phase of growth by complementing product-led efforts with sales-led efforts to accelerate customer acquisition, conversion and expansion. I am eager to see what the future holds for Airbrake.”
The acquisition represents another successful transaction for a Cascadia client in the DevOps sector. Past transactions include the acquisition of Movere by Microsoft, the sale of Travis CI to Idera, the acquisitions of Scout Server Monitoring and PaperTrail by SolarWinds.
For more information about this transaction, please contact the Cascadia Capital deal team:
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