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Plumbr raises venture capital, hires first senior executive
We have two important milestone announcements to share with you. We raised our first round of institutional venture capital funding from Karma Ventures, and have former CIO of Estonia Taavi Kotka joining Plumbr as VP of Sales. This post is sharing the news in format of a press release with our blog readers.
The Plumbr software makes digital user experiences transparent by monitoring each interaction that the users perform with its customers’ software. In addition, Plumbr exposes the root causes of the performance and availability issues that trigger poor user experience.
“Plumbr has so far invested in product development and initial go-to market steps,” said Priit Potter, CEO of Plumbr. “The feedback we get from the market gives us confidence to start scaling sales. Raising additional funding and bringing in extra commercialization power enables us to step up our expansion efforts.”
Kristjan Laanemaa, a partner at Karma Ventures, commented the investment decision: “We decided to back Plumbr after recognizing the potential of building a new-era application performance monitoring solution company. We think that the future is not only in monitoring the technical performance of digital services, but also in exposing the business impact of performance and availability issues. This gives businesses the chance to detect and eliminate problems that could otherwise have a significant impact on business results.”
“When I saw what Plumbr had built, I immediately understood it was the solution I had lacked in my CIO days,” explained Taavi Kotka, new VP of Sales at Plumbr. “I do see the strong product built by the founding team and I do feel I can help build sales channels to tap specific markets.”
About Karma Ventures
Karma Ventures is an early-stage venture capital firm, specialized in seed and A round investments for the most promising tech start-ups in Europe. Karma Ventures backs companies with strong ideas delivered with unique technology, customer traction and global ambition. Karma Ventures’ key investors are Ambient Sound Investments and the Baltic Innovation Fund, an initiative created in cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, and the European Investment Fund (EIF). For more information, visit http://www.karma.vc or contact Kristjan Laanemaa.
About Taavi Kotka
Former CIO of Estonian Government Taavi Kotka was elected CIO of the year in 2014. He also has valuable private sector experience. Taavi started his career as a programmer and graduated as Managing Director of the largest software development company in the region, Webmedia. With his engineering background, he has been the brainpower behind many Estonian e-government innovative initiatives, such as e-residency, data embassies, country in the cloud, no-legacy policy and VAT fraud detection.
Plumbr helps its customers offer better user experience in digital channels by providing solutions for software analytics and monitoring markets. As of today, Plumbr monitors more than a hundred million user interactions per month for their customers, including the multiple banking, telecom and logistics companies in the Nordics and Baltics. The company currently employs 20 people in their Estonian offices. For more information, visit https://plumbr.io or contact Priit Potter.