Skype co-founder Jaan Tallinn joined the backers of Plumbr
Estonian startup Plumbr, who has developed the solution for avoiding software performance errors, has raised USD 700,000 in follow-on funding. The round added angel investor Jaan Tallinn, the co-founder of Skype and Kazaa, to the group of investors backing Plumbr.
Plumbr’s existing investors – including Matt Arnold (Texas based tech startup angel investor) and Sten Tamkivi (former head of Skype Estonia and EIR at Andreessen Horowitz) – also participated in the fundraising. Since launching in 2011, Plumbr has attracted a total of $1.8 million of investment.
Jaan Tallinn, who is considered one of the world’s foremost experts on P2P technologies, said: “I’m thrilled to be backing Plumbr and I see tremendous opportunity for them because they have invented something unique that every business critical software system needs – an automated way to know what causes software problems that affect end users. If we had had a system like Plumbr back in my Skype days, we would have saved millions of dollars of money and lots of man-hours.”
Plumbr automatically performs tasks that usually take weeks in real time. According to Plumbr’s survey its customers have saved more than $25 million in infrastructure and labor costs by using the tool. Plumbr is especially handy for those tech companies who cannot afford a situation where users are not able to complete a purchase or a transaction because the portal is too slow or malfunctioning.
Priit Potter, CEO of Plumbr, added: “Jaan Tallinn’s interest in Plumbr shows that we are in the middle of transformative times right now. As one of the founders of Skype, Jaan has had first-hand experience with problems that Plumbr now automatically solves and due to that he understands the significance of the solution.” He added that Jaan Tallinn’s technical expertise will become invaluable in developing the product even further. During last year Plumbr increased its value to the clients by detecting 65% more root causes than in 2013.
The new capital will be used for product development and to set up Plumbr’s sales office on the east coast of the US. “The States is our key market and we’re hiring talented sales persons who want to conquer America,” Potter says. Already now more than half of Plumbr’s clients come from the US.
Plumbr is a Java performance monitoring solution that brings transparency into your JVM performance. Plumbr is unique because it is the only solution that automatically detects the root causes of Java performance issues. Plumbr was founded in 2011 by four Estonians. By now, Plumbr has 17 employees and more than 100 customers from all over the world including NASA, NATO, Dell, HBO, Experian and EMC Corporation. Learn more at https://plumbr.io