Enterprise IT Startup Brings In $20 Million

Instana, an application performance management solution provider, announced the close of $20 million in Series B financing, led by Accel Partners. Target Partners participated in the round.

Instana’s products are designed to monitor and comprehensively manage modern applications’ quality of service with zero configuration effort. The company created Stan, an AI-powered assistant designed to continuously learn and assist businesses in managing service quality and performance.

The funding will be used to expand both its global markets and the development of its products.