AI Observability Platform Selector Raises $32M
Selector, a Santa Clara-based AI observability and network intelligence platform, raised $32 million in a new funding round. The investment, led by AVP, doubled the company's valuation to $375 million. The funding highlights investor interest in platforms that provide auditable AI and network intelligence, a growing demand among enterprise and agency clients.
- This funding round brings Selector's total capital raised to over $61 million, following a $28 million Series A in March 2022. - Selector has demonstrated significant growth, reporting that its cumulative annual recurring revenue (ARR) reached 230% of 2024 levels, marking the fourth consecutive year of doubling ARR. - The company was founded in 2019 by Kannan Kothandaraman and Nitin Kumar, both of whom are former executives from Juniper Networks. - Lead investor AVP (Advance Venture Partners) is a venture capital firm that focuses on high-growth technology companies and manages over €2.5 billion in assets. - Selector's customer base is now approximately 80% Fortune 1000 organizations, including three Fortune 20 clients in manufacturing and healthcare. - The company is expanding its go-to-market strategy globally, with a recent expansion into the Japanese market and new strategic partnerships. - For a founder selling to marketing agencies, the adoption of AI observability tools by large enterprises highlights a growing trend of using AI to ensure the performance and reliability of digital platforms—a key selling point for any SaaS tool serving clients where downtime can impact campaigns and client relationships. - The new capital is earmarked for accelerating AI innovation and product development, including the launch of next-generation "Agentic ChatOps" capabilities for more complex, multi-turn reasoning and investigation.
