Observe, a data observability platform, has successfully raised $115M in a Series B financing round. The funding round was led by Sutter Hill Ventures, with significant investments from SnowflakeDB, among other participants including CapitalOne. This financial milestone underscores the confidence investors have in Observe's approach to the observability market. The company disclosed impressive financial performance metrics for FY24, including a 171% increase in Annual Recurring Revenue (ARR) and a Net Revenue Retention (NRR) rate of 174%. The financing round also saw contributions from Madrona Ventures, Capital One Ventures, and Snowflake Ventures. The valuation of Observe post-funding is estimated to be between $400M-$500M.