Start-up Haystack Analytics secures $1.2 million investment
Written by Finbarr Toesland Tue 8 Jun 2021
In a funding round that included investors like Founders Club, Y Combinator and Soma Capital, engineering insights tool, Haystack Analytics raised $1.2 million.
Launched last year by Julian Colin and Kan Yilmaz, Haystack Analytics seeks to improve productivity and quickly identify developers who are at risk of burning out. Over the past year, Haystack Analytics has been deployed by tech teams at leading companies such as Microsoft, The Economist and Indiegogo, as well as being used by more than 7,000 other developers.
With average month-on-month revenue growth exceeding 35%, the start-up will use this funding to incorporate more data sources into their solution so companies can better prevent burnout by using user-friendly one-click dashboards and alerts using GitHub data.
Julian Colina, CEO and founder of Haystack Analytics, underlines the importance of tech teams and engineers to the companies they work within.
“The efforts of developers are at the heart of processes, products and, effectively, the bottom line. Until now, it was difficult for CTOs and engineering managers to objectively know what their roadblocks are or have insights into resourcing levels. Haystack gives visibility by providing metrics and alerts to make sure nothing continues to be stuck. We are helping developers to ship faster and improve their satisfaction,” says Colina.
Live data insights provide clear information for businesses that help them more effectively support employees and eliminate bottlenecks around code and productivity. According to Haystack Analytics, enterprises that implement their solution benefit from increased production deployments by 58% and 70% faster cycle times on average.
As the migration towards hybrid working environments continues, Haystack Analytics hope that the insights they offer will ensure the software is shipped quickly, while also reducing incidences of developer burnout.