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Tracelytics collects $5.2 million to help customers keep an eye on their web apps

Posted by Scott Kirsner  March 26, 2012 09:00 AM

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A Providence start-up called Tracelytics is announcing today that it has raised $5.2 million in a funding round led by Bain Capital Ventures. That makes Tracelytics one of the best-funded alumni of the Betaspring accelerator program in Providence. (NuLabel Technologies has raised about the same amount, according to Betaspring director Allan Tear.) But Tracelytics CEO John Vigeant tells me the company has leased a new office in Boston's Leather District, and will be moving north from Providence in early April.

Tracelytics is a software-as-a-service company that helps its customers monitor and improve the performance of their web applications: how quickly, for instance, did a web site respond to a visitor's query about the inventory level of a specific product, and where were there problems? Tracelytics aims to provide a single view of complex applications that may run on numerous different servers across the Internet. It's already used by sites like GitHub and SeatGeek. Pricing starts at $95 per month.

The company was founded by a trio of Brown University grads in 2010; it now has eight employees. Vigeant, who joined as CEO in January, says the plan is to double in size over the next three months, primarily adding salespeople and engineers. (Access to talent is one key reason for the move to Boston.)

Investing alongside Bain in this latest funding round are Flybridge Capital Partners, Google Ventures, and Battery Ventures, who supplied seed funding to Tracelytics last year.

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Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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