Cloud monitoring company Metricfire has been snapped up by a private equity firm
The Dublin company was founded in 2012 and specialises in cloud monitoring software
DUBLIN TECH COMPANY Metricfire has been acquired by global private equity firm Xenon Partners.
Metricfire built a cloud monitoring platform that helps companies assess the status and functioning of their technical infrastructure.
The company was founded in 2012 by Dave Concannon and Charlie von Metzradt. According its most recent set of accounts, it had on average 18 employees as of January 2018.
Metricfire’s customers include companies such as Nielsen and Playtika. No financial details for the deal have been disclosed.
The private equity firm’s chairman is Jonathan Siegel, who has previously backed a number of successful Irish tech businesses. He is a backer of Intercom and Cork cybersecurity company Barricade, which was bought by Sophos in 2016.
He said in a statement announcing the Metricfire deal that Xenon will be able to push the company into further growth.
“This is a great opportunity for us to bring in our expertise and partner with the existing team to enable Metricfire to continue on its growth path,” he said.
Xenon typically acquires early and mid-size tech companies often in the software-as-a-service space. It has operations in San Francisco, Las Vegas and Tokyo.
Eamon Leonard, the serial entrepreneur, was appointed as non-executive director of Metricfire in July according to corporate documents. A spokesperson for Xenon said Leonard was brought on “for administrative purposes” and is not an employee.
Siegel was previously an adviser to Orchestra, one of Leonard’s companies which was acquired by Engine Yard in 2011, and was investor in Cohort, a company which was founded by Leonard and closed last year.
The Metricfire acquisition comes a few months after Xenon acquired US company Scout APM, an application monitoring company. In January, Leonard announced that he was taking on a role at Scout heading up its European operations.
Leonard has since left the Scout APM role and in recent weeks announced he was starting a new company called Boundless.
“Scout and Metricfire are independent companies and expected to remain independent,” Xenon’s spokesperson said.
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