The Observability Problem

When software applications crash or slow down, developers need to diagnose what went wrong. Observability tools collect performance data - metrics, logs, and traces - to help teams understand system behavior and fix issues, representing a $50B market that remains fundamentally broken. Legacy tools rely on proprietary data collection methods that create vendor lock-in, unpredictable costs, and poor user experiences. Despite OpenTelemetry providing universal open-source standards since 2019, most platforms haven't embraced these standards.

The Dash0 Solution

Mirko Novakovic and his team built Dash0 as the first truly OpenTelemetry-native observability platform. Unlike legacy alternatives, Dash0:

• Provides transparent pricing: Customers pay based on data count, not hidden metrics
• Eliminates vendor lock-in: All data remains standardized and portable
• Delivers superior user experience: Intuitive UI with fully-customizable dashboards
• Ensures enterprise security: SOC 2 Type 2 certified and GDPR-compliant

Now with Agent0, Dash0 introduces the first AI-native copilot that transforms observability from insights into action - automatically creating alerts, dashboards, and resolving issues in real-time.

The Cherry Thesis

We doubled down on Dash0 because they exemplify our approach to enterprise software:

• Massive, underserved market: $50B observability market dominated by incumbent players with fundamental architectural limitations.
• Technical breakthrough: First truly OpenTelemetry-native platform with AI-native Agent0 representing genuine innovation rather than incremental improvement.
• Proven execution: 270+ customers in nine months demonstrates exceptional product-market fit and go-to-market execution.
• Defensible moats: Deep OpenTelemetry expertise and AI-native architecture create sustainable competitive advantages.
• Category-defining team: Mirko's track record building Instana (acquired by IBM for $500M) combined with world-class engineering talent.

Why This Matters Now

As AI transforms software development, observability becomes mission-critical. Modern applications generate unprecedented complexity - companies increasingly operate in the dark about how their systems actually work. Dash0 acts as a guardian for software, like a health monitor that ensures systems function reliably.

Mirko spotted this inflection point early. A decade ago, he built Instana alongside companies like Datadog. After selling to IBM, he wasn't planning another observability company until OpenTelemetry emerged as a once-in-a-decade standard shift. Now, as AI expands observability's scope, Dash0's full-stack approach positions them to grow alongside how software itself is evolving.

The funding accelerates US expansion while doubling down on R&D to deliver their vision of AI-native observability. We're backing Europe's next enterprise software giant.