News and Analysis

Sleuth rallies $22m Series A

Sleuth, an engineering efficiency platform, has secured $22 million in Series A funding.

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Sleuth, an engineering efficiency platform, has secured $22 million in Series A funding. Felicis led the round.

PRESS RELEASE

San Francisco, CA – May 3, 2022 – Sleuth, the leading Engineering Efficiency platform, announced today that it has raised $22M in Series A funding led by Felicis. Menlo Ventures joined the round with participation from CRV, which led Sleuth’s seed round. With this fresh round of capital, Sleuth plans to accelerate the expansion of the team and further invest in capabilities to help engineering teams improve their efficiency. Startups and established companies including Atlassian, LaunchDarkly, Puma, Matillion, and Monte Carlo have relied on Sleuth to measure and improve their engineering efficiency.

Sleuth makes engineering efficiency measurable and easy to improve. Sleuth gives teams a complete and accurate view of metrics, insights into where the bottlenecks lie, and tools to automate workflows for efficiency.

“A dirty little secret in engineering is that we don’t have objective measures of efficiency,” said Dylan Etkin, CEO at Sleuth. “Even though engineering gets two-thirds of the company’s budget, we have the least visibility into how we’re doing compared to other departments, and that really has to change.”

Past attempts to measure engineering efficiency have brought frustration and distrust among engineers because they’ve often defaulted to individual and dubious proxy metrics – such as lines of code written or a number of tickets closed – resulting in engineers feeling micromanaged or spied upon.

Fortunately, the industry has now begun to standardize around a set of popular studies-backed, team-oriented metrics called DORA metrics. Sleuth is designed to specifically and exclusively track DORA metrics. Engineers enjoy using Sleuth because it removes the burden of manual and tedious work of tracking these metrics for the managers. Sleuth also helps engineers improve on the metrics, not just report them, by giving them the ability to track the progress and health of deployments and automate workflows.