Cobalt has advised venture capital firm Karma Ventures on its investment in Plumbr.
According to Cobalt, "Plumbr software makes digital user experiences transparent by monitoring interactions that users perform with customer software. It also exposes root causes of performance and availability issues that trigger poor user experience." With its investment, Karma Ventures being the first institutional investor in the company.
Karma Ventures is an early-stage venture capital firm, specialized in seed and A round investments in Europe’s promising tech startups. Its key investors include Ambient Sound Investments and the Baltic Innovation Fund, a fund-of-fund initiative launched by the European Investment Fund in close cooperation with the governments of Estonia, Latvia, and Lithuania.
“Plumbr has so far invested in product development and initial go-to market steps,” said Priit Potter, CEO of Plumbr. “The feedback we get from the market gives us confidence to start scaling sales. Raising additional funding and bringing in extra commercialization power enables us to step up our expansion efforts.”
Kristjan Laanemaa, a partner at Karma Ventures, commented that: “We decided to back Plumbr after recognizing the potential of building a new-era application performance monitoring solution company. We think that the future is not only in monitoring the technical performance of digital services, but also in exposing the business impact of performance and availability issues. This gives businesses the chance to detect and eliminate problems that could otherwise have a significant impact on business results.”
Karma Ventures was advised by Cobalt Partner Kristel Raidla-Talur and Associate Greete-Kristiine Kuru on all transactional matters, as well as Specialist Counsel Ave Piik and Associate Aleksander Tsuiman on IP matters.
Cobalt did not reply to our inquiry about the identity of counsel for Plumbr.