Sutter Hill Ventures, a private equity firm, led a $115m Series B round in Observe, a SaaS observability company, with participation from Capital One Ventures, Madrona and Snowflake Ventures. "Legacy monitoring and APM players, shackled by outdated architectures, are dead companies walking. As private equity or strategic acquirers strip them down for parts, Observe is taking a new approach designed for today's modern distributed applications and massive data volumes. We're thrilled to have investors who are thinking big and validating Observe's approach in one of the fastest-growing segments in tech," Jeremy Burton, Observe CEO.