Functional Software (DBA: Sentry) risks losing its eligibility as a Prime Unicorn Index component after its valuation slipped below $1 billion. Once worth $2.5 billion, the company saw its share price slide 67.7% in recent weeks in the secondary market, reducing its valuation to nearly $806 million.
Sentry provides application monitoring and error-tracking solutions. The platform offers real-time insights into software performance, helping developers identify and resolve issues efficiently. Sentry supports multiple programming languages and frameworks and features detailed error reports, diagnostics, and performance monitoring tools.
Sentry has raised a total of $216.73 million from investors, including BOND Capital, K5 Global, Accel, New Enterprise Associates, and Slack Fund. Its last round was a $90 million Series E, closed in May 2022 at $57.21 PPPS.
According to Caplight, Sentry was trading at $18.50 per share as recently as March 29, 2024. This drops the company’s valuation below $1 billion, putting it at risk of being removed from the Prime Unicorn Index.
See how Sentry’s share price has performed below.
