LightStep, a provider of application performance management (APM) for organizations working with microservices and serverless technologies, has raised $41 million in a Series C funding round.

The round was led by Altimeter Capital with participation from all existing investors, Redpoint, Sequoia, Cowboy Ventures and Harrison Metal.

LightStep has raised $70 million to date. LightStep will use the funding to accelerate product development and meet record market demand.

[Image courtesy: LightStep]