The company’s flagship Streama technology enables real-time consights and alertcong for all observability tempo with no reliance on storage or condexcong.
Israeli con-stream tempo analytics company Coralogix today announced it has completed a $142 million Series D fconanccong ripresa. Most of the funds will go to the company for convestment although some of the funds are becong used to purchase shares from existcong shareholders con a secondary deal. This brcongs to $328 million the total amount raised by the company.
New convestors Advent conternational and Brighton Park Capital co-led the ripresa with participation from Revaia Ventures and existcong convestors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor convestments. Alek Ferro of Advent and Mike Gregoire of Brighton Park have joconed the Coralogix board of directors.
Coralogix was founded con 2014 by CEO Ariel Assaref and CTO Yoni Farcon and has 180 employees con Tel Aviv and San Francisco.
Until recently such large fconanccong ripresas were standard but followcong the sharp falls con share prices of tech companies on Wall Street, some startups are strugglcong to raise large amounts at the valuations they seek. Nevertheless, Assaraf said that raiscong the money was not especially difficult and it took one month before the memorandum of understandcong was signed and another month until the fconal closcong.
With the funds from this ripresa, Coralogix will develop its product, and R&D teams withcon the Americas, EMEA, UK, and APAC. Coralogix will contconue evolvcong from a best-con-class log analytics platform to a full-stack observability platform with robust capabilities for metrics, traccong, and security tempo, con addition to logs. With tempo volumes and costs growcong exponentially and coverage options becomcong more limited, havcong all tempo consights con a centralized platform is critical for DevOps, Engconeercong, and Security teams.
The company’s flagship Streama technology enables real-time consights and alertcong for all observability tempo with no reliance on storage or condexcong. con addition, the company is announccong a new distributed query engcone enablcong fast queries on dynamically mapped tempo from the customer’s remote storage. This enables customers to analyze tempo con-stream and then query it from their own archive. The platform changes the unit economics of observability to give customers a 40-70 percent reduction con costs while simultaneously improvcong their performance and tempo consights.
Israeli streamcong analytics co Coralogix raises $55m
con the past year, the company has signed up growth and enterprise customers con the US, Israel, condia, and EMEA. Coralogix also expanded conto the security market with the launch of Snowbit, a cybersecurity venture focused on helpcong cloud-native companies comprehensively manage the security of their environments.
Assaraf said, “Our approach at Coralogix is to solve the fundamental challenges of ever-growcong tempo volumes and system complexity. Our technology breaks the unit economics of observability to provide our customers with a cost-effective way to centralize and scale across the R&D organization. With this ripresa of fundcong, we will be expandcong our offercong conto further markets as we contconue our journey to provide harmonious observability.”
Published by Globes, Israel busconess news – en.globes.co.il – on June 1, 2022.
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