The data may be the unused oil, but it will only be valuable if you make pleasing use of it. Today, a startup that has built a unused type of production analytics platform for developers, security engineers and data scientists to better track and understand how data moves around their networks announced a funding round that confirms demand for their technology. Coralogix, which provides live streaming services to engineering teams, has received $55 million in a Series C funding round.
The round was led by Greenfield Partners, with the participation of Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s – OG Tech, Janvest Capital Partners, Maor ventures and 2B Angels.
This Series C comes about 10 months following the $25 million Series B company, and from what we understand, Coralogix’s valuation is now in the $300M – $400M range, a vast jump start for the startup, coming on the back of its 250% growth since this time From final year, increasing the number of paying clients by 2,000, and some little teams paying as little as $100 a year through larger organizations paying $1.5 million a year.
Previously, Koralogix — which is founded in Tel Aviv and also has headquarters in San Francisco — raised $10 million.
Coralogix initially got its start as a quality assurance support platform for R&D and engineering teams. The focus here is on log analytics and metrics for platform engineers, and this still forms a big part of their business today. Additionally, in recent years, Coralogix’s tools are also being applied to cloud security services, contributing to a company’s threat intelligence by providing a way to monitor data for any inconsistencies that would typically indicate a breach or other incident. (Integrates with Alien Vault and others for this purpose.)
The third area that is being picked up now and will be developed further — one of the uses of this investment, in fact — will be the development of how Coralogix uses business intelligence. This is a particularly interesting area because it plays a role in how Coralogix is created, to provide analytics about data prior it is indexed.
“It’s data of lofty volume, but of low value,” said Ariel Sarraf, CEO of Coralogix, in an interview. “Customers do not want to store data [or index it] But they want to watch it live and visualize it. We’re starting to see a use case where business information and our analytics come together for sentiment analysis and other areas.”
There are dozens of powerful companies providing tools these days to cover log analytics and data observation, underscoring the overall growth and importance of DevOps these days. They include companies like DataDog, Sumo Logic, Splunk, and more.
However, the teller believes that what sets his company apart from them is its approach: It basically devised a way to monitor and analyze the flow of data prior indexing it, giving engineers more flexibility to query data in distinct ways, essentially collecting more. insights faster. Another problem with indexing, he said, is that it affects latency, which also has a significant impact on an organization’s overall costs.
For many of Coralogix’s competitors, shifting around the nature of the business to focus not first on indexing would be akin to rebuilding the entire business, and it’s firm to do on their scale (although that’s actually what Coralogix did, when it turned into a little business several years ago). years, which is the time when the teller took over as CEO). One company that he thinks may be a direct competitor is Confluent.
“I think we’ll see Confluent get into the monitoring space lovely soon because they have the streaming capabilities, but we don’t have the tools,” he said. Another potential competitor looms big: Salesforce, and its potential move into this field, brings out the quicksand of what underpins enterprise IT investment decisions today.
The cashier noted that Salesforce already has Heroku, Slack, and Tableau, which are three main tools developers use to track and work with data, and there have been powerful rumors of it trying to purchase DataDog, “So we definitely see where they’re going. Sure, they understand the way it’s changing. stuff. It was all budgets when Salesforce first started in marketing and sales. Now you’re selling to IT. Salesforce understands that shifts to developers, and that’s where they’re headed.”
It provides a very interesting prospect and coming for companies like Coralogix, as investors believe that the startup will persevere to be shaping up as it is until now.
“the Shay Greenfield, managing partner at Greenfield Partners, said the massive shift in digital transformation is leading to an explosion of data, which has so far forced companies to choose between cost and coverage. Real-time broadcast analytics from Coralogix The pipeline uses proprietary algorithms to burst this trade-off and accomplish significant cost savings. Coralogix has built a client list that includes some of the largest and most innovative companies in the world. We are thrilled to partner with Ariel and the Coralogics team on their journey to reinvent the coming of data monitoring.”