San Francisco and I-based Coralogix, an in-stream observability platform, has picked up $142 million in funding. With this, the total funding raised by the company is $238 million.
The Series D funding round was co-led by new investors, including Advent International and Brighton Park Capital. It also saw participation from Europe’s largest female-led VC Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures that invested in Silverfort, Joule Capital Partners, and Maor Investments.
With proceeds from this round, Coralogix will grow its go-to-market, product, and R&D teams within the Americas, EMEA, UK, and APAC. As the company expands, it is committed to offer endless data possibilities with its one-of-a-kind 24/7 in-app support and response times under one minute.
Besides the investment, Alek Ferro of Advent and Mike Gregoire of Brighton Park have joined the Coralogix board of directors. Previously, the company has signed some of the most successful hypergrowth and enterprise customers in the US, Israel, India, and EMEA.
“Coralogix is an established leader in the modern observability market and is differentiated by its product, mission, and vision,” said Alek Ferro, Director at Advent. “We are confident that Coralogix’s unique data streaming architecture and analytics pipeline will continue to transform the category through its ability to provide superior monitoring coverage, insights, and results while yielding significant cost savings. We’re thrilled to partner with the Coralogix management team as they continue to build on this momentum.”
Mike Gregoire, Partner at Brighton Park and former CEO of CA Technologies said, “Coralogix’s offering is incredibly powerful, and we see several opportunities to grow their functionality while preserving the highly responsive support their customers are accustomed to. We look forward to partnering with the talented team at Coralogix as they scale into the leading platform in the observability market.”
“Our approach at Coralogix is to solve the fundamental challenges of ever-growing data 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 round of funding, we will be expanding our offering into further markets as we continue our journey to provide harmonious observability,” said Ariel Assaraf, CEO of Coralogix.
Streama tech: All you need to know
Founded by Ariel Assaraf, Guy Kroupp, Lior Redlus and Yoni Farin in 2014, Coralogix uses streaming analytics to rebuild the path to observability. From is touted to be the best-in-class log analytics platform. Also, it is a full-stack observability platform with robust capabilities for metrics, tracing, and security data, in addition to logs.
The company also expanded into the security market with the launch of Snowbit, a cybersecurity venture focused on helping cloud-native companies comprehensively manage the security of their environments.
The company’s flagship Streama technology enables real-time insights and alerting for all observability data without relying on storage or indexing. In addition, the company is announcing a new distributed query engine enabling fast queries on dynamically mapped data from the customer’s remote storage.
This enables customers to analyse data in-stream and then query it from their own archive. The platform changes the unit economics of observability to give customers a 40-70% reduction in costs while simultaneously improving their performance and data insights.