- Coralogix, the provider of a leading ML-powered log analytics solution, announced it raised $10 million in Series A funding
Coralogix — the provider of a leading ML-powered log analytics solution — announced that it raised $10 million in Series A funding. Including this round, Coralogix has raised a total of $16.2 million.
Aleph led the round with participation from StageOne Ventures, JANVEST Capital Partners, and 2B Angels. And the funding round will be used to scale sales, marketing, and accelerate product innovation for Coralogix’s best-in-class log analytics platform.
The company also announced that Matt Handler, former VP of Sales and Channel at Sumo Logic is going to be joining the Coralogix board of directors.
Plus Coralogix also announced that it is officially entering the cybersecurity market with the launch of an integrated security information and event management solution (SIEM) and intrusion detection system (IDS) specifically designed for DevOps teams.
By utilizing the latest in machine learning, the new solution gives companies a multidimensional view of their cloud and on-premise security data. And the combined solution enables DevOps teams to tap into their server, audit, VPC Flow Logs, and CloudTrail logs to monitor and analyze their security events. Plus it leverages the company’s new security service for security anomaly detection within network packets to detect and eradicate any potential threats.
The machine learning technology in Coralogix’s platform enables users to reach a faster time to market, avoid customer attrition, and accelerate their version delivery without compromising quality or stability. And more than 1000 global-leading companies, including Payoneer, BookMyShow, and PayU use Coralogix to power their businesses.
“Companies have become dependent on the cloud to run every aspect of their business, yet diagnosing operational problems continues to be a major challenge,” said Coralogix co-founder and CEO Ariel Assaraf. “My CTO Yoni Farin and I re-built Coralogix in 2017 to help companies manage the growing complexity of distributed cloud applications. Here we are two years later, and it’s astonishing what we’ve been able to achieve. This new capital will help complete our vision to empower DevOps to control operations and security data from collection through to insights and decisions — with the ultimate goal to make raw log data obsolete.”
Launched in 2015 by data and security experts from the Israeli Intelligence Corps, Coralogix uses cutting-edge algorithms to autonomously manage and analyze log data in cloud applications. And using Coralogix, engineers can instantly narrow down hundreds of millions of logs to suspected logs, broken flows, error trends, and problematic version upgrades.
“What impressed us most about Coralogix is the cult following they’ve earned from the developer community,” added Aleph general partner Aaron Rosenson. “Engineers are fanatic about this product and are spreading its value by word of mouth, leading to remarkable sales momentum. We look forward to supporting the company as they execute their ambitious plan to scale the company and product globally. They are a young company, yet they serve several Fortune 500 enterprises and thousands of leading companies including, Postman, Monday, Fiverr, KFC, and Caesars Palace. We look forward to playing a role in the company’s continued growth.”
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