- Log management platform Humio announced it raised $20 million in Series B funding led by Dell Technologies Capital
Humio — a log management platform enabling complete observability for all streaming logs in real-time, self-hosted or in the cloud — announced it raised $20 million in Series B funding led by Dell Technologies Capital with participation from existing investor Accel.
The funding round — which brings the company’s total investment to $32 million — will be used for increasing the company’s capabilities to keep pace with demand across global markets, and expanding the development of its self-hosted and SaaS products.
Humio also revealed its Unlimited Ingest for the Cloud Plan. This complement’s the company’s current Unlimited Self-hosted Plan. And the Unlimited Ingest for the Cloud Plan significantly changes the cost of scaling to massive volumes in a SaaS environment and gives customers similar benefits as Humio’s Unlimited Self-hosted Plan.
This extends the platform’s ease in scalability and the Humio Bucket Storage seamlessly increases data storage and retention beyond 1 petabyte at industry-leading low costs thus removing all constraints in handling long retention and data volumes at scale.
Log management platforms are known to continually collect data about what is happening across a company’s infrastructure and help identify a variety of problems from application service down-time to cyber attacks.
Gartner estimates that by 2021, fewer than 15% of organizations will implement holistic monitoring thus putting $255 billion of investments in cloud-based solutions at risk.
Humio is minimizing the challenge of sifting through the rapidly and ever-growing volume of event and data logs by enabling users to log all data (structured or unstructured) in real-time and at scale. And the company’s modern and index-free log management solution helps organizations understand large amounts of data, instantly pinpoint availability concerns, identify vulnerabilities in complex computing environments, and recover quickly from incidents.
Humio’s customers are large organizations across multiple industries, including financial services, education, healthcare, communications, and cloud-based service providers like Bloomberg, Netlify, HP Aruba, Michigan State University, SpareBank 1, and Vijilan. And to further increase interoperability and performance, the company expanded its partner ecosystem with Optiv, Eversec, SHI, PagerDuty, Corelight, Instana, Tines, Netic, Kloia, Guidepoint, Confluent, Min.io, etc.
“At Humio, we believe that the amount of data collected by customers should never be limited. Nearly two years ago we introduced the first Unlimited Ingest Plan for self-hosted deployments and we are thrilled to now bring the first Unlimited Ingest Plans for Cloud. By providing the lowest total cost of ownership, industry-leading unlimited plans, minimal maintenance and training costs, and remarkably low compute and storage requirements, we’ve succeeded in driving rapid user adoption. Humio has experienced unstoppable momentum as seen with 550% year-over-year revenue growth, a 6.5 times increase over this time last year. The addition of Dell Technologies Capital to our existing investor, Accel, is further validation for Humio and the value we bring to customers. DTC’s guidance and support will be critical as Humio continues to scale, mature, and succeed.”
-Geeta Schmidt, CEO and co-founder at Humio
“Humio’s next-generation log storage, analysis, and management architecture enables Global 2000 enterprises to ingest and analyze logs in real-time at a fraction of the cost of existing decades-old technologies. Some of the world’s largest enterprises are already using Humio enterprise-wide, and we are glad to aid Humio in their journey towards democratizing the log analytics world.”
-Deepak Jeevankumar, managing director at Dell Technologies Capital
“Humio’s unlimited ingest empowers my team to make active decisions about changes to our system with full confidence knowing that we have all of the information, visibility, and insights necessary. When I’m able to log everything, it means that I can look at my developers and say, ‘go ahead, absolutely.’ That’s really powerful, especially because you can’t ever really go back in time and add more information. You can’t say, ‘I wish I knew that field.’ So it’s more like ‘let’s remove it from the developer’s mind, log everything, and then potentially use it later in an effective way’.”
-Ryan Neal, Netlify Director of Infrastructure
“We’re thrilled to strengthen our partnership with Humio as they’re building the leading solution in this fast-growing log management market. At Accel we’ve been fortunate to back many of the defining developer-oriented companies and we are excited to see Humio emerge as an integral part of a modern enterprise’s IT software stack.”
-Andrei Brasoveanu, partner at Accel Partners