Logz.io Raises $52 Million in Series D Funding Led by General Catalyst
BOSTON and TEL AVIV, May 29, 2019 (GLOBE NEWSWIRE) -- Logz.io, an intelligent and scalable machine data analytics platform based on open source ELK and Grafana, today announced it has raised $52 million in Series D funding led by General Catalyst with participation from OpenView Ventures, 83North, Giza Venture Capital, Vintage Investment Partners, Greenspring Associates and Next47. The funding will be used to further develop and enhance the company’s product offering, increase their global presence and invest in its partner ecosystem.
Dedicated to building a better open source experience, Logz.io has grown rapidly--more than doubling their business in 2018--and now serves more than 700 customers such as Unity, British Airways, Bleacher Report, Symantec, and Schneider Electric.
Founded in 2014 by two engineers dedicated to alleviating the pains of operating and securing large distributed workloads, Logz.io empowers engineers to focus their efforts on building better software rather than maintaining difficult to scale open source monitoring stacks. Originally built to enhance ELK by adding increased cloud scalability, a variety of enterprise-grade features and machine learning capabilities, the company has expanded their open source offering by adding new products for security analytics based on Kibana and announced the upcoming time-series analytics using Grafana.
Designed for monitoring modern applications, Logz.io combines cloud-native simplicity and scalability with crowdsourced artificial intelligence to help engineers identify critical issues before they occur and enable them to monitor, troubleshoot and secure mission-critical applications using one unified platform.
“Before switching to Logz.io, my engineers were spending over 20% of their time managing our self hosted logging platform; it could not reliably scale during a crisis when we needed it and integration with our heterogeneous environments was very tricky,” said Jujhar Singh, Global Head of DevOps at The Economist. “Since moving to Logz.io, our teams spend much more of their time building better code, and I know the Logz.io platform will scale to any level we need. Plus, the additional AI capabilities Logz.io provides makes it much easier for my engineers to find and fix problem areas before they affect production.”
“The role machine data analysis plays in maximizing performance and minimizing downtime is unquestionable, but increasingly distributed environments and massive volumes of data make it nearly impossible for developers to keep up. We are enabling engineers to consume open-source in a completely new way to meet the growing challenge of machine data analysis efficiently and at any scale, allowing them to focus their time and energy on driving value for the business,” says Tomer Levy, co-founder and CEO of Logz.io. “This new funding will enable us to double down on our product leadership to better serve our customers as well as enable more companies around the world to benefit from different open-source with Logz.io through our growing go-to-market and strategic partnerships.”
In addition to expanding their product offering, Logz.io plans to use the funding for expanding their partnerships with global technology leaders. The company recently announced a partnership with Microsoft Azure enabling customers to easily use open-source ELK on Azure. This partnership enables Logz.io to quickly address this underserved market and expand globally through the Microsoft sales team in six global regions. In addition, Logz.io recently expanded their AWS regional coverage across North America, Europe, and Australia. The company has offices in Tel Aviv and Boston and recently opened their European headquarters in London.
“Managing service reliability and security is a real resource sinkhole for technical teams,” said Larry Bohn, Managing Director at General Catalyst. “Logz.io uses crowdsourcing and ML to up-level the efficiency and effectiveness of those teams. Customers rave and we think Logz.io has the potential to transform infrastructure management in the enterprise on down to early-stage startups.”
Logz.io is an intelligent and scalable machine data analytics platform built on ELK and Grafana that empowers engineers to monitor, troubleshoot, and secure mission-critical applications more effectively. Customers like Turner Broadcasting, Intel, and Rent-A-Center use Logz.io to analyze machine data at scale, driving higher reliability and spending less time troubleshooting issues while decreasing overall costs.