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Press release content from News Direct Corporation. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from News Direct Corporation
Press release content from News Direct Corporation. The AP news staff was not involved in its creation.

Observability platform LOGIQ raises US$1.8 million in seed funding from Leo Capital

December 16, 2020 GMT
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--News Direct--

LOGIQ, an observability platform for IT administrators and DevOps teams, announced that it has raised US$1.8 million in its first institutional seed funding round, led by Leo Capital. The funding will be used to expand its AI/ML capabilities and onboard more customers. LOGIQ solves the ubiquitous problem enterprises are faced with when handling the variety and volume of data in the organisation, while running their IT infrastructure and applications.

Half of all organizations* process more than 100GB of log data in different formats every day, and the numbers continue to rise. This is just the tip of the iceberg. There is such a flood of data available from APIs, databases, data lakes, etc. The lack of a unified platform that can converge this data has long been a pain point for IT practitioners, DevOps users, and developers alike. LOGIQ’s mission is to make all IT data accessible and analyzable.

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By unifying data types, such as logs, metrics, databases, and APIs, LOGIQ’s Observability platform enables them to harness the power of machine data analytics for applications and infrastructure in a single platform with 1-Click simplicity. Users can aggregate log data, gather performance metrics, access API’s and connect databases such as Elastic, Mongo, Postgres, Druid, and Mysql for real-time visibility into the health of their IT infrastructure and application environments.

Commenting on the fundraise Ranjan Parthasarathy, CEO and Co-Founder, at LOGIQ, said, “We started with the goal of helping enterprises transition from managing their data in silos to a more unified manner in which they can harness their data. With LOGIQ, we want to empower developers and administrators in keeping their infrastructure and applications always running. The funding raised will enable us to widen our reach and also enhance our AI/ML capabilities.”

Tito George, Co-Founder, LOGIQ, said, “Data is the new oil across enterprises. However, there is also a need for a solution that helps them manage this data efficiently without hampering their operational efficiency or infrastructure. This is what LOGIQ has set out to do with its products and offerings. This funding will help us take our solutions to more industry stakeholders.”

Commenting on the investment, Rajul Garg, Managing Partner, at Leo Capital, said, “There is a huge amount of data being generated across all sectors today. Consequently, the need of the hour is a platform like LOGIQ that can help enterprises organize, manage, and categorize this data without affecting their processes and infrastructure. We are thrilled to back them and have tremendous faith in both the company and its leadership.”

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LOGIQ can be hosted as a self-service or managed SaaS, providing maximum flexibility to the user. LOGIQ’s support for industry standards ensures full compatibility with legacy infrastructures like bare-metal servers, VM’s, switches, and more modern cloud-native environments like Kubernetes and public cloud infrastructure. Some of their USPs include unified view, predictable pricing, one-click set-up, and zero tax storage management tax.

LOGIQ has a strong and motivated team with over 100 years of expertise in production engineering, building and running IT, DevOps, and DevSecOps in private and public cloud environments. LOGIQ plans to democratize the observability space and make it more accessible for organizations of all sizes.

Ends

* International Data Corporation (IDC) survey, The Pivotal Role of Log Analytics in Modern IT Infrastructures

Notes to the editor

About LOGIQ

LOGIQ is the creator of the LOGIQ platform, a converged data analysis software that brings ingest, indexing, search, SQL, and streaming capabilities backed by any S3 compatible object-store. LOGIQ Log Insights is built on this converged architecture bringing scalability and simplicity to your IT operations analytics projects. The converged architecture enables rapid integration with AI platforms for gaining valuable business insights from your data.

About Leo Capital

Leo Capital, a venture capital firm focused on early-stage technology investments, has built a portfolio of over 20 companies since its launch in 2018. Tech is the common denominator for the venture capital fund that has invested in software-as-a-service companies, consumer internet, logistics, health tech, ed-tech, and fintech startups. Its portfolio includes automation testing tool Lambdatest, cloud PC Workspot, diabetes management app BeatO, logistics startup Vahak, gaming platform – Bombay Play, video shopping app Bulbul and ed-tech startup Edureka.

Contact Details

Bilal Mahmood

+44 7714 007257

b.mahmood@stockwoodstrategy.com

Company Website

https://logiq.ai/

View source version on newsdirect.com: https://newsdirect.com/news/observability-platform-logiq-raises-us-1-8-million-in-seed-funding-from-leo-capital-577079367