Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Logz.io lands $52M to keep growing open source-based logging tools

Logz.io announced a $52 million Series D investment today. The round was led by General Catalyst.

Other investors participating in the round included OpenView Ventures, 83North, Giza Venture Capital, Vintage Investment Partners, Greenspring Associates and Next47. Today’s investment brings the total raised to nearly $100 million, according to Crunchbase data.

Logz.io is a company built on top of the open source tools Elasticsearch, Logstash, and Kibana (collectively known by the acronym ELK) and Grafana. It’s taking those tools in a typical open source business approach, packaging them up and offering them as a service. This approach enables large organizations to take advantage of these tools without having to deal with the raw open source projects.

The company’s solutions intelligently scan logs looking for anomalies. When it finds them, it surfaces the problem and informs IT or security, depending on the scenario, using a tool like PagerDuty. This area of the market has been dominated in recent years by vendors like Splunk and Sumo Logic, but company founder and CEO Tomer Levy saw a chance to disrupt that space by packaging a set of open source logging tools that were rapidly increasing in popularity. They believed could build on that growing popularity, while solving a pain point the founders had actually experienced in previous positions, which is always a good starting point for a startup idea.

Screenshot: Logz.io

“We saw that the majority of the market is actually using open source. So we said, we want to solve this problem, a problem we have faced in the past and didn’t have a solution. What we’re going to do is we’re going to provide you with an easy-to-use cloud service that is offering an open source compatible solution,” Levy explained. In other words, they wanted to build on that open source idea, but offer it in a form that was easier to consume.

Larry Bohn, who is leading the investment for General Catalyst, says that his firm liked the idea of a company building on top of open source because it provides a built-in community of developers to drive the startup’s growth — and it appears to be working. “The numbers here were staggering in terms of how quickly people were adopting this and how quickly it was growing. It was very clear to us that the company was enjoying great success without much of a commercial orientation,” Bohn explained.

In fact, Logz.io already has 700 customers including large names like Schneider Electric, The Economist and British Airways. The company has 175 employees today, but Levy says they expect to grow that 250 by the end of this year, as they use this money to accelerate their overall growth.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Leading VCs discuss how COVID-19 has impacted the world of digital health

In December 2019, Extra Crunch spoke to a group of investors leading the charge in health tech to discuss where they saw the most opportunity in the space leading into 2020 . At the time, respondents highlighted startups in digital therapeutics, telehealth and mental health that were improving medical practitioner efficiency or streamlining the distribution of care, amongst a variety of other digital health markets that were garnering the most attention. Where top VCs are investing in digital health In the months since, the COVID-19 crisis has debilitated national healthcare systems and the global economy. Weaknesses in healthcare systems have become clearer than ever, while startups and capital providers have struggled to operate while wide swaths of the market effectively shut down. Given significant volatility and the rapid changes seen in the worlds of healthcare, venture and startups broadly, we wanted to understand which inefficiencies might have been brought to light, w...
Post a Comment
Read more

News-reading app Flipboard expands local coverage, including coronavirus updates, to 12 more U.S. metros

Earlier this year, personalized news aggregation app Flipboard expanded into local news . The feature brought local news, sports, real estate, weather, transportation news and more to 23 cities across the U.S. Today, Flipboard is bringing local news to 12 more U.S. metros and is adding critical coronavirus local coverage to all of the 35 supported locales. The 12 new metros include the following:  Baltimore, Charlotte, Cleveland, Detroit, Indianapolis, Nashville, Pittsburgh, Orlando, Raleigh, Salt Lake City, St. Louis, and Tampa Bay. They join the 23 cities that were already supported:  Atlanta, Austin, Boston, Chicago, Dallas, Denver, Houston, Las Vegas, Los Angeles, Miami, Minneapolis-St. Paul, New Orleans, New York City, Philadelphia, Phoenix, Portland, Sacramento, San Diego, San Francisco Bay Area, Seattle, Toronto, Vancouver and Washington, D.C. To offer local news in its app, Flipboard works with area partners, big and small, like The Plain Dealer’s Cleveland.com , ...
Post a Comment
Read more