Data analytics tech startup Coralogix raises $25M in Series B funding to monitor and analyze logs and data in cloud applications
Coralogix is a San Francisco-based tech startup and a provider of log analytics SaaS platform that improves the delivery and maintenance process for software providers. Through its machine learning-based Log Analytics platform, Coralogix empowers teams to autonomously manage and analyze data in cloud applications.
Today, Coralogix announced it has raised $25 million in Series B funding to help Elasticsearch’s 200 million user install base utilize ELK stack capabilities without the use of storage. The round, which brings the company’s total amount raised to $41.2 million, was backed by new investors Red Dot Capital Partners and O.G. Tech Ventures (backed by Eyal Ofer) co-led the round with participation from existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels. In conjunction with the funding, Coralogix also announced that Barak Salomon of Red Dot Capital Partners and Roy Oron of O.G. Tech Partners will join its board of directors.
Founded in 2013 by Ariel Assaraf, Guy Kroupp, Lior Redlus, and Yoni Farin, Coralogix helps businesses reduce issue resolution time, deliver higher quality versions, improve customer satisfaction, and decrease maintenance costs. Its platform’s machine learning engine enables users to improve their stability, and accelerate their version delivery without paying for the noise their systems generate. Coralogix platform is used by thousands of global-leading companies including Masterclass, Monday.com, BookMyShow, Postman, and PayU.
Coralogix also announced today the launch of ‘Streama’, its real-time analytics solution. The new release challenges the cost model of observability by allowing customers to pay according to data priority instead of solely on volume. By re-engineering the Elasticsearch engine, Coralogix is able to offer queries, alerts, and ML capabilities without the use of storage.
“Over the last few years, companies have had to forgo observability due to prohibitive costs,” said Ariel Assaraf, CEO, and co-founder, Coralogix. “As a result, monitoring and log management have become increasingly difficult, not to mention it has forced companies to compromise on stability and security. By creating a real-time pipeline that analyzes and queries logs using the Elasticsearch syntax, and powering it with our ML engine, our customers can benefit from all the great visualization and alerting capabilities Elasticsearch offers without its limitations and massive storage costs.”
Already thousands of Coralogix customers, fast-growing companies, and large enterprises are seeing cost savings of up to 70 percent. “Coralogix offers more than just a best-in-class platform. Their customer service is unmatched and has proven critical to our business,” said Sheel Kapur, Director of Platform Engineering, Masterclass.
“As an organization that caters to 10 million users, Coralogix has scaled to meet our accelerated growth seamlessly and has demonstrated extreme focus on their customers’ needs,” said Shamasis Bhattacharya, Chief Software Architect, Postman.
“It was almost impossible to see the full picture before Coralogix, now we are able to get all the data cleaned up and centralized for faster response times,” said Ben Yitzhaki, Infrastructure Engineer, Monday.