On Thursday, Israel and Mumbai based log analytics and monitoring solution startup, Coralogix (1) announced that it had secured 25 million USD. The latest funds are part of its Series B funding round. With recent developments, the company has raised 41.2 million USD in total.
New investors, including Red Dot Capital Partners and OG Tech VC, led the current round. Coralogix also observed participation from existing investors such as Aleph VC, Janvest Capital Partners, StageOne Ventures, and 2B Angels. Consequently, Red Dot Capital Partners’ Barak Salomon and OG Tech Partner’s Roy Oron will join the directors’ board.
While announcing the fundraise, the firm also stated the launch of its real-time analytics solution. Notably, Coralogix recently established its working space and operation in the region. The company would provide local customers with local AWS, Amazon Web Services regional support for the server, and data storage capabilities.
With the latest infusions and new analytics solutions, the company aims to establish its local presence and provide better support to its customers.
Coralogix to Offer Real-time Analytics Solutions
Ariel Assaraf, the CEO, and Co-founder of Coralogix, stated that companies were compromising observability for several years because of its costs. As a result, it was tough to manage and monitor logs while also forcing companies to arbitrate their stability and security.
Assaraf added that Coralogix had created a real-time pipeline. It analyses and logs query via the Elasticsearch syntax. After integrating it with their ML engine, customers can now benefit from its great visualization and alerting capabilities with no massive storage expenses.
Coralogix has thousands of customers, including some of India’s leading companies, such as BookMyShow, Jupiter Money, Cred, Postman. These companies are observing a cost savings of about 70%.
As per the firm, its new analytics solution is challenging the observability cost model. It allows customers to pay based on the priority of data instead of volume. Via Elasticsearch engine re-engineering, Coralogix can now offer alerts, queries, and ML capabilities without using storage.