Israeli cloud-native observability platform for DevOps teams Logz.io today announced the completion of a $23 million financing round led by Pitango Growth, and with participation from previous investors including General Catalyst, which led the last round. This brings to $120 million raised in total by the company including $52 million in 2019.
Logz.io said that the funds, "Will be used to further accelerate Logz.io’s growth and advance its mission to provide customers around the globe with the best-of-class open source observability tools on a unified SaaS platform."
Logz.io was founded in 2014 by CEO Tomer Levy and VP Product Asaf Yigal and has 240 employees at its Tel Aviv head office, and in Boston and London. Since May 2019, the company has hired 175 employees and today the company has 800 customers in 100 countries including Siemens and British Airways.
Logz.io’s cloud-native observability platform is based on the leading open source monitoring tools that proliferate engineering departments in favor of proprietary alternatives. The company’s platform includes four core products: Log Management built on ELK, Infrastructure Monitoring based on open source Grafana, Distributed Tracing based on Jaeger, and an ELK-based Cloud SIEM. These products are offered as a fully managed, highly integrated platform to help engineers monitor, troubleshoot and secure their distributed cloud workloads more effectively.
Levy said, "Our mission remains the same since our founding. We help modern engineering teams transform their businesses by enabling better performing infrastructure and applications."
Pitango Growth managing partner Isaac Hillel said, "We believe the prosperity of global businesses is critically reliant on their digital success and that the new generation of observability platforms, led by Logz.io, is a huge enabler for such businesses."
Published by Globes, Israel business news - en.globes.co.il - on November 24, 2020
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