Israeli log analysis co Logz.io raises $52m

Logz.io founders Photo: Fabiana Coccovi

The Tel Aviv-based company has developed a data analysis system for programmers based on open code to help them identify faults.

Israeli logging tools company Logz.io has announced that it has completed a $52 million Series D financing round led by General Catalyst Fund and with the participation of Vintage Investment, Giza Venture Capital, Next47, 83 North and others. The company has raised $100 million to date including the latest financing round.

Logz.io has developed a data analysis system for programmers based on open code. The company was founded in 2014 by CEO Tomer Levy and VP product Asaf Yigal and has 175 employees in its Tel Aviv headquarters as well as offices in Boston and London. With the new capital, the company plans to hire 100 extra employees in the coming year. Logz.io says that it has over 700 customers in a 100 countries including Oracle, British Airways, and CNN. The company does not publish its financial results but does report that it has tripled its revenue since its last financing round in 2017.

Logz.io has developed cloud based technology that can monitor real-time breakdowns and anticipate future problems and identify factors causing them. The platform is based on the ELK and Grafana open codes systems for data analysis and monitoring. Use of open does requires setting up complex systems that connect these tools to the enterprise environment.

Logz.io's platform allows organizations to apply these tools on a large scale in a large and dispersed computerized environment without having to develop their own system.

Logz.IO was represented by Advs Yair Geva and Tomer Farkash at Herzog Fox Neeman law firm, and General Catalyst was represented by Cooley law firm and Advs. Michael Heller and Magan Katzman at Goldfarb Seligman law firm.

Published by Globes, Israel business news - en.globes.co.il - on May 29, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Logz.io founders Photo: Fabiana Coccovi
Logz.io founders Photo: Fabiana Coccovi
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