Israeli predictive ELK (Elasticsearch, Logstash and Kibana) log analytics cloud service company Logz.io has raised $8 million in financing led by 83North (formerly Greylock IL) and Giza Venture Capital. The company will use the investment to finance product development and build sales, marketing, and support teams.
Logz.io provides an open source based alternative to its many competitors whose products are based on proprietary technologies. Incumbents in the market include solutions such as Splunk, Sumo Logic, and dozens of others. In contrast, the Logz.io platform takes the open source ELK, a stack extensively used by companies such as Google, Facebook, Netflix and many others, and offers it as a full-featured, enterprise-grade log analytics cloud service, coupled with advanced machine-learning techniques.
With offices in New York and Tel Aviv, Logz.io was founded by CEO Tomer Levy and VP product Asaf Yigal. The technologies deployed by the company are similar to those used in Israeli naval warfare.
Levy said, “With the Logz.io cloud platform, companies get access to a holistic ELK solution with simple setup, seamless scalability, enterprise-grade features, and strict security standards allowing them to enjoy the power of the open-source community while relying on an enterprise-grade cloud service. Adding to the latest innovations in log analytics, the platform employs machine-learning algorithms that surface critical log events before they impact operations, providing users with unprecedented operational visibility into their systems and applications.”
The company has already experienced pre-launch success with hundreds of companies worldwide using the platform over the last few months. Existing users include Playbuzz, Asurion/Soluto, BigPanda, Mirakl and Applicaster.
83North partner Erez Ofer said, “The world of Big Data and analytics is dominated by open-source software. The Logz.io platform enables customers to gain immediate access to an enterprise-grade, open source service, instead of building complex logging systems and eyeballing mountains of log data."
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2015
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