Israeli log insight company Coralogix today announced it has raised a $25 million Series B financing round co-led by Red Dot Capital partners and O.G. Tech VC (backed by Eyal Ofer) and with participation from existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels. This brings to $41.2 million the amount raised by the company.
The new funds will be used to expand the company’s engineering team, global operations and further develop the company's platform.
Coralogix was founded by CEO Ariel Assaraf and CTO Yoni Farin.
Farin said, "We’ve experienced significant market traction this year as companies seek modern ways to manage and analyze their logs. We’ve added over 500 customers just in the last 6 months, and that’s just scratching the surface. To sustain this growth, we’ve set ambitious plans to grow our engineering team so we can meet the high standards of quality our customers have come to expect from our product."
Coralogix also announced today the launch of ‘Streama’, its real-time analytics solution for log insights, which the company claims challenges the cost model of observability by allowing customers to pay according to data priority instead of solely on volume.
Published by Globes, Israel business news - en.globes.co.il - on September 30, 2020
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