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Announcing our $55M Series C Round Funding to further our storage-less data vision

  • Coralogix
  • July 29, 2021
series c blog post cover

It’s been an exciting year here at Coralogix. We welcomed our 2,000th customer (more than doubling our customer base) and almost tripled our revenue. We also announced our Series B Funding and started to scale our R&D teams and go-to-market strategy.

Most exciting, though, was last September when we launched Streamaⓒ – our stateful streaming analytics pipeline.

And the excitement continues! We just raised $55 million for our Series C Funding to support the expansion of our stateful streaming analytics platform and further our storage-less vision.

Streamaⓒ technology

Streamaⓒ technology allows us to analyze your logs, metrics, and security traffic in real-time and provide long-term trend analysis without storing any of the data. 

The initial idea behind Streamaⓒ was to support our TCO Optimizer feature which enables our customers to define how the data is routed and stored according to use case and importance.

“We started with 3 very big international clients spending half a million dollars a year for our service, and we reduced that to less than $200,000. So, we created massive savings, and that allowed them to scale,” CEO Ariel Assaraf explains. “Because they already had that budget, they could stop thinking about whether or not to connect new data. They just pour in a lot more data and get better observability.”

Then we saw that the potential of Streama goes far beyond simply reducing costs. We are addressing all of the major challenges brought by the explosive growth of data. When costs are reduced, scale and coverage are more attainable. Plus, Streamaⓒ is only dependent on CPU and automatically scales up and down to match your requirements so we can deliver top-tier performance in the most demanding environments.

What’s next for Coralogix

Moving forward, our goal is to advance our storage-less vision and use Streamaⓒ as the foundation for what we call the data-less data platform.

There are two sides to this vision. On the one hand, we have our analytics pipeline which is providing all of the real-time and long-term insights that you need to monitor your applications and systems without storing the data. On the other hand, we’re providing power query capabilities for archived data that hasn’t ever been indexed.  

So, imagine a world where you can send all of your data for analysis without thinking about quotas, without thinking about retention, without thinking about throttling. Get best-in-class analytics with long-term trends and be able to query all the data from your own storage, without any issues of privacy or compliance.

With this new round of funding, we’re planning to aggressively scale our R&D teams and expand our platform to support the future of data.

Thank you to our investors!

We’re proud to partner with Greenfield Partners, who led this round, along with support from our existing investors at Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s – O.G. Tech, Janvest Capital Partners, Maor ventures, and 2B Angels.

We have a lot of ambitious goals that we expect to meet in the next few quarters, and this funding will help us get there even faster.

Learn more about Coralogix: https://coralogix.com/

Stateful streaming analytics for observability data