Coralogix, a renowned provider of the ML-powered log analytics solutions, reportedly announced the closure of Series A funding round. The company raised $10 million in this investment round, which was led by the company’s new investor Aleph.
Additionally, JANVEST Capital Partners, 2B Angels, and StageOne Ventures also participated in the round. The novel investment brings the total raised capital of the company to $16.2 million.
The company also announced that it officially entered the cybersecurity industry through the launch of an integrated security information & event management solution (SIEM) and IDS (intrusion detection system) particularly innovated for DevOps teams.
By using the latest machine learning capabilities, the new solution offers organizations a multidimensional view of their on-premise security and cloud data. The integrated solution allows DevOps teams to look into their audit, server, CloudTrail logs and VPC Flow Logs to analyze and monitor their security events. It further leverages the organization’s new security service for security anomaly detection in network packets to recognize and remove any potential threats.
Coralogix, established in 2015 by security and data experts of the Israeli Intelligence corps, utilizes cutting-edge algorithms to autonomously analyze and manage log data in cloud applications. Using the company’s platform, engineers can immediately narrow down several millions of logs to broken flows, problematic version upgrades, error trends, and suspected logs.
General Partner at Aleph, Aaron Rosenson stated that the cult following earned by Coralogix from developer community is extremely impressive. Engineers are thrilled about this new product. They are spreading the value of the product through word of mouth, which is leading to remarkable sales growth.
Rosenson further added that the company looks forward to supporting Coralogix as it executes its ambitious strategy of scaling itself and its products across the globe. It is a young company, yet it works for Fortune 500 companies like Postman, Fiverr, Caesars Palace and KFC. Aleph looks forward to playing a vital role in the continued growth of Coralogix.
The company has offices in San Francisco, Kiev, and Tel Aviv. It currently serves 1500 customers along with some big market names. The company works only with 30 employees to date. Through the new capital, the company now aims to expand its marketing and sales teams to increase its consumer base.
Source credit: https://www.prnewswire.com/news-releases/coralogix-closes-10m-series-a-funding-round-led-by-aleph-300964254.html