Israel-based log analytics and monitoring solution provider Coralogix, on Thursday (October 1), announced that it has raised $25 Mn in Series B round led by Dot Capital Partners and Eyal Ofer-backed O.G Tech VC to expand its offerings in India.
Existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels also participated in this round. With this investment, Barak Salomon of Red Dot Capital partners and Roy Oron of O.G. Tech Partners will join the board of directors.
The funding comes two months after Coralogix expanded its presence in India. For the customers here, the company is also offering local Amazon Web Services (AWS) regional server support and data storage capabilities to meet the data localisation under the new data privacy laws.
The company alleged that by localising data, they also dramatically improved service performance. The company is also rolling out an onsite team to provide comprehensive sales and customer success support to India-based companies.
Commenting on its Indian expansion, Coralogix’s CEO and cofounder Ariel Assaraf, said, “With today’s strategic move, we are proactively addressing new Indian data privacy laws scheduled to take effect in 2021 by providing Coralogix customers with a solution well ahead of most of our competitors.”
Besides this, the company has also launched its real-time analytics solution today, which will also be present in India. The latest funding will be used to further establish Coralogix’s local presence and help better support its local customers.
“As a result, monitoring and log management has become increasingly difficult, not to mention it has forced companies to compromise on stability and security. By creating a real-time pipeline that analyzes and queries logs using the Elasticsearch syntax, and powering it with our ML engine, our customers can benefit from all the great visualization and alerting capabilities Elasticsearch offers without its limitations and massive storage costs,” Assaraf said.
Founded in 2013 by Assaraf and Yoni Farin, Coralogix is a log analytics platform that empowers teams to autonomously manage and analyse data in cloud applications. The platform’s machine learning engine enables users to improve their stability and accelerate their version delivery. The company claims to have 10 Mn users, and its clientele includes BookMyShow, Postman, Jupiter Money and CRED.
The post Israel-Based Coralogix Bags $25M To Expand Its Log Analytics Solutions In India appeared first on Inc42 Media.
Author: Kritti Bhalla
Date : 2020-10-01T10:04:15.000Z