Coralogix, an Israeli startup that offers a service for streamlining analytics, raised $142 million in a Series D financing round led by new investors Advent International and Brighton Park Capital. Coralogix has now raised $328 million to date and some estimates put its valuation at above $900 million, approaching unicorn status.
Founded in 2014, Coralogix helps software companies avoid getting lost in their log data by automatically figuring out their production problems. The company says that they machine learning powered platform turns “your cluttered log data into a meaningful set of templates and flows. View patterns and trends, and gain valuable insights to stay one step ahead at all times!”
Streaming analytics software is used to allow the monitoring and real-time analysis of integration data as it moves between applications. This is done so that users can be provided with actionable analytical insights.
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This is what is known as a DevOps tool. IBM explains that a DevOps tools approach to agile software development helps developers and operations teams build, test, deploy and monitor applications with speed, quality and control. Successful DevOps software implementations generally rely on an integrated set of solutions, or a toolchain, to remove manual steps, reduce errors, increase team agility and scale beyond small, isolated teams.
Coralogix boasts that its users typically see a 40 to 70 percent cost reduction while expanding their coverage and improving data insights via their Streama technology. The technology uses Kafka streams and independent Kubernetes services to analyze data in-stream. Coralogix uses components within the stream to store the system state and produce time-relative insights such as trend analysis, dynamic alerting, and anomaly detection with no dependence on any external datastore. All of the data is stored in the client’s S3 bucket, or any object storage, with direct query capabilities via our UI or CLI, giving the customer infinite retention.
“Our approach at Coralogix is to solve the fundamental challenges of ever-growing data volumes and system complexity. Our technology breaks the unit economics of observability to provide our customers with a cost-effective way to centralize and scale across the R&D organization. With this round of funding, we will be expanding our offering into further markets as we continue our journey to provide harmonious observability,” said Ariel Assaraf, CEO of Coralogix.