Today (Wednesday), Israeli startup Coralogix, which develops a Machine-learning powered analytic platform for logs, metrics, and securities, announced the completion of a $25 million Series B funding round. The investment was led by Red Dot Capital and OG tech. The round also saw participation from the startup’s existing investors, including 2B Angels, Janvest Capital Partners, StageOne Ventures, Aleph, and Plus Ventures.
Another investment, another new product
Coralogix develops a log file analysis platform for software-based systems by integrating Machine-Learning technologies to do the “heavy lifting”. The platform receives logs 24/7 and learns the normal behavior of the system. Then the automated platform can identify software bugs, flag them in real-time, and provide customers with a bug analysis that includes only a few logs, compared to the standard millions of logs, that tend to overwhelm software engineers.
Last November, the company raised $10 million and announced that it was expanding operations into the realm of cyber-security. Coralogix launched a security information and event management system (SIEM) with an intrusion detection system (IDS) to make DevOps teams’ lives much easier. The system utilizes Machine-Learning technologies that give complete visibility on the data from the application stage, through the infrastructure, all the way to securing cloud environments.
Just like during the last round, Coralogix once again takes the advantage to launch a new product. Streama is a platform that provides real-time data analytics. CEO Ariel Assaraf Coralogix explains to Geektime that “until today, the log-centered pricing model was strictly based on quantity, meaning that the amount of data sent in a day is the only parameter defining the price. By rewriting extensive parts of Elasticsearch’s technology, our engineers developed a real-time data analytics tool, which enables costs to drop by up to 70%.”
According to Assaraf, the new product allows customers to prioritize data that is sent, by defining customized parameters and paying per data importance. This way, data that is frequently analyzed will be priced accordingly, data that is targeted for dashboards and alerts will get priced based on priority, and data that’s needed for compliance and documentation will receive a lower price.
Coralogix was founded in 2014 by Guy Kroupp, CSO Lior Redlus, CTO Yoni Farin and CEO Ariel Assaraf. The company holds offices in Israel, India, and the U.S. Coralogix states that the funds will be put towards expanding the R&D team, as well as accelerate global market expansion. To date, the company has raised $40 million.
According to Assaraf, the COVID-19 crisis really didn’t affect company operations: “Over the last six months we have experienced growth with the rest of the online market, and launched the alpha of our Streama product. Two months ago, we experienced massive growth and we are about to close the company’s best quarter in history. The ability to provide a superior product that is sometimes up to 70% cheaper than competitors fits the current landscape, and the market is just yearning for the option.”
