[Funding alert] Log analytics platform Coralogix raises $25M in Series B round
Summary
New investors such as Red Dot Capital Partners and OG Tech VC (backed by Eyal Ofer) co-led the round with participation from existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels. Already thousands of Coralogix customers, including leading India-based companies such as BookMyShow, Postman, Jupiter Money, and Cred, are seeing cost savings of up to 70 percent. "Coralogix gives us a highly customisable SIEM solution that addresses the very specific needs of our fintech environment," shared Jayesh Sidhwani, Vice President of Engineering, Jupiter Money. According to the company, the newly launched analytics solution challenges the cost model of observability by allowing customers to pay according to data priority instead of solely on volume. By re-engineering the Elasticsearch engine, Coralogix is able to offer queries, alerts, and its ML capabilities without the use of storage, the firm said.
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