Israel- and Mumbai-based Coralogix, provider of ML-powered log analytics and monitoring solution, on Thursday announced that it has raised a $25 million Series B funding round, bringing the company’s total amount raised to $41.2 million.
Red Dot Capital Partners and OG Tech VC (backed by Eyal Ofer), existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels participated in the funding round.
Barak Salomon of Red Dot Capital Partners and Roy Oron of OG Tech Partners will join the board of directors.
Ariel Assaraf, CEO and Co-founder, Coralogix said, “Over the last few years, companies have had to forgo observability due to prohibitive costs, 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 analyses 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.”
Shamasis Bhattacharya, Chief Software Architect, Postman said, “As an organization that caters to 10 million users, Coralogix has scaled to meet our accelerated growth seamlessly and has demonstrated extreme focus on their customers’ needs.”
The company recently established its office and operations in the region and provides local customers with local Amazon Web Services (AWS) regional server support and data storage capabilities. The funding and new analytics solution will help further establish Coralogix’s local presence and help better support its local customers.