Wednesday, September 22, 2021

Israeli startup Coralogix raises $25 million in Series B funding

Israel-based startup Coralogix which deals in machine learning-powered log analytics and monitoring solution has raised $25 million in Series B funding round, bringing the company’s total amount raised to $41.2 million.

New investors such as Red Dot Capital Partners and O.G. VC (backed by Eyal Ofer) and co-led the round with participation from existing investors Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels. Barak Salomon of Red Dot Capital partners and Roy Oron of O.G. Tech Partners will join the board of directors.

Coralogix also announced the launch of its real-time analytics solution. The announcement comes on the heels of Coralogix’s recent expansion into India. 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, said the company.

Over the last few years, companies have had to forgo observability due to prohibitive costs,” said Ariel Assaraf, CEO and co-founder, Coralogix. “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.”

Coralogix customers in India include BookMyShow, Postman, Jupiter Money and CRED.

“We’ve integrated the Coralogix webhooks with our Kubernetes deployments to automatically tag new versions as they’re deployed,” Pranav Kapoor, DevOps Lead, BookMyShow. “I love that I can archive logs to an S3 bucket for later retrieval without affecting the daily quota” he added.


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