Coralogix reels in $25M for its AI-infused log analytics platform
Coralogix reels in $25M for its AI-infused log analytics platform - SiliconANGLE

		
				
                        UPDATED 09:00 EST / SEPTEMBER 30 2020
                        
                    
				
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	                    Coralogix reels in $25M for its AI-infused log analytics platform					
	                
	                	                    
	                
	                              
	            
				
						Less than a year after closing a $10 million funding round, log analytics startup Coralogix Inc. today said it has raised another $25 million from a group of investors led by Red Dot Capital and O.G. Tech Partners.
San Francisco-based Coralogix provides a cloud service that organizations use to find issues in their information technology infrastructure. The service identifies problems by scanning the machine-generated logs produced by a company’s applications and other digital assets.
Analyzing logs is a challenge at large scale because millions or even billions are generated every month in an enterprise’s IT environment. Moreover, logs often use different data formats and can contain duplicate information, which requires to be extensively prepared before processing can even begin. Coralogix provides features for automating the ingestion and preparation data, plus machine learning models that filter the data to pinpoint the most relevant information about technical problems.
The service can be used to detect issues such as website performance hiccups and application errors. It also lends itself to catching security threats. Coralogix can identify the IP addresses from which network requests to a company’s systems originate and compare them against a list of known malicious IP addresses to identify dangerous traffic.
The log analytics market in which Coralogix competes is a crowded segment with several other tools that target the same use cases. One of the ways the startup has sought to set itself apart is by offering what it describes as a more fine-grained pricing model. 
Traditional log analytics solutions usually charge customers based on the volume of logs they ingest, according to Coralogix. Coralogix takes a more nuanced approach, pricing its platform so that organizations are billed less for lower-priority logs and more for higher-priority ones. It claims this arrangement can cut log processing costs by two-thirds in some cases.
Coralogix says it serves “thousands” of customers worldwide, including prominent brands such as Monday.com Ltd., KFC Corp. and Decathlon S.A.
The startup has raised just over $41 million to date including the round announced today. Besides lead investors Red Dot Capital and O.G Tech Partners, the round included the participation of returning backers Aleph VC, StageOne Ventures, Janvest Capital Partners and 2B Angels.
Image: Coralogix

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