Israeli data analytics co Coralogix raises $142m

• Author: Ofir Dor
• Published date: 01 June 2022
• Publication title: Globes (Rishon LeZion, Israel)

New investors Advent International and Brighton Park Capital co-led the round with participation from Revaia Ventures and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer's O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments. Alek Ferro of Advent and Mike Gregoire of Brighton Park have joined the Coralogix board of directors

Coralogix was founded in 2014 by CEO Ariel Assaref and CTO Yoni Farin and has 180 employees in Tel Aviv and San Francisco.

Until recently such large financing rounds were standard but following the sharp falls in share prices of tech companies on Wall Street, some startups are struggling to raise large amounts at the valuations they seek. Nevertheless, Assaraf said that raising the money was not especially difficult and it took one month before the memorandum of understanding was signed and another month until the final closing.

With the funds from this round, Coralogix will develop its product, and R&D teams within the Americas, EMEA, UK, and APAC. Coralogix will continue evolving from a best-in-class log analytics platform to a full-stack observability platform with robust capabilities for metrics, tracing, and security data, in addition to logs. With data volumes and costs growing exponentially and coverage options becoming more limited, having all data insights in a centralized platform is critical for DevOps, Engineering, and Security teams.

The company's flagship Streama technology enables real-time insights and alerting for all observability data with no reliance on storage or indexing. In...