Coralogix today announced it has raised $55 million in a Series C funding round, bringing the company’s total amount raised to $96 million. New investor Greenfield Partners led the round with participation from Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s – O.G. Tech, Janvest Capital Partners, Maor Investments, and 2B Angels.
Coralogix is the leading stateful streaming data platform for modern engineering teams. The company’s Streama© technology produces insights and trend analysis with no reliance on storage or indexing, solving the challenge of data growth in large-scale systems.
“The exponential growth of data is preventing companies from achieving full coverage,” said Ariel Assaraf, CEO of Coralogix. “We address this challenge through our stateful streaming analytics technology, which enables our users to decide how their data goes through our processing pipelines, enabling storage-free insights.”
This round comes on the heels of a momentous year for Coralogix. In the last quarter, Coralogix almost tripled in YoY growth and more than doubled its paying customer base to over 2000. The company will use the new capital to extend their platform beyond observability towards a comprehensive storage-free data solution.
“The dramatic shift in digital transformation is generating an explosion of data, which until now has forced enterprises to decide between cost and coverage,” said Shay Grinfeld, Managing Partner at Greenfield Partners. “Coralogix’s real-time streaming analytics pipeline employs proprietary algorithms to break this tradeoff and generate significant cost savings. Coralogix has built a customer roster that comprises some of the largest and most innovative companies in the world. We’re thrilled to partner with Ariel and the Coralogix team on their journey to reinvent the future of data observability.”
Yoni Farin, Coralogix CTO, adds, “Our mission is to make raw data obsolete. This round of funding will help us further our storage-free vision, supporting the exponential nature of software.”