- Funds to be used to scale sales and marketing solutions
- New ML-powered security information and event management solution (SIEM) to be launched
- Matt Handler of Sumo Logic to join Coralogix
Coralogix, provider of the leading ML-powered log analytics solution, announced it has raised a $10 million Series A funding round, bringing the company’s total amount raised to $16.2 million.
New investor Aleph led the round with participation from StageOne Ventures, JANVEST Capital Partners, and 2B Angels. The new capital will be used to scale sales and marketing and accelerate product innovation for Coralogix’s best-in-class log analytics platform.
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This announcement also includes a notable board appointment. Matt Handler, former VP of Sales and Channel at Sumo Logic, will join the Coralogix board of directors.
Officially Enters into Cybersecurity Market
Coralogix is also announcing today they are officially entering the cybersecurity market with the launch of an integrated security information and event management solution (SIEM) and intrusion detection system (IDS) specifically designed for DevOps teams. Leveraging the latest in machine learning, the new solution gives companies a multidimensional view of their cloud and on-premise security data. The combined solution enables DevOps teams to tap into their server, audit, VPC Flow Logs, and CloudTrail logs to monitor and analyze their security events. It then leverages the company’s new security service for security anomaly detection within network packets to detect and eradicate any potential threats.
“What impressed us most about Coralogix is the cult following they’ve earned from the developer community. Engineers are fanatic about this product and are spreading its value by word of mouth, leading to remarkable sales momentum,” said Aaron Rosenson, General Partner at Aleph.
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“We look forward to supporting the company as they execute their ambitious plan to scale the company and product globally. They are a young company, yet they serve several Fortune 500 enterprises and thousands of leading companies including, Postman, Monday, Fiverr, KFC and Caesars Palace. We look forward to playing a role in the company’s continued growth,” Aleph added.
Founded in 2015 by data and security experts from the Israeli Intelligence Corps, Coralogix uses cutting-edge algorithms to autonomously manage and analyze log data in cloud applications. Using Coralogix, engineers can instantly narrow down hundreds of millions of logs to suspected logs, broken flows, error trends, and problematic version upgrades.
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