Coralogix Raises $55 Mn In Series C Funding Led By Greenfield Partners

The company plans to expand its market footprint in India offering best-in-class localized support infrastructure to global enterprises

Coralogix Raises $55 Mn In Series C Funding Led By Greenfield Partners

You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

Israel-based provider of machine learning-powered log analytics and monitoring solutions, Coralogix, on Thursday announced it has raised $55 million in a Series C funding round led by Greenfield Partners, bringing the company’s total amount raised to $96 million.

The company aims to pursue its strategic five-year growth plan for the Indian market, whilst assisting companies with regional server support, data storage capabilities, and compliance with the country’s data privacy laws.

The latest round of funding also saw participation from Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s – O.G. Tech, Janvest Capital Partners, Maor ventures, and 2B Angels.

Previously in October 2020, the company had raised $25 million in a Series B funding round co-led by Red Dot Capital Partners and O.G. Tech VC (backed by Eyal Ofer).

Coralogix in its previous funding round had announced a strategic expansion into India with a commitment to invest over $30 million in the upcoming 5 years. The company is currently pursuing its investment goals for the Indian market. Besides, the company is also aggressively expanding its onsite team in the country to provide comprehensive sales and customer success support to India-based companies.

“India is a significant market for Coralogix packed with huge opportunities. India’s data privacy laws mandating data localization are a big stride in the current era of digital revolution across businesses and administration. We aim to assist companies to comply with the country’s data privacy laws whilst offering best-in-class localized support infrastructure. Data is the new oil, however, the exponential growth of data is preventing companies from leveraging its full potential. 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,” explained Ariel Assaraf, chief executive officer, Coralogix.

As part of its expansion plans for India, Coralogix has set up a new Amazon Web Services (AWS) Mumbai region offering superior server support and data storage capabilities to its India-based customers. The company has scaled its servers by over 1000 per cent with localized data processing reaching a rate of 100 billion events a day, offering efficient services to some of the biggest tech companies across the country. The company is also eyeing to aggressively expand its market footprint across India offering best-in-class localized support infrastructure to global enterprises.

“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, 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.”

The latest round of funding comes on the heels of a momentous year for Coralogix. In the last quarter, Coralogix experienced 250 per cent y-o-y growth and more than doubled its paying customer base to over 2000.

The company will use the new capital to extend its platform beyond observability towards a comprehensive storage-free data solution.

“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,” added Yoni Farin, chief technology officer, Coralogix.

India’s data centre industry is expected to grow to 1,007 MW by 2023 from its existing capacity of 447 MW according to a report released by global real-estate and investment firm JLL.

News Related

OTHER NEWS

The best technology and innovation podcasts in Spanish

Do you want to learn more about technology, but don’t know where to start? One of the best options, and easily accessible, is to do it through a podcast . ... Read more »

Hard-working families to be £550 worse-off this year as they're hit by 'triple whammy'

According to the think tank’s latest report, the average low-income family with children could see their income fall by over £20 a week over the next six months. This is ... Read more »

Pensioners 'retired into a very different world' - Britons urged to plan ahead now

The number of centenarians (people aged 90 and over) in the UK rose to its highest ever level in 2020, reaching 15,120 – an increase of almost a fifth from ... Read more »

Edinburgh named one of top UK cities to start a new business after climbing rankings

Edinburgh has been named as one of the top two UK cities outside of London to start a new business. © Edinburgh has climbed four places in the rankings since ... Read more »

Wise shares fall after billionaire founder fined over UK tax violation

Money transfer provider Wise’s share price has fallen after The Telegraph revealed its billionaire chief executive has been fined hundreds of thousands of pounds by HMRC for deliberately defaulting on ... Read more »

KFCC logs W208.9b in H1 net profit despite COVID-19 woes

(KFCC)The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Tuesday it has managed to post strong profits despite the COVID-19 pandemic. Under the leadership of ... Read more »

Fintech can help check digital frauds, says RBI Deputy Governor Sankar

The Reserve Bank Deputy Governor T Rabi Sankar on Tuesday said that Fintech firms can play a significant role in preventing digital frauds, which has surged during the COVID-19 pandemic ... Read more »

Billionaire founder of Wise fined hundreds of thousands of pounds over UK tax violation

The billionaire chief executive of the money transfer provider Wise has been fined hundreds of thousands of pounds by HMRC for deliberately defaulting on his taxes, The Telegraph can reveal. ... Read more »

[KH Finance Forum] Experts, policymakers discuss blueprint for S. Korea's revolutionary road toward ESG

National Pension Service Chairman and CEO Kim Yong-jin delivers a keynote speech at the Korea Herald Finance and Investment Forum at Four Seasons Hotel Seoul on Tuesday. (Park Hyun-koo/The Korea ... Read more »

[KH Finance Forum] S. Korea to promote ESG policies with support, not regulation: finance minister

Deputy Prime Minister and Finance Minister Hong Nam-ki delivers his congratulatory speech at the second Korea Herald Finance and Investment Forum in Seoul on Tuesday. (Park Hyun-koo/ The Korea Herald)South ... Read more »

Is It time For Vape Businesses To Become More Responsible?

Before opening your own business, it’s crucial to invest time into researching your chosen industry. When it comes to the vaping market, there are several rules and regulations that you’ll ... Read more »

[KH Finance Forum] ‘Integrated strategy, bold investment key to digital transformation success'

Shinhan Financial Group’s Chief Digital Officer Sunny Yi speaks during The Korea Herald Finance and Investment Forum at Four Seasons Hotel in Seoul on Tuesday. (Park Hyun-koo/ The Korea Herald)Successful ... Read more »

[KH Finance Forum] NPS looks to exercise institutional power in Korea's ESG push

National Pension Service Chairman and Chief Executive Officer Kim Yong-jin delivers a keynote speech during The Korea Herald Finance and Investment Forum held in Seoul, Tuesday. (Park Hyun-koo/The Korea Herald)The ... Read more »

[KH Finance Forum] Seoul reignites drive to become world‘s top 5 financial hub

  Seoul Mayor Oh Se-hoon speaks during the Korea Herald Finance and Investment Forum held at Four Seasons Hotel Seoul, Tuesday. The Seoul Metropolitan Government will launch its own investment ... Read more »

Data And Analytics In Healthcare: Addressing the 21st-century Challenges To Advance Public Health

Big data analytics have taken the health enterprise industry by storm, owing to its potential to develop lucrative therapeutics in a short time frame. COVID-19 and several current health situations ... Read more »

Back To School, Not Back To Normal: EdTech Shaping a New Future For Education

I’ve lost count of how many times I’ve heard the term “new normal” over the past 18 months, as many of us have tried to imagine what a post-pandemic world ... Read more »

Bitcoin news - live: BTC price tumbles as China central bank launches crackdown on cryptocurrency

LIVE – Updated at 04:47 © Getty Images/iStockphoto precio de bitcoin último 2021 today.jpg After showing signs of recovery following the announcement from China’s central bank that all crypto-related transactions ... Read more »

‘First thing to do' to tackle your credit score - mistake could affect borrowing potential

© THE MONEY FOX/GETTY Francesca the Money Fox and a credit score Money coach Francesca, aka The Money Fox, spoke with Express.co.uk about ways to improve a credit score. In ... Read more »

As China cracks down, foreign companies try to figure out where they fit in

Visitors walk on the Bund in Shanghai, China, on Friday, February 12, 2021.Qilai Shen | Bloomberg | Getty Images BEIJING — Foreign companies are trying to hold on to lucrative ... Read more »

Exports expected to rise 15% in Sept. on chips, autos: poll

This file photo, taken Sept. 9, 2021, shows stacks of containers at a port in Incheon, 40 kilometers west of Seoul. (Yonhap)South Korea’s exports are anticipated to rise 15 percent ... Read more »

William Shatner to Go to Space

Star Trek star William Shatner is headed to outer space — for real this time — according to a report from TMZ. At 90 years old, he’ll be the oldest ... Read more »

Hybrid Learning: The Future Of Education

India’s edtech industry is poised to become a $30-billion space in the next 10 years, said a report released in April this year by transaction advisory firm RBSA Advisors. According ... Read more »

Facebook Halts Creation of 'Instagram Kids'

Amid criticism of its handling of research on the effects of Instagram on children, Facebook is “pausing” the creation of “Instagram Kids.” The new program would create an Instagram experience ... Read more »

FedEx Worker Loses Job After TikTok Rant: 'I Will Not Deliver Your Sh--"

Former FedEx delivery man Vincent Paterno’s posted a TikTok rant that went viral — and resulted in him losing his job.  Robert Nickelsberg | Getty Images In the video, (in which ... Read more »

Facebook Pauses Plans for Instagram for Children

Facebook has paused its plans to create an Instagram for children under 13 after the effort drew pushback from dozens of attorneys general. Adam Mosseri, head of Instagram, said in a blog ... Read more »

Tax evasion, money laundering via shell companies set to get tougher

Using ‘shell’ companies to launder money or dodge tax will become tougher with a tribunal ruling last week shifting the ‘burden of proof’ from the income tax (I-T) department to ... Read more »

Families will need an extra £107 to cover basic bills in 'bleak winter' from October

Higher energy prices, rising food bills and a phased £20 a week cut to Universal Credit will leave families £107 a month worse off from next month. From October, the ... Read more »

Stock futures are flat as investors gauge a spike in bond yields

U.S. stock futures were steady in overnight trading Monday following a rise in bond yields that pressured growth pockets in the market. Dow Jones Industrial Average futures fell just 4 ... Read more »

'Risked it all' Not on the High Street founder recalls moment she feared 'losing home'

She said: “I could always remember it was Christmas and we were funding Not on the High Street through our credit card chequebooks at the time. “I was maybe going ... Read more »

Coinbase dives deeper into banking by letting users deposit paychecks into their accounts

Cryptocurrency exchange Coinbase is going deeper into traditional financial services, allowing users to deposit their paycheck directly into their online account. Coinbase said on Monday that U.S. users will be ... Read more »

Panic sellers during stock market dips are often married men with children

Getty Images |  filadendron Panic selling is common after stock market dips, and it's more likely to happen with certain investors, according to research from the Massachusetts Institute of Technology. ... Read more »

The 'secret ingredients' which could secure a happy later life for Britons

Financial planner Wes Moss knows a thing or two about investing, he’s just written a book called What the Happiest Retirees Know and he says it’s not all about money. ... Read more »

Remote workers may want to check their 2021 tax situation. It could be more complicated than it was last year

10'000 Hours | Getty Images If you've worked remotely at any point this year, you may want to evaluate what that could mean for your 2021 tax return. Although many ... Read more »

Wells Fargo pays $37 million to resolve Justice Department claims it defrauded currency customers

Wells Fargo signage on May 5th, 2021 in New York City.Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo paid $37 million to settle a government lawsuit accusing ... Read more »

Free health insurance for jobless workers ends this week. What you need to know

Images By Tang Ming Tung | DigitalVision | Getty Images The federal government's six-month health insurance subsidy for jobless workers through the Consolidated Omnibus Budget Reconciliation Act, or COBRA, will ... Read more »

Stocks making the biggest moves midday: Best Buy, Altice, Occidental, Moderna and more

Read more »

How to Prevent Burnout

Burnout is a common topic these days. Whether you’ve hit the wall juggling pandemic childcare while working from home or just have a general feeling of yuck about the world, ... Read more »

42% of Americans have racked up more credit card debt since Covid-19 began. These tips can help get that under control

Getty Images Covid-19 has triggered unprecedented financial challenges for many individuals and families. Now, one survey shows just where many of them are feeling the pinch — their credit card ... Read more »

Furlough warning as end of scheme set to ‘put savings to the test'

Furlough, or the Coronavirus Job Retention Scheme, has been in place for over a year, protecting the jobs of those who worked for businesses impacted by the ongoing pandemic. With ... Read more »

Shriram Housing Finance explores acquisition to grow in size

Shriram Housing Finance, a part of the Shriram Group, is scouting for acquisitions as it aims to grow about two-and-a-half times in the next two years. The company has renewed ... Read more »