On November 28, Mountain View based startup Sumo Logic announced that it had raised $30 million in a Series C round of funding. The venture funding came from by Accel Partners and its Big Data fund that is headed by Ping Li. The newest injection of cash makes the company’s total outside funding $50.5 million thanks to previous investors including Greylock Partners and Sutter Hill Ventures.
Sumo Logic is a “next generation log management and analytics company that leverages Big Data for real-time IT insights.” The startup utilizes “cloud-based software analyze, monitor and visualize data generated by machines in real time.” Previously, system logs were considered just a lot of data that could be thrown away. However, Sumo Logic is using the ideas of Big Data and helping companies use their logs to figure out how well their IT infrastructure is running.
Sumo Logic’s major competitor is Splunk which focuses on analyzing machine-generated data. The analytics firm went public in the first part of 2012 and gave rise to another firm called Loggly which deals with log management.
Sumo Logic’s CEO Vance Loiselle spoke with All Things D sharing that, “In the last couple of years, we’ve seen more and more companies are generating tons of log data, but also all kinds of unstructured data. That could be for servers that are or are not running well, or applications that you need to know specific analytic data about its performance, what your customers are using, and what kind of performance they’re seeing.”
The server log data is used by Sumo to check patterns, see how different areas of a business are performing and see if any changes are needed. By doing all this in the cloud a company can save on buying all the resources to complete the task. The idea seems to be attracting people, with 800 companies already having tried the free service since early this year. More than 40 of those firms have signed up for the paid service including names like Netflix, Ooyala and Limelight Networks.
According to the company CEO the new funds will be used to increase staff in marketing and engineering. He added that, “We need to bring in as many high-caliber inside and outside sales people as we can because the opportunity before us is so big. First we’ll scale up in North America, and then we’ll start thinking about what we’re going to do in Europe. We’ve doubled the size of the engineering team over the last six months, and basically we have to double it again.”
Source: All Things D
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