Observability provider Coralogix nabs $200M investment
Coralogix Inc. today announced that it has raised $200 million in late-stage funding to enhance its observability platform.
Advent, CPPIB and Greenfield led the Series F round with participation from Brighton Park Capital. TechCrunch reported that the investment values Coralogix at $1.6 billion. The cash infusion follows a year in which the company’s revenue grew by more than 60%.
Coralogix provides a cloud-based observability platform that ingests more than eight petabytes of data per day for more than 5,000 customers. The software collects telemetry from applications, cloud instances and a range of other technology assets. It turns the data into visualization that engineers can use to troubleshoot technical issues in their companies’ infrastructure.
Large datasets usually have to go through a process called indexing before processing can begin. The workflow produces an index, a collection of shortcuts that significantly speed up queries. However, the speedup only materializes once the index is assembled, which can take a significant amount of time. That means companies have to wait before they can start analyzing their telemetry.
