Latest news with #Coralogix
Entrepreneur
16 hours ago
- Business
- Entrepreneur
Coralogix Raises USD 115 Mn In Series E from NewView Capital and Others
The company plans to use this investment to expand its Gurgaon AI R&D hub, grow engineering and customer-facing teams in Bengaluru and Mumbai, and create hundreds of high-skill tech jobs in roles such as AI, data science, and cloud security. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Israel-based cybersecurity and observability company Coralogix has raised USD 115 million in a Series E funding round led by NewView Capital, with participation from Canada Pension Plan Investment Board and NextEquity. Existing backers including Advent International, Brighton Park Capital, and Red Dot Capital Partners also joined, bringing Coralogix's valuation to over USD 1 billion. A major portion of the newly secured funds will be deployed in India, one of Coralogix's top three global markets. The company plans to use this investment to expand its Gurgaon AI R&D hub, grow engineering and customer-facing teams in Bengaluru and Mumbai, and create hundreds of high-skill tech jobs in roles such as AI, data science, and cloud security. "India plays a strategic role in Coralogix's global roadmap," said Ariel Assaraf, CEO and Co-founder of Coralogix. "With this round, we aim to expand our Indian presence significantly, including building cutting-edge AI capabilities, deepening partnerships, and creating additional high-value tech jobs." Founded in 2015 by Ariel Assaraf and others, Coralogix offers a full-stack observability and security platform. Its services include log analytics, APM, SIEM, real user monitoring, and infrastructure monitoring, enabling real-time visibility into performance, security, and governance without indexing delays. The platform is known for its data-volume-based pricing and strong enterprise support. Coralogix already works with major Indian firms such as Postman, Razorpay, BookMyShow, Delhivery, and Meesho, helping them enhance incident response, ensure compliance, and harness AI observability. The company is also strengthening partnerships with cloud providers in India and enhancing its local AWS infrastructure in Mumbai for better data compliance and performance, particularly in regulated sectors like finance and healthcare. This announcement follows Coralogix's December 2024 acquisition of Aporia, a leader in AI guardrails and observability, and the launch of the Coralogix AI Center, which provides performance, security, and governance insights for enterprise AI systems. "This round validates our momentum and helps us push the boundaries of AI-driven observability," said CTO Yoni Farin. Navdeep, Co-founder of Snowbit and President, APAC at Coralogix, added, "We are excited to harness India's engineering excellence to help shape the future of AI-powered observability and security."
Yahoo
a day ago
- Business
- Yahoo
Observability startup Coralogix becomes a unicorn, eyes India expansion
Coralogix, an Israeli startup offering a full-stack observability and security platform, has raised $115 million at a pre-money valuation of over $1 billion, almost doubling in three years from its last round in 2022. With the influx of cash, the startup is looking to expand its engineering base in India and develop its AI agent. The all-equity and all-primary Series E round is led by California-based venture growth firm NewView Capital, with participation from the Canada Pension Plan Investment Board and NextEquity, the venture firm founded by former Apple executives Avie Tevanian and Fred Anderson. Data observability has become increasingly important nowadays as more companies store and leverage data to capitalize on the benefits of AI. However, not everyone in a company has the time or resources to thoroughly investigate an issue or make an important decision based on their data stream. Coralogix aims to solve this challenge with its AI observability agent, Olly. The agent utilizes a semantic layer that incorporates internal data, including metadata, along with external sources, such as information available on the internet, to assist companies in understanding complex issues, such as identifying the causes of slow service or resolving the most common system errors, by using simple text prompts. Trained to answer broader questions than just what is going wrong, the AI agent can help customers if they want to know which feature is causing customers the most frustration, how much these customers are paying, or who their account representative is that can work with them, Coralogix co-founder and CEO Ariel Assaraf said in an interview. Olly includes features such as anomaly detection, access monitoring, and real-time alerts to automate data observability for customers. It was developed by Coralogix's AI research center, which it now aims to expand through its new capital. Alongside its AI agent, Coralogix provides observability and guardrails to AI companies, offering them insights into the performance of their models, as well as the quality, security, and governance of their responses. All this came through Aporia's acquisition in December 2024. 'There's an opportunity for us, given our architecture of analyzing stream query from remote, lower costs. We're going to invest a lot there and build out the AI research center bigger,' Assaraf said. The startup plans to leverage India's engineering base for its AI ambitions, aiming to invest about $100 million in the country over the next five years. The investment is planned to expand its office in Gurugram and hire more staff in Bengaluru and Mumbai to build engineering, R&D, and customer success teams. Of its overall headcount of nearly 550 employees, Coralogix has about 250 people in Israel and 100 in India. It plans to double the Indian employee base over the next three years. 'Because we see just a really good fit between the Israeli engineering culture and Indian engineering culture, it's a get-it-done, very independent, very committed to the mission type of engineering that we see a very good fit for us to expand into,' Assaraf told TechCrunch. The South Asian market is also the startup's second-largest market in terms of revenue and user base, with over 100 customers, after the U.S., the executive said. Indian companies such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, and Razorpay are among Coralogix's customers. It also serves banks and enterprises and is looking to tap the Indian government as its next big client. Furthermore, the startup is eyeing the acquisition of Indian startups to expand its footprint in the country. 'We have spoken to quite a few Indian companies about the potential M&A, but nothing has really been fulfilled. It could be a very good and easy way for us to get a strong core team as we think about expanding our engineering,' Assaraf told TechCrunch. In June 2022, Coralogix raised $142 million in a Series D round co-led by Advent International and Brighton Park Capital. Since then, Assaraf said the startup has seen 7x growth in its revenues, although it's not yet profitable. The startup, which views Datadog as its key competitor, aims to file for a U.S. IPO on Nasdaq in three years. 'Our goal is we build this new way of architecture, analyzing stream query from remote, this new way of customer engagement, these new geographies that we're invested in now, also this new AI experience, how you monitor AI and how you use AI to monitor,' Assaraf said. After it can show progress on these fronts, it will explore an IPO, he added. The latest round also saw participation from Coralogix's existing investors, including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Venture Partners, Joule Capital Partners, and Maor Investments. Sign in to access your portfolio
Forbes
a day ago
- Business
- Forbes
Who's Observing The Observers—Cleaning Up The AI Mess In Aisle Seven
Today's news, that Coralogix closed a $115M funding round at a $1B valuation to disrupt observability with agentic AI, made we wonder — shouldn't C-Suite Leaders know who is observing the observers? For some, it's been exciting to watch AI progress at lightning speed over the past few years. For others, the pace is exhausting, including those covering it, enterprises aiming to put it to productive work, and vendors striving to develop the tech or integrate it into their stacks. Investors have been pouring in money at an impressive rate. A Crunchbase report documented the rise in startup funding last year which was dominated by investments in AI. According to their data: 'Close to a third of all global venture funding went to companies in AI-related fields, making artificial intelligence the leading sector for funding. Funding to AI-related companies reached over $100B — up more than 80% year over year from $55.6B in 2023.' About a third of this went to foundation model companies. The rest flowed to related sectors like IT infrastructure needed to run AI, and those segments that rely on AI: autonomous vehicles, healthcare, robotics, etc. Want details? Stanford University reported that GenAI funding soared in 2024. Look for these numbers to jump again, with a continued march of funding rounds and M&A deals ahead. These trends are probably not surprising. After all, even though the category has seen strong investments over the last ten years, close to $.5T, AI innovation presents a major inflection that is having a ripple effect across most all sectors. And GenAI and LLMs are the poster kids for the leaps we are seeing. But news from IT observability vendor Coralogix, about a $115M E Round at +$1B valuation, showed that some smart money is finding its way to the technology needed to manage the mess we are creating. Yes, there can be some delight at the nexus of the less sexy areas of IT performance and AI safety - both of which are linchpins to further maturation and adoption of AI in the enterprise. Why Observing The Observers Really Matters The news relates to an area of IT that some may not be familiar with; so, I'll explain. Observability is the ability to understand the state of a system by examining the data it generates. The tech emerged from the software engineering and network monitoring worlds, as a response to the challenges of managing increasingly complex environments driven by the growth of cloud and distributed computing. Basically, what it does is hoover in all the data 'exhaust fumes' generated by logs, metrics and traces, to make better sense of what is happening and help site reliability engineers (SREs) reduce outages and improve system health and reliability. The technology has evolved to take on more tasks, including application performance monitoring and security - encroaching on these spaces and sometimes integrating with the technologies. Today, IT observability is a dynamic, highly competitive, and rapidly growing segment of enterprise IT. According to Gartner, the market is expanding at a compound annual growth rate (CAGR) of over 15%, with projections placing its total size at around $11.2 billion by 2026 I said that its evolution is a result of growing IT complexity and that AI adds an inflection, and some would argue, more complexity to the enterprise. At the same time, we all know that AI can help in managing things and drive better understanding of complex issues. What happens when AI meets observability? Taking On The Big Dogs Of Observability This brings us to today's news, which is a shot across the bow by Coralogix against the big dogs, not just metaphorically but also literally: e.g., Datadog, Dynatrace, New Relic, AppDynamics, Splunk and Acceldata. These vendors help manage AI and use some form of it (e.g., machine learning or LLMs) in their stacks. They are also bullish about combining AI and observability. For example, on recent earning calls, Datadog CEO Josh Pomel said, "We continue to see rising customer [demand] It seems Coralogix is taking a more aggressive approach. The company acquired AI observability provider Aporia last year, which resulted in the launch of their AI Center; the first solution to treat AI as a separate observability stack. Their AI Center helps manage not only AI performance, as some others do, but also its content, enabling businesses to detect hallucinations, toxicity, prompt injection (yeah that's a thing), and more. Now, Coralogix has secured a major investment that should fuel its drive to disrupt the space with the first AI agent that extends observability value across the enterprise. Why is this significant to C-Suite Leaders? First, from a sheer numbers PoV, it is a big round. While not the largest in AI by any stretch, it is an impressive amount for an up-and-comer that is not aiming to move mountains in the capital-intensive LLM and chips arenas. I spoke with Coralogix CEO Ariel Assaraf about the news and their current status. He did not provide hard revenue numbers but said that the company has achieved impressive 72% YoY growth for the last three years. Customers include well-known logos like Adobe Systems, Ferrari and DoorDash. This round was led by CA-based venture growth firm NewView Capital. Ariel shared that all existing investors including Advent International, Brighton Park Capital, Revaia, and Greenfield Partners, returned to support Coralogix's continued growth and launch into agentic AI observability. 'Decoder Ring' Knocks Down Tower Of Babel Separating Business And IT Interestingly, they issued a second and related announcement at the same time: 'Coralogix Unveils Industry's First AI Agent That Extends Observability Value Across the Enterprise.' When I asked Ariel Assaraf to connect the dots; he said: "We have this unique architecture that allows teams to ingest more data, analyze the data in-stream, and make informed decisions for optimization. Traditional observability is super-expensive and doesn't scale; we fixed that. Now we're adding agentic AI, and people can make informed decisions across business units without being experts." He further explained: "AI introduces new challenges around data security, accuracy, and scale, demanding a new approach. Agentic AI can enable smarter observability that minimizes manual effort and makes it easier for teams to surface and act on insights from their data.' According to the press release, their agent, called 'Olly,' is an agentic AI that transcends the more typical event alerts observability platforms generate to answer questions and provide guidance. This sounds like they are tackling the disconnect that can occur between the business and IT sides. It's the old business and IT alignment challenge that has yet to be solved. One of the biggest barriers is the translation gap — non-technical stakeholders can't easily understand 'geek speak' or explore how backend systems impact business outcomes. With Olly, both technical and non-technical users can ask questions in plain English, from 'What is wrong with the payment flow?' or 'Why do some users struggle with logging in?' to more holistic questions like 'Which service is frustrating our users the most?' In short, democratizing insights available from observability, to better connect IT performance and drive smarter outcomes, is what enterprises need now. As AI-enabled observability becomes more mainstream in the enterprise, look for impacts across the organization — from frontline performers to boardroom risk mitigators. Like other tech trends I've unpacked, which are critical for the next generation of C-Suiters to lead their organizations, keep an eye on the observers to help you better align the tech and business goals — and hopefully boost results across your enterprise.
Time of India
a day ago
- Business
- Time of India
Israeli data security platform Coralogix raises $115 million
Israeli data security platform Coralogix has raised $115 million (about ₹992 crore) in a series E funding round led by NewView Capital and plans to deploy a significant chunk of the capital in India. The company plans to increase its market share, especially in compliance-intensive and fast-scaling sectors like BFSI, IT & Telecom, Logistics, and EdTech, a company statement said. "A significant portion of this capital will be deployed in India, which stands among its top three markets globally. "As part of this investment, Coralogix will significantly expand its office in Gurugram, and also accelerate hiring in Bengaluru and Mumbai towards actively building out engineering, R&D, and customer success teams. Over the next five years, the company expects to create hundreds of high-value tech jobs in roles such as AI and data science, cloud security, customer engineering, and enterprise sales," it said. Coralogix's Indian portfolio includes customers such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, Razorpay and Delhivery . The funding round, which values the Tel Aviv-headquartered firm at over USD 1 billion, also saw participation from the Canada Pension Plan Investment Board (CPPIB) and NextEquity.
CTV News
a day ago
- Business
- CTV News
Data analytics startup Coralogix doubles valuation to over US$1 billion in latest funding round
In this stock photo, a person is seen typing on a computer keyboard. (Pexels) Data analytics platform Coralogix nearly doubled its valuation to over US$1 billion in its latest funding round, co-founder and CEO Ariel Assaraf told Reuters in an interview, as artificial intelligence-driven enterprise offerings continue to pique investor delight. Coralogix raised US$115 million in a round led by California-based venture growth firm NewView Capital, the startup said on Tuesday. Canada Pension Plan Investment Board (CPPIB) and venture firm NextEquity also participated in the round. The fundraise comes three years after Coralogix's previous external funding in 2022, where it raised US$142 million. Valuations have faced downward pressure since then, as investors continue to sit on dry powder amid elevated interest rates and geopolitical tensions. Enterprise software-as-a-service startups, however, have endured a wider slowdown in venture capital funding, with an AI gold-rush pushing SaaS financing to record US$58 billion in the first quarter, according to PitchBook. Coralogix's revenue increased seven times since 2022, Assaraf told Reuters. The company, however, is yet to be profitable, with nearly 75 per cent of its revenue in 2024 going towards research and development, according to Assaraf. 'Successful companies in our space always invest a large portion of their revenue in R&D and were very late to become profitable,' Assaraf added, noting a similar pathway across peers Datadog and Splunk. Startups are integrating AI-driven agents across IT development and operations as enterprises increasingly ask for all-in-one platforms to oversee their entire cloud infrastructure and processes. Coralogix expanded into AI observability with the acquisition of Aporia in December 2024. The company is aggressively looking to expand its AI talent pool, Assaraf said. 'If there's a strategic acquisition of a company with a specific, very talented pool of people around AI, we will make those acquisitions, even if they're not small,' he told Reuters. On Tuesday, Coralogix also unveiled its new AI agent 'olly,' aiming to simplify data monitoring via a conversational platform. Industry leaders have hailed AI-based agents as a transformative use case of the technology. --- Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Alan Barona.
