Latest news with #Coralogix
Forbes
6 hours 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
6 hours 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
8 hours 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.
Mint
10 hours ago
- Business
- Mint
Israeli startup Coralogix to invest bulk of $115 million fundraise in India
Israeli data analytics startup Coralogix will be deploying most of its fresh fundraise of $115 million in India as it looks to deepen its presence in the country, according to the company's India head. 'We're going to ramp up the engineering R&D team here in India, including a large number of positions relating to artificial intelligence and data science,' Navdeep Manaktala, India head at Coralogix, told Mint in an interview. India is one of the company's top three markets, the other two being the US and Europe. Coralogix, which also runs a cybersecurity business, on Tuesday announced its Series E fundraising round led by California-based NewView Capital and NextEquity Partners with participation from the Canada Pension Plan Investment Board (also known as CPP Investments). The company's post-money valuation stands at over $1 billion, making it a unicorn startup. Prior to the latest fundraise, the company had raised a $142 million Series-D round in 2022, led by Advent International and Brighton Park Capital. Coralogix plans to increase the size of its India head office in Gurgaon, set up an office in Bengaluru, and expand teams across sales, customer service, and custom engineering functions in the country. The company currently has 150 employees in India, out of 370 globally, catering especially to customers in the banking, financial services and insurance (BFSI), edtech, information technology, and logistics sectors. 'A change we've seen in the last 6-12 months is that we are seeing a lot more enterprise customers coming on board,' said Manaktala. A large chunk of Coralogix's India revenue comes from non-banking financial companies and financial technology startups. The company recently also added banks in India to its client list. Manaktala declined to disclose the banks or specify how much the BFSI sector contributes to the company's overall India revenue. When Coralogix entered India in 2020 it pledged to deploy $30 million over a five-year period to meet local data compliance laws. It set up its first Amazon Web Services server in Mumbai to help companies with regional server support and data storage capabilities. As part of deepening its presence in India, Coralogix plans to 'significantly' expand its cyber security offerings in the country. Coralogix's cyber security arm, SnowBit, which was launched in 2022, has its global hub based out of India. 'We are seeing an increasing contribution with respect to cybersecurity to the overall business,' said Manaktala, but declined to share how much the business contributes to the company's overall revenue. In the last two years, the company has seen heightened interest from both enterprise users and startups for its cybersecurity services. While the company's core R&D for cybersecurity continues to be developed in Israel, Coralogix made an active decision to expand into India on account of the growing market here. 'Given these facts, and that (India has) a lot of available talent here, a large customer base which is very demanding in terms of their specific requirements and the fact that we've got a lot of inputs from them regarding product adaptation and enhancement, we decided to have a large R&D center out of India too,' said Manaktala. Coralogix's increased focus on its cybersecurity business in India comes at a time when companies across the board are struggling to keep up with new digital threats with advances in artificial intelligence disrupting the playing field. In India alone, companies are expected to spend $3.3 billion this year on network security, security services, and security software, a 16.4% increase from 2024, according to a Gartner forecast.
Yahoo
11 hours ago
- Business
- Yahoo
Data analytics startup Coralogix doubles valuation to over $1 billion in latest funding round
By Arasu Kannagi Basil and Ateev Bhandari (Reuters) -Data analytics platform Coralogix nearly doubled its valuation to over $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 $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 $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 $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% 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. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
