Latest news with #NewViewCapital
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.
Yahoo
10 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
Time of India
10 hours ago
- Business
- Time of India
Israeli data security platform Coralogix raises $115 million
Israeli data security platform Coralogix has raised $115 million (about Rs 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo "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 . Live Events Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 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.
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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
11 hours ago
- Business
- TechCrunch
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. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW 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. Tech, Joule Capital Partners, and Maor Investments.
