App log analysis service Loggly launches Generation 2
Sumo Logic competitor gets extra $10m in bank, celebrates by unveiling new UI and analysis tools.
all the things that have been moving into “the cloud” over the past
few years, intensive real-time processing of auto-generated data
surely makes the most sense. Loggly is one of many companies
providing cloud-based log management services, but despite its
youth, its already making waves.
The two-year-old startup, which sports a beanie-clad cartoon
beaver as its mascot, this week announced the closing of a $10m
funding round. It also took the opportunity to release a
“Generation 2” service with a refreshed UI, additional tools
for drilling through datasets, and a “dramatically simplified” log
Loggly’s highest-profile client to date is Obama for America,
the campaign team behind President Obama’s successful re-election,
who used the service to track the performance of their
considerable IT operations. In fact, OFA CTO Harper Reed has
publicly spoken about his fondness for the service, providing the
lead testimonial on Loggly’s site.
That’s not all: the company now claims to have grown an
impressive 500% over the past twelve months, and now boasts more
than 3,500 paying customers. It’s no wonder, then, that the
two-year-old company has attracted the attention of Silicon
Valley’s investment crowd.
The current funding round sees an investment of $10.5 million in
new capital from Trinity Ventures, True Ventures and Matrix
Partners, as well as new investors Data Collective and Cisco.
Together, the five VCs topped up total venture financing to $20.9
Trinity has previously invested in another data-crunching tool,
application lifecycle management software New Relic. However, the
more direct competitors are Sumo Logic and Splunk, which both also
have cloud-based products (although Splunk is tied in part to its
older desktop software).
Both are formidable foes for Loggly with considerably more cash
in the bank. Sumo Logic has raised over $50m in VC funding, and
Splunk is a publicly traded company – so it remains to be seen if
upstart Loggly can prevent its growth from being stunted.