Coralogix, a company using streaming analytics to rebuild the path to observability, today announced it has raised a $142 million Series D funding round, bringing the company’s total amount raised to $238 million.
A significant portion of the proceeds from the round will be used for the company’s expansion plans, especially its India and APAC go-to-market teams. Additionally the funds will also be used to accelerate the build-out and go-to-market of Snowbit, its recently announced cybersecurity venture being constructed out of India and Israel, it said in a press statement.
New investors Advent International and Brighton Park Capital co-led the round with participation from Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments.
In connection with the funding round, Alek Ferro of Advent and Mike Gregoire, Partner at Brighton Park Capital and former CEO at CA Technologies, have joined the Coralogix board of directors, the statement added.
Ariel Assaraf, CEO of Coralogix, said, “With this round of funding, we will be expanding our offering into further markets as we continue our journey to provide harmonious observability."
Alek Ferro, Director at Advent, said, “We are confident that Coralogix’s unique data streaming architecture and analytics pipeline will continue to transform the category through its ability to provide superior monitoring coverage, insights, and results while yielding significant cost savings.”
"Monitoring the applications that now orchestrate much of our economy is a critical piece of the modern software world, and Coralogix's technology enables its customers to do this at a massive scale without incurring excessive costs or compromising performance or functionality," said Mike Gregoire, Partner at Brighton Park Capital.
“We will also significantly increase our investment in the buildout of Snowbit, our cybersecurity venture, given the strong interest we have seen in its ability to proactively monitor the entire cloud environment's security and compliance,” said Navdeep Manaktala, Co-Founder, Snowbit and President, APAC at Coralogix.