Home Content News Logz.io Announces $23 Million Funding Round Led By Pitango Growth

Logz.io Announces $23 Million Funding Round Led By Pitango Growth

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  • The latest funding round brings the total capital raised by Logz.io to more than $120 million, including $74 million raised over the last 18 months
  • Logz.io’s cloud-native observability platform is based on the open source monitoring tools that proliferate engineering departments in favor of proprietary alternatives

Logz.io has announced a new $23 million funding round led by Pitango Growth. The new financing round, which includes participation from Logz.io’s existing investors, will be used to further accelerate Logz.io’s growth and advance its mission to provide customers around the globe with the best-of-class open source observability tools on a unified SaaS platform as per the company.

Tomer Levy, CEO and co-founder of Logz.io said, “Our mission remains the same since our founding. We help modern engineering teams transform their businesses by enabling better performing infrastructure and applications. We are excited to continue to partner with Pitango Growth and our existing investors who share our vision of how observability is the key for a successful digital business.”

The latest funding round brings the total capital raised by Logz.io to more than $120 million, including $74 million raised over the last 18 months. The company said that this amount of available capital allows the company to accelerate product development initiatives around AI and Machine Learning, expand headcount and propel go-to-market activities around the globe.

Unified, open source observability platform for log, metrics and tracing analytics

As companies accelerate their digital transformation initiatives to offset the impact of COVID-19, while building and deploying microservices and cloud native architectures to meet growing demand for digital services, they face new complexities when trying to monitor these technologies at scale. The company said that its unified, open source observability platform for log, metrics and tracing analytics responds to these challenges, supporting and enabling digital transformation and other innovative new business initiatives by making production monitoring and troubleshooting faster, easier and more cost-effective.

Isaac Hillel, managing partner at Pitango Growth said, “We believe the prosperity of global businesses is critically reliant on their digital success and that the new generation of observability platforms, led by Logz.io, are a huge enabler for such businesses. We are impressed with the leadership of Tomer, Asaf and the team, and happy to join them on this exciting journey to become a category leader.“

Four core products

Logz.io’s cloud-native observability platform is based on the open source monitoring tools that proliferate engineering departments in favor of proprietary alternatives. The company’s platform includes four core products. They are Log Management built on ELK, Infrastructure Monitoring based on open source Grafana, Distributed Tracing based on Jaeger, and an ELK-based Cloud SIEM. These products are offered as a fully managed, highly integrated platform to help engineers monitor, troubleshoot and secure their distributed cloud workloads more effectively.

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