Tel Aviv-based startup Logz.io just pinned down a new $16 million Series B funding round, the company announced Tuesday, led by OpenView. Before this round, they had raised a $6.7 million Series A funding round led by 83North in October last year and a $1.2 million seed from Giza Venture Capital in February eight months prior to that. Both firms joined this round.
The company went into business in 2014 and released its ELK cloud service in October 2015. Logz.io says it is combining the ELK stack — Elasticsearch, Logstash, and Kibana, an open-source analytics platform developed by Elastic — with machine learning. Logz.io released an AI-powered platform called Cognitive Insights in August this year that combines manual DevOps with machine learning to go over log data. Logz.io Co-founders Tomer Levy (CEO, former co-founder of Intigua and Checkpoint alum) and Asaf Yigal (VP Product and former co-founder of Currensee) have also doubled the number of employees since the beginning of the year. They already claim 700 companies as customers in over 55 countries.
The company showcased to Geektime earlier this year the power of its analytics engine, which they used to track Twitter mentions of Game of Thrones during broadcast. They also maintained a so-called Animosity Index to track general popular feelings toward this year’s presidential candidates. That analysis included a Lying Index, Honesty Index, Trump Geo Index (tracking the location of people mentioning Donald Trump), Mentions Over Time, and Top Election Topics.
There are a plethora of startups focusing on log analytics. The startup with the highest notoriety in log analytics right now might be Sumo Logic, which has raised $155 million including an $80 million Series E round in June 2015. Benchmark and Index Ventures have backed Elastic, which last raised a $70 million Series C in 2014 and was originally behind the launch of ELK. Another platform alternative Splunk, produced by a company of the same name, is already a publicly traded company.
Other up-and-coming players include MapD, which raised $10 million from the likes of Vanedge Capital, GV, Verizon and Nvidia back in March. Another is Australian AI and data analytics company Nugit, which received $5 million from Sequoia last month.