Coralogix raises USD 55 mn in funding led by Greenfield Partners

It is also aggressively expanding its onsite team in the country to provide comprehensive sales and customer success support to India-based companies.Currently, its team strength in India is 10 people, and the company aims to take this to 50 in the next two years.As part of its expansion plans for India, Coralogix has set up a new Amazon Web Services AWS Mumbai region, offering server support and data storage capabilities to its India-based customers, the statement said.India is a significant market for Coralogix packed with huge opportunities.

Israeli tech firm Coralogix on Thursday said it has raised USD 55 million (about Rs 408.4 crore) in funding, led by Greenfield Partners.

The Series-C round also saw participation from Red Dot Capital Partners, StageOne Ventures, Eyal Ofer's-OG Tech, Janvest Capital Partners, Maor ventures, and 2B Angels, according to a statement.

The company, which provides machine learning-powered log analytics and monitoring solutions, has raised USD 96 million in total.

In the last quarter, Coralogix had clocked 250 per cent year-on-year growth and more than doubled its paying customer base to over 2,000. The company will use the new capital to extend their platform beyond observability towards a comprehensive storage-free data solution, the statement said.

Coralogix also aims to pursue its strategic five-year growth plan for the India market, whilst assisting companies with regional server support, data storage capabilities and compliance with the country's data privacy laws, it added.

In October last year, the company had raised USD 25 million in Series-B funding round co-led by Red Dot Capital Partners and O.G. Tech VC (backed by Eyal Ofer).

Last year, the company had also announced a USD 30 million investment for expanding into India, driven primarily by the data localisation compliance requirements for its customers. It is also aggressively expanding its onsite team in the country to provide comprehensive sales and customer success support to India-based companies.

Currently, its team strength in India is 10 people, and the company aims to take this to 50 in the next two years.

As part of its expansion plans for India, Coralogix has set up a new Amazon Web Services (AWS) Mumbai region, offering server support and data storage capabilities to its India-based customers, the statement said.

''India is a significant market for Coralogix packed with huge opportunities. India's data privacy laws mandating data localisation is a big stride in the current era of digital revolution across businesses and administration.

''We aim to assist companies comply with the country's data privacy laws while offering best-in-class localised support infrastructure,'' Coralogix CEO Ariel Assaraf said.

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