With early customer buy-in, and financing from 83North and Giza,
the company releases predictive enterprise-grade ELK as a Service
New York, NY & Tel Aviv, Israel – October 5, 2015 – Logz.io, the Predictive ELK (Elasticsearch, Logstash and Kibana) log analytics cloud service company, formally launched today with an announcement of $8M in financing led by 83North (formerly Greylock IL) and Giza Venture Capital. The company will use the funding to fuel additional product development and build sales, marketing, and support teams.
Not your grandfather’s log analytics
Logz.io offers an open source based alternative to the plethora of existing competitors whose products are based on proprietary technologies. Incumbents in the market include solutions such as Splunk, Sumo Logic, and dozens of others. In contrast, the Logz.io platform takes the open source ELK, a stack extensively used by companies such as Google, Facebook, Netflix and many others, and offers it as a full-featured, enterprise-grade log analytics cloud service, coupled with advanced machine-learning techniques. Led by veteran entrepreneurs Tomer Levy and Asaf Yigal, the technologies deployed are similar to those used in Israeli naval warfare, making Logz.io “battle ready” for the enterprise.
“With the Logz.io cloud platform, companies get access to a holistic ELK solution with simple setup, seamless scalability, enterprise-grade features, and strict security standards allowing them to enjoy the power of the open-source community while relying on an enterprise-grade cloud service,” said Tomer Levy, Co-Founder and CEO of Logz.io. “Adding to the latest innovations in log analytics, the platform employs machine-learning algorithms that surface critical log events before they impact operations, providing users with unprecedented operational visibility into their systems and applications.”
Early customer enthusiasm
The company has already experienced pre-launch success with hundreds of companies worldwide onboarding the platform over the last few months. Existing users include: Playbuzz, Asurion/Soluto, BigPanda, Mirakl and Applicaster, among others.
Playbuzz, a company enjoying tens of millions of unique visitors per month, is an early Logz.io user. VP of R&D, Ezi Boteach, described their Logz.io experience by saying, “With PlayBuzz’s explosive growth, it was clear to us that we needed a reliable ELK-as-a-service solution, and Logz.io gives us just that.”
“We ran ELK internally for quite some time and had a lot of overhead costs to maintain it,” said Nagi Letaifa, Lead Developer at Mirakl, a Paris-based online marketplace SaaS company. “Logz.io enables us to focus on our growing business while knowing that our logging solution is always there. From my point of view, it’s perfect.”
Top-tier VCs are banking on Logz.io
“The world of Big Data and analytics is dominated by open-source software. The Logz.io platform enables customers to gain immediate access to an enterprise-grade, open source service, instead of building complex logging systems and eyeballing mountains of log data,” said Erez Ofer, partner at 83North.
Logz.io makes log data meaningful by offering ELK, the world’s most popular open-source log analytics platform, as a predictive, enterprise-grade Software as a Service. Powered by machine-learning algorithms, the platform provides real-time access to insights based on the collaborative knowledge of DevOps professionals around the world. To learn more, follow us on Twitter, LinkedIn, Facebook, and Google+, or visit our blog.
83North, formerly Greylock IL, is a global venture capital firm with more than $550 million under management. 83North invests in European and Israeli entrepreneurs creating global businesses, across all stages of consumer and enterprise companies. 83North is the sum of the latitudes of London and Tel Aviv – the two main hubs of operation of the fund. For more information visit http://www.83north.com.
About Giza Venture Capital
Giza Venture Capital, established in 1992, is a pioneer investor in seed and early-stage technology companies and currently manages five funds totaling over $600 million. Giza has invested in over 100 companies and has had over 35 successful exits. Learn more at http://www.gizavc.com.