Artificial intelligence-based log analysis startup Logz.io announced a $23 million Series C funding round Wednesday. The round was led by OpenView Venture Partners, with participation from investors 83North Ltd., Giza Venture Capital, and Vintage Investment Partners.
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Logz.io has raised $47 million in capital to date.
Logz.io developed a platform that uses predictive analytics and machine-learning algorithms to detect and process meaningful data in volumes of information automatically generated by computer servers, applications, and network devices.
Since Logz.io last funding round in 2016, the company tripled its customer base and revenue, Log.io said in a statement.
"We believe the rapid growth of our customer base and partner ecosystem is directly attributable to the type of outside-the-box thinking evidenced by our newest capabilities,” said Tomer Levy, Logz.io CEO and co-founder. “We see a massive opportunity to help businesses of all sizes derive far more value from machine data than is currently possible under existing log analytics business models.”
Founded in 2014 and headquartered in Tel Aviv, Logz.io employs 80 people, according to Linkedin.