The company aims to pursue its strategic 5-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
Mumbai: Israel-based leading provider of machine learning-powered log analytics and monitoring solutions, Coralogix on Thursday announced it has raised $55 million in a Series C funding round led by Greenfield Partners.
The company aims to pursue its strategic 5-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.
The latest round of funding also saw participation from Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s - O.G. Tech, Janvest Capital Partners, Maor ventures, and 2B Angels.
In October 2020, the company had raised $25 million in Series B funding round co-led by Red Dot Capital Partners and O.G. Tech VC (backed by Eyal Ofer).
Ariel Assaraf, CEO, Coralogix 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 whilst offering best in class localized support infrastructure."
Coralogix in its previous funding round had announced a strategic expansion into India with a commitment to invest over $30 million in the upcoming 5 years. The company is currently pursuing its investment goals for the Indian market. Besides, the company is also aggressively expanding its onsite team in the country to provide comprehensive sales and customer success support to India-based companies.
As part of its expansion plans for India, Coralogix has set up a new Amazon Web Services (AWS) Mumbai region offering superior server support and data storage capabilities to its India-based customers. The company has scaled it’s servers by over 1000% with localized data processing reaching a rate of 100 billion events a day, offering efficient services to some of the biggest tech companies across the country. The company is also eyeing to aggressively expand its market footprint across India offering best-in-class localized support infrastructure to global enterprises.