Investors Like Sumo Logic
Sumo Logic, the machine data analytics vendor, said its most recent funding binge that included two new investors pushed its venture capital total to $345 million over investment six rounds.
The analytics service provider said Wednesday (May 8) its latest funding round produced $110 million and included two new investors: Franklin Templeton Investments and Tiger Global Management. The round was led by Battery Ventures. The company also said its annual revenues have topped $100 million.
Sumo Logic, Redwood City, Calif., claims a market valuation of more than $1 billion. The latest cash infusion will be used primarily to extend the analytics capabilities of its machine data platform, either through internal development or acquisitions.
Sumo Logic and other cloud-native analytics platform vendors are focusing those services on software services for machine data analytics as more customers shift to hybrid and multi-cloud infrastructure. The transition to cloud-based analytics is generating demand for new tools that will integrate analytics applications running in datacenters along with cloud-based applications.
Last year, Sumo Logic announced native support for Amazon Web Service’s Elastic Container Service for Kubernetes (Amazon EKS) while adopting the Prometheus open-source standard to store machine data.
As it differentiates its machine data analytics platform with support for Docker containers, the Kubernetes cluster orchestrator and Amazon EKS, the company said those upgrades would enable its service to better manage those distributed micro-services.
The analytics vendor claims more than 2,000 customers, including Airbnb, Alaska Airlines, Levi’s, Marriott International and Pinterest.
Indeed, Sumo Logic has emerged as a cloud data analytics and log analysis leader. The nine-year-old company, which is thought to be on track for an initial stock offering, primarily sells analytic solutions that help security and IT operations teams better track infrastructure and applications.