Sumo Logic, a cloud-based machine data analytics platform startup has raised about $110 million as funds to kick-start its business. The growth is focused across engineering, marketing, and global operations with particular emphasis on service capacity of its platform analytics. The subsequent round led by Battery Ventures adds up to the total as $325 million.
Several new and existing investors including Tiger Global Management and Franklin Templeton have participated in generating a current valuation of approximately $1 billion breaking records in the current financial year. Sumo Logic has over 2000 customers and about 100,000 users globally utilizing its SaaS machine data analytics making it a big league player in the field of DevSecOps tools.
Sumo Logic is a California-based company, founded in 2010 by ArcSight veterans, which has more than 1600 enterprises relying on them from around the world to collaborate, operate, develop, and secure their processes at cloud scale. The company ensures a secure, Cloud-based, machine data analytics tools, delivering real-time, endless intelligence from structured, semi-structured and unstructured data in the totality of the application stack and lifecycle.
With its software, the users gain a multi-tenant, service-model advantage to speed up the innovations, heightening the competitive edge, business value, and growth. Sumo Logic is a private company based in Redwood City and is powered by Accel Partners, DFJ, Greylock Partners, Sapphire Ventures, Sequoia Capital, IVP, and Sutter Hill Ventures.
Sumo Logic is mainly driven by the transformation to digital business and cloud technology in all scales among industries and companies. The company has been a platform for cloud-native companies and cloud migration initiatives.
The $110 million in funds adds to a total of $325 million supporting its service and aid the adoption of new multi-cloud and hybrid-cloud architecture, infrastructure tools, and processes. The upgrade will also focus on customers from every significant field and company size, from Airbnb, Pinterest, Samsung SmartThings, and Zuora, to digital transformation ventures such as ABinBev, Alaska Airlines, Adobe, BBC, Genesys, Hearst Media, Infor, Levi’s, Marriott, and Pitney Bowes.