Security Startup Sumo Logic Raises $75 Million
Sumo Logic announced it has raised $75 million in financing. Seven investors participated in the round: Sapphire Ventures, Accel Partners, DFJ, Greylock Partners, IVP, Sequoia Capital, and Sutter Hill Ventures.
Sumo Logic is a next-generation log management and analytics company that leverages big data for real-time IT insights. The company’s cloud-based service provides customers with real-time interactive analytics at unprecedented petabyte scale. The Sumo Logic service is powered by patent-pending elastic log processing and log-reduction technologies, and aims to transform log data into actionable insights for IT operations, application management, and security and compliance teams. Unlike expensive and complex premise-based solutions, the Sumo Logic service can be deployed instantly, scales elastically, and requires zero maintenance.
According to the company, the funding will fuel growth across Sumo Logic’s engineering, sales and global functions, with an emphasis on extending the platform capabilities of its service to address growing use cases, including operational and security analytics, advanced machine learning, and IoT.