Cloud-based log management service Loggly has secured $10.5 million from Cisco Systems, Data Collective Venture Capital, and prior investors Trinity Ventures, True Ventures and Matrix Partners.
The latest round brings to $20.9 million the total raised by San Francisco-based Loggly since the 23 person company was founded in 2009.
The SaaS provider takes log data from any device and reports it in management platform that is designed to help people see real-time and trend data in a visually rich way. This “machine data”, come from servers, network routers, storage devices and a host of other sources. Aggregated together and analyzed, the data gives a picture of the overall health of how a service or web site is behaving. This might be an e-commerce site, a gaming platform, a SaaS provider and other sites and services that use the Internet to provide some form of customer value.
According to CEO Charlie Oppenheimer who was hired to run the company in June of 2012, Loggly is not yet profitable as it is spending for growth, so we can guess where the funds will go.
Loggly’s competitors include Splunk (NASDAQ: SPLK), the San Francisco company that had a strong initial public stock offering in April 2012 and now has a market capitalization of nearly $5.7 billion, and Sumo Logic, of Redwood City, which has raised $50.5 million since it, like Loggly, was founded in 2009.
CEO Charlie Oppenheimer said the company has transformed itself over the past several months to differentiate from the log data search providers like Splunk. The realization came in a meeting with a customer who said it is not primarily search but just knowing what’s going on that’s most important. That’s embodied in the visuals that shows the data in a way that is easy to act upon.