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Coralogix founders Ariel Assaraf and Yoni FarinCoralogix founders Ariel Assaraf and Yoni Farin

Coralogix founders Ariel Assaraf and Yoni Farin

Coralogix


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  • Data analytics startup Coralogix just raised $25 million in a Series B round.
  • The funding highlights the growing importance of the data analytics market, already in a spotlight thanks to Sumo Logic’s successful IPO two weeks ago.
  • “This space is probably one of the hottest today in the market,” CEO Ariel Assaraf told Business Insider. “It created some monsters. We all know Splunk which is at $40 billion today, DataDog, which is a relatively new company, at $30 billion. Sumo Logic is just eight years old, and they’ve IPOed.”
  • Here’s the pitch deck Coralogix used to raise $25 million in a Series B round.
  • Visit Business Insider’s homepage for more stories.

Sumo Logic’s successful IPO in mid-September highlighted the strength of the market for data analytics, including tools used to monitor the performance of business applications.

That market, which features other major players like Splunk and DataDog, was in the spotlight again Wednesday when Coralogix, a Sumo Logic rival, announced a $25 million Series B led by investors Red Dot Capital and O.G. Tech VC. 

“This space is probably one of the hottest today in the market,” CEO Ariel Assaraf told Business Insider. “It created some monsters. We all know Splunk which is at $40 billion today, DataDog, which is a relatively new company, at $30 billion. Sumo Logic is just eight years old, and they’ve IPOed.”

Arrasraf declined to share Coralogix’s valuation but said that the reason for the growth in the space is clear: Businesses now have access to massive amounts of data that they need to analyze quickly with data analytics tools. 

“The amount of data that systems generate is enormous and companies need to take hold of it,” Assaraf said. “We definitely see that this market continues to expand.”

The emergence of AI and machine learning has even led to faster and more precise insights that businesses can use for their operations.

Coralogix was launched in 2015 by Assaraf and Yoni Farin, who is now the company’s chief technology officer. The company has 55 employees and the platform’s clients include Monday.com and Masterclass.

Here’s the pitch deck Coralogix used to raise a Series B round:

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