Cyber investor NightDragon backs LogDNA in $50m Series D
Originally posted on fintech.global on December 8, 2021.
Observability data platform LogDNA has secured $50m in a Series D funding round led by cybersecurity investment and advisory company NightDragon.
The financing raise was also backed by existing investors such as Emergence and Initialised Capital.
Founded in 2015, LogDNA has developed a cloud-first platform that enables companies to manage and take action on observability data in real-time and at hyperscale. The company claims its platform fuels massive productivity gains for modern engineering teams at hyper-growth startups and Fortune 500 companies alike.
This tranche of funding comes at a prosperous time for LogDNA. From 2017 to 2020, LogDNA was able to grow its revenue by 1293% and has more than tripled its team over the same time period. Recently, LogDNA made Deloitte’s 2021 Technology Fast 500.
According to LogDNA, this funding accelerates its vision of enabling enterprises to maximise the value of observability data in motion. The investment will help the company deliver a ‘more robust observability data pipeline solution’ that will empower builders such as application developers, site reliability engineers and platform engineers, to harness the full power of machine data within their workflows.
The Series D funding will help LogDNA accelerate time to market for a new observability data pipeline solution, which will enable companies to ingest all of their data to a single platform, normalise it and route it to the appropriate teams so they are able to take rapid and meaningful action. The solution is expected to be generally available next year.
LogDNA is also planning to expand its team and widen its strategic partnerships to support more cloud and services providers, platforms and technical integrations.
LogDNA CEO Tucker Callaway said, “Now that open systems, cloud-native architectures and interconnected applications and data are commonplace, a single pane of glass is far too limiting. It’s time to shift the focus to the people who use the data. The data consumer must be able to capture the real-time value of data in motion, not just data at rest in storage. They must be able to ingest and process data to a central point — the pipeline — and then route it to the tools where people are actually working, rather than forcing them to break their workflow to use a different tool. This is the problem that LogDNA aims to solve.”
NightDragon founder and managing director Dave DeWalt added, “Organisations need a comprehensive platform that ingests and normalizes massive amounts of data in the cloud and at hyperscale. With this type of platform, stakeholders from the developer to the C-Suite are empowered to make smarter, more cost-effective decisions and reduce the mean time to detection and remediation for cyberattacks. LogDNA has the right team and technology to address this challenge head on. NightDragon is proud to partner with them to accelerate their vision and help enterprises everywhere realize the true potential of data across their organisations.”
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