Sumo Logic Raises $30 Million in Series C Funding to Help Enterprises Drive Actionable Insights From Big Data - Business - Press Releases | NBC News

MOUNTAIN VIEW, CA — Sumo Logic, the next-generation log management and analytics company, today announced that it has closed a $30 million Series C funding round led by Accel Partners, with participation from existing investors Greylock Partners and Sutter Hill Ventures. The latest round brings the company's total venture capital funding to $50.5 million, and will allow Sumo Logic to expand research and development, and increase investments in sales, marketing, and other go-to-market resources.

"Sumo Logic's powerful analytics engine, coupled with its highly-scalable architecture, provides enterprises with a compelling cloud-based solution for monitoring and analyzing machine data," said Ping Li, partner at Accel Partners and responsible for Accel's Big Data Fund. "With Sumo Logic, IT and Operations teams can generate actionable insights that transform the business."

Sumo Logic helps enterprise IT professionals search, analyze, monitor, and visualize big data in real time, enabling application and infrastructure troubleshooting within data center, cloud and hybrid environments. As a native cloud solution, Sumo Logic eliminates the need for on-premise log management equipment and dedicated personnel, delivering a petabyte-scale platform that gives companies immediate access to valuable operational insights. With Sumo Logic, organizations benefit from rapid time-to-value and do away with expensive professional services and costly deployment models. This funding round will support the expansion of Sumo Logic's continued innovation and increased market presence within the log management and data analytics spaces.

Less than a year after the company's public launch, Sumo Logic has seen rapid adoption from large-scale enterprise clients including Netflix, enabled broad access to its services through its popular Sumo Logic Free offering, and provided deep enterprise value with innovations like LogReduce™, push analytics, and real-time dashboards.

"This new round is validation of our vision and innovation as a company, and testament to the traction we are seeing in the marketplace," noted Vance Loiselle, president and CEO of Sumo Logic. "The funding positions us well to aggressively expand our powerful cloud-based analytics and log management service to a very broad section of the market."

Learn more about Sumo Logic

About Accel Partners
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London and Bangalore, as well as in China via its partnership with IDG-Accel.

Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories. Accel's Big Data Fund aims to fund transformative early stage and growth companies throughout the Big Data ecosystem, from next generation storage and data management platforms to a wide range of revolutionary software applications and services including data analytics, business intelligence, collaboration, mobile, vertical applications and many more. Accel's past Big Data investments include Cloudera, Couchbase, Dropbox, Fusion-io, Lookout, Nimble Storage, Origami Logic, QlikView, and Trifacta.

For more information, please visit the Accel Partners web site at www.accel.com. Find us on Facebook at www.facebook.com/accel.

About Sumo Logic
Sumo Logic is the 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 LogReduce™ technologies, and transforms 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 has a low TCO, can be deployed instantly, scales elastically and requires zero maintenance. The company is based in Silicon Valley and is backed by Accel Partners, Greylock Partners and Sutter Hill Ventures. For more information, visit www.sumologic.com.

Connect with Sumo Logic
Read the blog: http://www.sumologic.com/blog
Follow on Twitter: http://twitter.com/sumologic
Visit on Facebook: http://www.facebook.com/Sumo.Logic

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Accel Makes Big Commitment To Big Data With $100M Fund - Venture Capital Dispatch - WSJ

By Deborah Gage

Accel Partners has set aside $100 million to invest in start-ups that are trying to harness the power of big data, the firm will announce at the Hadoop World conference in New York this morning, aiming to consolidate its position as one of the earliest investors in these companies as the amount of data generated by companies and government agencies continues to grow.

The money for the fund, called Accel Big Data Fund, is coming from several Accel funds that are already raised, including Accel XI, which closed in June at $475 million; Accel Growth Fund II, which closed in June at $875 million; and the firm’s global funds, according to Accel Partner Ping Li.

Li will be an investor for the fund along with Accel Partners Rich Wong, Kevin Efrusy and Andrew Braccia in the U.S.; Bruce Golden in London; Subrata Mitra in India and others.

“Consumer companies (like Facebook) are very visible and we’re happy to be in those, but there’s a real undercurrent of picks-and-shovels innovation and how you harness all the data that’s being generated,” Li said. “We’ve all read articles about these new types of data that are unstructured and breaking the traditional data platforms…We’ve all grown to love them at Oracle, but they’re not built for the big data world.”

Li said the idea for the new fund came because some of Accel’s consumer portfolio companies—including Facebook, Rovio Entertainment (which makes Angry Birds) and Dropbox—generate tons of data, and the partners were able to see the importance of extracting, sorting and managing all the data and understanding who the users are.

The firm will partner with one of its current portfolio companies, Cloudera, which is commercializing the big data analysis engine Hadoop, to understand what business customers are doing with big data and where the technology is going. Accel took part in a $40 million Series D round for Cloudera, announced Monday.

Accel is also planning a big data conference in Silicon Valley and has named several advisers for the big data fund to help guide Accel through what could be “uncharted territory,” Li said. These include Cloudera Architect Doug Cutting, Cloudera Chief Scientist Jeff Hammerbacher, Bitly Chief Scientist Hilary Mason and former SolarWinds Chief Product Strategist Kenny Van Zant (currently at Asana).“You could drown in this big data wave as well,” he said.

Investments will focus on infrastructure, storage, security and enterprise applications, all the way up to business intelligence, mobile apps, financial trading apps and more. “I think we’ll look back 10 years from now and see great companies…that are just as important as the companies created 10 years ago,” Li said.

Datadog secures $6.2m in funding from Index Ventures and RTP Ventures - The Next Web

IT monitoring platform Datadog has announced a $6.2 million Series A investment round co-led by Index Ventures and RTP Ventures.

Founded in 2010, Datadog plans to use the funding to scale its operations and live up to the expectations of its growing enterprise customer base.

New York-based Datadog has built a monitoring product for IT teams in development and operations to solve the problem of growing amount of data these teams have to go through in their everyday work. It aggregates data from different applications, cloud providers, and management tools covering the full life cycle of code from writing to deployment.

“IT teams are deluged with data from an ever larger number of tools, creating as many data silos that prevent them from understanding and resolving issues,” said Olivier Pomel, CEO of Datadog.

The investment round was co-led by Index Ventures and RTP Ventures, an affiliate of ru-Net Holdings, with participation from existing investors IA Ventures, Amplify Partners, Contour Ventures and NYCSeed, which also backed the company at seed stage in 2011.

Image credit:  Highways Agency / Flickr.

Still In Stealth, Origami Logic Gets $9.3M To Help Marketers Unfold And Make Sense Of Big Data | TechCrunch

Talk to an engineer, and the world is full of big data promise. But those who work at the front end the tech industry — business development, sales and marketing people, for example — have largely been cut out of that conversation. That appears slowly to be changing, with the rise of startups that are dedicated to figuring out how to harness big data in a way that is digestible to those who would benefit from accessing it, but have not been able to up to now. One of these, Origami Logic, today is announcing that it is picking up a Series A round of $9.3 million to develop an analytics platform — still in stealth mode — that aims to give marketers access to big data in a way that is digestible and usable by them specifically.

The round was led by Accel Partners, as part of its Big Data Fund, and also had participation from Lightspeed Venture Partners and other investors.

The company is only planning to launch its product early next year — Origami is currently putting some trial customers on the platform now, but declined to say who they were. As it is described by Opher Kahane, the CEO and co-founder, Origami sounds fascinating, and very timely. The idea, he says, is to let sales and marketing people incorporate disparate strands of marketing data — covering areas like CRM, social media, email campaigns, surveys, and more — into a single platform, which then collates and processes it for them to produce salient data. In turn, that becomes usable for further campaigns, or to measure the effectiveness of those that have already been run.

The name “Origami Logic” says it all: creating pretty shapes out of what otherwise looks like a flat expanse of not very much promise. In other words, big data is something that can and will be used by more than just engineers over time.

“Modern marketers need to make daily, critical decisions amongst a growing plethora of customer touch points including social, mobile, web, search, display and email and a radically changing customer purchase journey,” says Kahane. “Today, many marketers are faced with data silos, making it difficult to capture the entire picture.” He says he wants Origami Logic to be the “single lens through which marketers derive data driven insight across all of their marketing efforts.”

Sounds great, but it takes a leap of faith for VCs to put a significant sum of money into a project that is treading into unchartered waters and has yet to be proven with actual customers.

According to partner Jake Flomenberg (who is, along with Ping Li, joining Origami’s board), part of the attraction here for Accel and the others is the fact that Kahane and his co founders, Ofer Shaked (now the CTO) and Alon Amit (VP of product) have collectively years of experience as successful entrepreneurs. Shaked had worked at Yahoo with Amr Awadalla, who is now CTO of Cloudera (another Accel portfolio company) and helped commercialize Hadoop. Shaked left Yahoo to help create CurrentTV and this is his third startup. Kahane, meanwhile, gained experience in Israeli intelligence and had also founded and sold Kagoor Networks to Juniper. Alon Amit comes from Facebook, where he had been project managing the social network’s ad engine, mobile advertising and sponsored stories.

The other important selling point is that Flomenberg believes that what Origami is doing is an essential evolution of how big data is being used by the tech industry. He calls Origami’s proposition “Splunk for marketers,” referring to the service that offers analytics to monitor enterprise apps, and he believes that this will be something that will become even more commonplace in the world of big data. “Both myself and the others at Team Accel, we think data-driven apps are the next stage for big data. Without apps to make big data usable, it will reamin a big pile of data siloed in different places.”

Indeed, the idea, says Kahane, is to incorporate as many applications as a person would want to into its platform. “We are entirely open on the idea,” he says. “The vision is to take marketing tools that are already in use today, for example Buddy Media or Hootsuite for social media management, Exact Targeting for e-marketing; Eloqua for email; Google for ads. These would become data sources on the hub that we’re building.”

There is of course the question of how Origami Logic will fit in with all the marketing platforms — and big players — that are already established in this space. I personally think that this sounds like just the sort of technology that Salesforce either needs to build or buy. On that point, Kahane is sanguine for now. He sees companies like this as competitors only in the “longer term,” he says. For now, “It’s about stitching together… We are more like partners. Their experience has been about content management, whereas we are on the analytical side. Longer term, as these companies try to stitch these things toether, there is a cometptive force, but it will be hard for the larger guys to be focused and nimble as we can be for now.”

In addition to using the new funds to continuing development of the platform, Origami Logic will also use some of it to staff up. The company is currently hiring engineering, design and data science folks, and encourages people to email them for more details if they’re interested.


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Company: Origami Logic
Website: origamilogic.com
Funding: $9.3M

Origami Logic is developing a breakthrough product for visual, self-service analytics specifically built for marketers. We apply big data analytics, data science and data visualization technologies to deliver insights through a delightful, marketer-friendly user experience.

→ Learn more
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Big data startups lure investment dollars | ITworld

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Big Data: Investments Flow into the Next Big Thing « Formtek Blog

Big Data: Investments Flow into the Next Big Thing

By Dick Weisinger, on January 4th, 2012

Analysts seem to agree that the stars are aligning for Big Data.  Nearly every end-of-year list of predictions for the direction of IT in 2012 includes Big Data.

James Kobielus, Forrester analyst, wrote on his blog that “Big data was inescapable in 2011. Without a doubt, it was the paramount banner story in data management, advanced analytics, and business intelligence (BI). The hype has been relentless, but it’s been driven by substantial innovations on many fronts.”

In presentations both Gartner Vice President David Cearley and Gartner analyst David Cappucio identified Big Data as one of the top 10 strategic trends for IT in 2012.

Information Management magazine reports general agreement among analysts like Thomas Davenport.  The article reports that ”Big data analytics will top all other areas of growth in analytics during 2012 due to the rapid expansion of social, mobile, location and transaction-based data taken in by various industries, according to predictions from the International Institute for Analytics.”

Ken Vander Wal, CISA, CPA, international president of ISACA said that “Big Data is going to evolve out of its ’shiny new object’ status in 2012. IT leaders will need to figure out how to coax order out of the chaos from all those zeroes and ones, as well as optimize ROI and manage data privacy.”

Patti Prarie, CEO of Brighter Planet, wrote on the Huffington Post said that Big Data Analytics will be a hot trend in 2012, explaining that “As the volume of enterprise data sky-rockets, an industry is growing up around using this flood of information to help companies operate more efficiently and sustainably. Companies increasingly will be deploying sophisticated software as a key component of their sustainability strategy.”

Hot technologies attract money and interest from venture capitalists.  It’s no different now with what’s happening in the area of Big Data.

In December, in an article on IT investment areas for 2012, writer Clint Boulton identified Big Data as a ”market too that is ripe for investment and acquisition.”

The New York Times reports Peter Goldmacher, an analyst and managing director at Cowen & Company as saying that “Venture capital is absolutely foaming at the mouth over big data.  The volume of data being created now is not 10 times bigger, it is like a thousand times bigger.”

Paul Sloan executive editor at C|Net writes that “Big data was a big term in 2011 and, as fuzzy as it sounds, it represents a monstrous opportunity for companies beyond the likes of Google, Facebook, Amazon, and LinkedIn. Anyone using an app-loaded smartphone is generating data that can be mined and made useful.”

Financial analysts identify IBM as a strong player because of their trove of Big Data technologies.  Online investment site seekingalpha writes that IBM “is at the center of the big data trend and is going to capitalize on the information revolution better than anyone…  Big data is a high margin business.”  IBM has a big stake in Big Data, but more likely, startups are where most of the new Big Data action will happen.

Accel Partners have set up a $100 million venture fund for investments called the Big Data fund.  The Wall Street Journal reports that the fund ”will focus on infrastructure, storage, security and enterprise applications, all the way up to business intelligence, mobile apps, financial trading apps and more.”

Mu Sigma, foe example, an Indian big data, analytics and decision support services for global enterprise customers company, secured a $108 million investment round led by General Atlantic.

Other examples of startups starting to receive money include PlaceIQ and GridGain.

The Wall Street Journal reports that PlaceIQ, a stealthy geolocation and big data company that tracks where smartphone users are and what they might be doing, raised $4.2 million in venture funds.  In December, startup GridGain, a company specializing in high performance cloud computing and real time big data processing received a $2.5 million Series A round of financing led by RTP Ventures.

The trend of Big Data investments is likely to pick up later in the year.
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January 4th, 2012 | Category: Big Data

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