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
- Sign up instantly and for free: http://www.freesumo.com
- Watch the Sumo Logic product overview video: http://bit.ly/sumodemo
- Attend the Sumo Logic Webinar on Dec. 11: http://bit.ly/realtimeinsights
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
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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.
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Big Data: Investments Flow into the Next Big Thing
By Dick Weisinger, on January 4th, 2012Analysts 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.January 4th, 2012 | Category: Big Data3 comments to Big Data: Investments Flow into the Next Big Thing
[...] years, opening a lot of opportunities for new startups and business ideas. Big Data companies like Mu Sigma, has been able to secure more than $100 million in a recent investment round, a quantity not so common for non business-to-consumer [...]
[...] years, opening a lot of opportunities for new startups and business ideas. Big Data companies like Mu Sigma, has been able to secure more than $100 million in a recent investment round, a quantity not so common for non business-to-consumer [...]
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