Logz.io Secures $16M Series B, Adds Dyn Chairman to Board

TEL AVIV, ISRAEL and BOSTON, MA --(Marketwired - November 15, 2016) - Logz.io, the AI-powered log analytics platform, today announces the closing of a $16 million Series B financing round led by OpenView with continued support from existing investors 83North and Giza.

Jim Baum, venture partner at OpenView, joins the Logz.io board of directors. Baum currently serves as Executive Chairman of the board for Dyn and previously served as President and CEO of Netezza (NYSE IPO 2007, acquired by IBM 2010).

"We have been impressed with the traction Logz.io managed to achieve in such a short time," said Baum. "Dyn relies on the Logz.io service in our global network operations team every day. Being actively involved with Dyn, I saw first hand how instrumental Logz.io was in our ability to quickly respond to and mitigate the recent unprecedented DDoS attacks we experienced, helping us assess the source, target, and protocols used."

Logz.io has also hired Bridget Gleason as VP of Sales to expand its world wide sales organization. Gleason was most recently VP of Corporate Sales as well as Executive Advisor at Sumo Logic. Prior to Sumo Logic, she was VP of Worldwide Sales at Yesware and Senior VP of Worldwide Sales at Engine Yard.

Logz.io currently services more than 1,000 companies from 80 countries internationally. Over the past four quarters, the company has consistently doubled its revenue and number of customers, which include Dyn, Turner Media, British Airways, ServiceNow, and Electronic Arts.

"We are excited to partner with OpenView to propel our continued worldwide expansion as we reinvent the log analytics space by combining the open source ELK Stack and artificial intelligence," said Logz.io co-founder and CEO Tomer Levy. "Additionally, we're thrilled to have Bridget join our executive team as VP of Sales. Her proven track record of success and ability to scale global high performance teams will be integral to our continued growth as we bring our AI-driven, open source analytics platform to more customers."

Company Timeline

• Founded in October 2014.
• Released the Logz.io enterprise-grade ELK cloud service in October 2015. The company announced $8 million in seed and Series A funding at the same time.
• In May 2016, Logz.io has become the only ELK-based SOC II, ISO 27001 with EU data locality compliant log analytics platform.
• Released the AI-driven Cognitive Insights™ in August 2016. Cognitive insights is a new AI platform that combines machine learning and human interaction with log data. It transforms manual DevOps and IT Operations into an automated scientific process that uncovers otherwise overlooked events and enriches them with actionable data about context, severity, relevance, and next steps.

About Logz.io

Logz.io is an AI-powered log analysis platform that offers the open source ELK Stack as a cloud service with machine learning technology. Visit the company's blog on DevOps, log analysis, and ELK and follow Logz.io on Twitter, Facebook, LinkedIn, and Google+. Visit Logz.io at http://logz.io.