Sumo Logic, a SaaS machine data analytics platform provider, today announced that it has secured $110 million through a funding round led by Battery Ventures.
The latest funding brings the total amount raised by the Redwood City, Calif.-based tech company to $345 million, with a current valuation over $1 billion.
Founded in 2010, Sumo Logic says that it has reached more than $100 million in revenue for its FY19 and has more than 2,000 customers around the world using its services. Customers include Airbnb, Pinterest, Samsung, Zuora, Adobe, Alaska Airlines, BBC, Genesys, Hearst Media, Infor, Levi’s, Marriott, and Pitney Bowes.
As a direct competitor of Splunk, Sumo Logic describes its cloud-native, multi-tenant platform as one that helps customers “make data-driven decisions” and reduce time to investigate security and operational issues.
“We have been tracking the Sumo Logic team for some time, and admire the company’s early understanding of the massive cloud-native opportunity and the rise of new, modern application architectures,” said Dharmesh Thakker, general partner, Battery Ventures. “The company’s fast-growing business dovetails with Battery’s larger thesis on “OpenCloud”—open-source and cloud-native technologies working with, not against, new cloud distribution models—and we are thrilled to partner with the team to capture the significant opportunity ahead.”
New investors including Tiger Global Management and Franklin Templeton also participated in the round, along with existing investors.
For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.
More from Mike Lennon
- Check Point to Acquire SASE Security Firm Perimeter 81 for $490 Million
- Rapid7 Announces Layoffs, Office Closings Under Restructuring Plan
- Horizon3 AI Raises $40 Million to Expand Automated Pentesting Platform
- Watch Now: Cloud & Data Security Summit Sessions
- Watch on Demand: 2023 CISO Forum Sessions
- Virtual Event Today: CISO Forum 2023 – Register to Join
- Watch Now: Threat Detection and Incident Response Virtual Summit
- Registration Now Open: 2023 ICS Cybersecurity Conference | Atlanta
Latest News
- Johnson Controls Ransomware Attack Could Impact DHS
- Unpatched Exim Vulnerabilities Expose Many Mail Servers to Attacks
- CISA Kicks Off Cybersecurity Awareness Month With New Program
- Recently Patched TeamCity Vulnerability Exploited to Hack Servers
- Silverfort Open Sources Lateral Movement Detection Tool
- Bankrupt IronNet Shuts Down Operations
- AWS Using MadPot Decoy System to Disrupt APTs, Botnets
- Generative AI Startup Nexusflow Raises $10.6 Million
