Log management and big data analytics company Sumo Logic has raised $30 million to take its machine data analytics platform into EMEA and Asia Pacific regions, taking its total funds raised to $80.5 million. This latest round was led by Sequoia Capital, with participation from existing investors Greylock Partners, Sutter Hill Ventures and Accel Partners. Accel Partners also participated in a 2012 $30 million Series C round for Sumo Logic, and is joining in this round with its second $100 million big data fund.
The startup's patent-pending Elastic Log Processing and LogReduce technologies transform machine data into actionable insights for IT operations, application management and security and compliance teams.
Big Growth expected for big data analytics
"Machine data used to be little more than exhaust. Now it's the fuel that powers operational efficiency, information security and insights into customer behavior," said Pat Grady, a partner at Sequoia Capital. "We were shocked to learn that customers can start analyzing production data in minutes, which makes Sumo Logic an easy choice over on-premise alternatives."
The four-year-old startup expects the market for machine data to grow 15 times by 2020 and has witnessed its customer base grow more than 200 percent year over year. It has been rumored that Sumo Logic will file for an IPO in the coming years. Big data companies Splunk and Tableau Software filed for IPOs last year and have since done very well.
Sumo Logic customers conduct more than 5 million searches per month. To support this continued growth, the company is investing in the addition of personnel dedicated to customer satisfaction.
To better service enterprise customers located in EMEA and Asia Pacific, it now provides its service from data centers located in Sydney, Australia and Ireland. By offering access to Sumo Logic's machine data analytics platform in-region, customers will experience lower latency and address data sovereignty requirements.
"By every measure, we have experienced explosive growth over the last year and this lead investment from Sequoia provides another huge validation of our business and large upside," said Sumo Logic CEO Vance Loiselle. "As we continue executing on our vision in 2014, we are seizing the opportunity to expand our talent roster and extend our business into the wide-open European and Asia Pacific markets as demand for machine data analytics soars."
Over the past year, in addition to introducing key integrations with Akamai, Amazon Web Services CloudTrail and ServiceNow, Sumo Logic has enhanced its platform with enterprise security analytics, anomaly detection and an application library. The company's cloud-based Log Management and Analytics service is used by companies like Netflix, McGraw-Hill and GoGo Inflight.