Parseable raises $2.75M in seed round to build the next generation log analytics & observability platform

 Parseable is a high-performance, easy-to use platform in the cloud that helps developers store and manage logs efficiently

Funds raised will be used to accelerate Parseable’s innovation in managing the increasing amount of log data generated by today’s digital businesses
Peak XV’s Surge led the seed funding round, with participation from NP-Hard Ventures

National, 7 May 2024: Bengaluru-based Parseable announced a seed funding round of US$2.75 million led by Surge and NP-Hard Ventures, earmarking its entry into the expanding log analytics market. This investment is set to fuel Parseable's mission to innovate in handling the surging volumes of log data generated by modern digital businesses.

The vast amount of data being generated and captured worldwide is forecasted to continue expanding, with global data creation to surpass 180 zettabytes by 2025. As the digital footprint of businesses expands, the concept of log analytics has become increasingly critical. Such data, if analysed and utilised properly, can offer invaluable insights into application performance, user behaviour, and potential security threats. However, the challenge has been in efficiently managing and analysing this data without incurring high operational costs or sacrificing scalability and flexibility.

Parseable addresses these challenges head-on by being cloud native from the ground up. This means the platform is designed to fully exploit the benefits of cloud computing, including scalability, reliability, and flexibility. Unlike traditional log management systems that may struggle to scale or incur high costs as data volumes grow, Parseable leverages fundamental cloud components like storage and compute that allow it to dynamically adjust resources to meet demand. This scalability ensures that businesses can manage their data effectively, regardless of volume, without worrying about the infrastructure overhead.

Parseable uses open formats such as Apache Parquet and Apache Arrow, which are crucial for breaking down the silos of data that typically exist within organizations. By adopting these open standards, Parseable ensures log data is not just accessible but also interoperable, making it easier to integrate with other tools and systems. This openness facilitates a more unified data ecosystem, where businesses can get insights from logs and other data sources together, enhancing overall business intelligence.

Nitish Tiwari, founder of Parseable, said, “Every company I spoke to was frustrated about the cost & complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure.” The rise of open table formats like Iceberg and Delta Lake, with S3 as persistence on one side; and open application log formats like OpenTelemetry on the other side are a clear testament to this shift.

“We’re very excited to partner up with Parseable and support them in their journey to supercharge log analytics with their developer-first approach to observability”, said Micha “mies” Hernandez van Leuffen, cofounder and partner at NP-Hard Ventures.

As businesses continue to generate vast quantities of log data, it is increasingly evident that there is a need for innovative, efficient, and scalable log analytics solutions like Parseable. With its cloud-based design, commitment to open formats, and focus on scalability and flexibility, Parseable offers a promising solution that meets the demands of the modern digital landscape, enabling organizations to unlock the full potential of their log data.

Parseable raises $2.75M in seed round to build the next generation log analytics & observability platform Parseable raises $2.75M in seed round to build the next generation log analytics & observability platform Reviewed by Newzpot on May 06, 2024 Rating: 5
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