Sumo Logic, a California-based big data and analytics platform provider, has announced an $110 million (£84.5m) funding round – and secured a more than $1 billion valuation in the process.
The funding round, which was led by Battery Ventures and also featured contributions from Tiger Global Management and Franklin Templeton, will aim to in the company’s own words continue to keep its position ‘as the SaaS machine data analytics leader of choice for the cloud era.’
“Sumo Logic’s growth is driven by the shift to digital business and cloud adoption across all industries and companies of all sizes,” said Ramin Sayar, president and CEO at Sumo Logic. “We have proven that we are the platform of choice for not only cloud-native companies, but also enterprise companies and their cloud migration initiatives.
“It’s great to have such a powerful set of leading investors and ecosystem partners as we accelerate our category leadership,” added Sayar.
While Sumo Logic’s log management and analytics toolset has a variety of use cases, one of its primary focuses right now is as an enabler for DevSecOps which, as the name suggests, introduces security at an early stage of the application development and deployment process. Writing for this publication last April, Aruna Ravichandran, vice president of DevOps marketing at CA Technologies, explored how leading businesses were seeing significant uplift by not architecting in security flaws.
“The business case for DevSecOps couldn’t be clearer,” wrote Ravichandran. “It drives business performance because security cannot be an afterthought.”
The funding round, a series G which takes Sumo Logic’s total funding to $325m, comes off the back of a stellar year for the company. The past 12 months have seen more than $100m raised in revenue according to the firm, with more than 2,000 customers and 100,000 users globally leveraging its service.
Interested in hearing industry leaders discuss subjects like this and sharing their experiences and use-cases? Attend the Cyber Security & Cloud Expo World Series with upcoming events in Silicon Valley, London and Amsterdam to learn more.
