Data analysis firm Logentries, a spin-out of University College Dublin, raises $10m in series A.
US-based data analysis firm Logentries has raised $10m in series A backing from a number of backers and named a new chief executive.
Leading the round was venture firm Polaris Partners, and joined in participation by peers Frontline Ventures, Floodgate, and RRE Ventures. The latest funding brings Logentries total to $11.1m, which includes a $1.1m seed round held last year and supported by the same backers.
Founded in 2010, the company is commercialising research from University College Dublin’s Performance Engineering Laboratory which was jointly conducted with computer manufacturer IBM. Originally based in Ireland, the firm subsequently moved its headquarters to Boston.
Logentries provides a service which collects and analyses large quantities of machine-generated log data, which filters and prioritises the results of the data. The company has expanded to 10,000 users since launch, and currently handles more than 10 billion log entries per day.
Andrew Burton, who has been named as the company’s chief executive, said: “With big data transforming businesses of all kinds, Logentries lets customers focus on the data that matter most – the less than 1% of log entries that contain the game-changing information that’s hidden among the other 99%. I’m excited to join the Logentries team where our goal is to harness the power of log data and make it accessible to anyone.”
