Observability platform LOGIQ raises $1.8M in a seed round from Leo Capital
December 17th 2020: LOGIQ, a California and Bengaluru-based observability platform for IT administrators and development and operations (DevOps) teams, announced that it has raised $1.8 million in its first institutional seed funding round, led by Leo Capital on Wednesday. Observability, in the context of IT operations, refers to seeing what’s happening inside an IT system or process through various external information systems or data types.
The start-up is planning to direct the funding towards expansion of its AI/ML capabilities and to onboard more customers. LOGIQ claims to solve the ubiquitous problem for IT practitioners, DevOps teams and developers, which is the lack of a unified platform that can converge IT data from various sources and make it accessible and analysable. They help in seeing what's happening inside an IT system or process through various external information systems or data types.
Founded in 2019 by Ranjan Parthasarathy and Tito George, LOGIQ’s observability platform enables one to harness the power of machine data analytics for applications and infrastructure by unifying data types like logs, metrics, databases, and APIs on a single platform with 1-click simplicity. It supports multiple log agents and standardized protocols and saves time and money by leveraging your existing investments. The platform can be hosted as a self-service or managed SaaS as the company claims that its product ensures full compatibility with legacy infrastructures like bare-metal servers, VM’s, switches, and more modern cloud-native environments like Kubernetes and public cloud infrastructure. Some of their USPs include unified view, predictable pricing, one-click set-up, and zero tax storage management tax. From traditional deployments to virtualized environments and now containerized and serverless paradigms, LOGIQ supports it all. Users can also aggregate log data, gather performance metrics, access API's and connect databases such as Elastic, Mongo, Postgres, Druid, and Mysql for real-time visibility into the health of their IT infrastructure and application environments.
“We started with the goal of helping enterprises transition from managing their data in silos to a more unified manner in which they can harness their data. With LOGIQ, we want to empower developers and administrators in keeping their infrastructure and applications always running. The funding raised will enable us to widen our reach and also enhance our AI/ML capabilities,” said Ranjan Parthasarathy, chief executive officer, and co-founder, LOGIQ while commenting on the fundraise.
According to an IDC survey, half of all organisations process more than 100GB of log data in different formats every day, and the numbers continue to rise. There is such a flood of data available from APIs, databases, data lakes, etc. The lack of a unified platform that can converge this data has long been a pain point for IT practitioners, DevOps users, and developers alike. LOGIQ said its mission is to make all IT data accessible and analysable. Ranjan Parthasarathy proceeded to state that, “Data is the new oil across enterprises. However, there is also a need for a solution that helps them manage this data efficiently without hampering their operational efficiency or infrastructure. This is what LOGIQ has set out to do with its products and offerings. This funding will help us take our solutions to more industry stakeholders.”
