LogDNA, a log monitoring and analytics platform, has closed its Series B round on $25m with Emergence Capital leading the round.
Other contributions to the round came from Initialized Capital, Y Combinator Continuity Growth and Providence Equity.
Through the new line of equity, the company is looking to scale its engineering, sales and marketing teams.
LogDNA provides a log management software which is capable of instantly collecting, centralising and analysing logs in real-time of from any platform and of any size, the company claims. Its technology helps financial services to meet compliance with HIPAA, SOC 2, HITECH, PCI-DSS and GDPR.
Its platform, which implements military grade encryption, maintains HIPAA compliance by quickly and securely collects and centralises log data and enables easy search, analysis and alert features. To ensure LogDNA keeps up compliance with HIPAA and HITECH, it is audited every year by a third-party assessor.
Some of the company’s clients include IBM, Instacart and Lime. IBM recently revealed it is using LogDNA as its primary logging provider for IBM Cloud customers.
Over the past year, LogDNA has seen strong growth, increasing to 2,000 customers and a 5x revenue increase compared to 2017.
Emergence Capital general partner Joe Floyd said, “As every company in the world becomes a software company, a solution that can quickly and securely analyse logs from multiple clouds and on-premise servers is critical to maximize uptime across the board.”
LogDNA has announced a number of new service offerings which support customers wishing to host their products in their own hosting environments.