Big news in big data today! This morning we announced our Series A investment in Logentries, a new cloud-based service provider for collecting and analyzing huge quantities of machine-generated log data.
Here at Polaris, we fund companies that are poised to create maximum impact – and that is exactly what Logentries is positioned to do. With the volume of digital data expected to reach 7.9 trillion gigabytes in 2015 (IDC), log management will only become more costly and complex. Logentries utilizes a unique collective intelligence model to transform unstructured data into actionable business and operational insights. The technology focuses on finding and extracting the individual events that matter most, allowing anyone at any level to “mine for log data gold.”
Our strategy of investing in repeat entrepreneurs with whom we’ve previously worked also shines through with this investment. Leading the charge at Logentries is today’s newly named President & CEO, Andrew Burton, a SaaS industry veteran and former SVP, Products at LogMeIn (NASDAQ: LOGM), and its Chairman Doug McNary, another enterprise software veteran who was CEO of our former portfolio company vKernel (acquired by Dell.) Both Doug and Andrew have proven track records with us — and we can’t wait to once again collaborate in the name of growth and innovation.
Headquartered in Cambridge with offices in Dublin and Prague, Logentries has expanded to actively service over 10,000 users, across more than 100 countries, processing more the 10 billion log events per day. The company will use the Series A funds to accelerate product development and aggressively drive a go-to-market strategy. We are pleased to be joined in the round by Floodgate, Frontline Ventures, and RRE Ventures.
We look forward to working with this stellar team as Logentries delivers tremendous value to developers, IT operations and business analysts around the world.
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