 "Parseable raises $2.5 mn in seed round to expand log analytics services")
Parseable, a technology firm based in Bengaluru, said on Tuesday it has raised $2.75 million in a seed funding round led by Surge and NP-Hard Ventures.
Parseable specialises in log analytics, which one definition says is the process of searching, investigating, and visualising data generated by information technology systems. The investment will help Parseable to find solutions for managing rising volumes of log data generated by modern digital businesses, said the company in a statement.
Global data creation expected to exceed 180 zettabytes, a measure of digital storage capacity, by 2025. As businesses increase their digital footprint, log analytics has become vital. When properly analysed and utilised, such data can offer invaluable insights into application performance, user behaviour, and potential security threats. “The challenge lies in managing and analysing this data efficiently without incurring high operational costs or sacrificing scalability and flexibility,” it said.
“Every company I spoke to was frustrated about the cost and complexity of log analytics while also seeking new ways to extract insights from their data. We see a foundational shift away from siloed data infrastructure,” said Nitish Tiwari, founder of Parseable.
Parseable said that, unlike traditional log management systems, it uses Cloud technology to “dynamically adjust resources to meet demand”. Such scalability ensures businesses can manage their data effectively, regardless of volume, and without worrying about infrastructure.
“We are very excited to partner with Parseable and support them in their journey to enhance log analytics with their developer-first approach to observability,” said Micha “mies” Hernandez van Leuffen, co-founder and partner at NP-Hard Ventures.
Parseable said innovative, efficient, and scalable log analytics solutions have become essential as businesses generate large quantities of log data.