Coralogix, an Israeli data security platform, has officially joined the unicorn club after raising $115 million in a Series E funding round. This latest investment, led by NewView Capital, values the company at over $1 billion and underscores the increasing demand for AI-powered observability solutions in the enterprise sector. Coralogix plans to leverage this funding to significantly expand its operations in India, recognizing the country as one of its top three global markets.
The funding round also saw participation from the Canada Pension Plan Investment Board (CPPIB) and NextEquity, along with existing investors including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Tech, Joule Capital Partners, and Maor Investments. This strong backing from both new and existing investors signals confidence in Coralogix's vision and its ability to capitalize on the growing need for advanced data security and observability solutions.
A substantial portion of the newly acquired capital will be strategically deployed in India. Coralogix aims to increase its market share, particularly in compliance-intensive and rapidly scaling sectors such as BFSI (Banking, Financial Services and Insurance), IT & Telecom, Logistics, and EdTech. The company intends to significantly expand its office in Gurugram and accelerate hiring in Bengaluru and Mumbai. Over the next five years, Coralogix anticipates creating hundreds of high-value tech jobs in India, focusing on roles in AI and data science, cloud security, customer engineering, and enterprise sales.
Coralogix's existing Indian portfolio includes prominent customers such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, Razorpay, and Delhivery. The company's expansion plans are geared towards providing these and other Indian businesses with enhanced support and cutting-edge solutions to address their evolving data security and observability needs.
Ariel Assaraf, Co-founder and CEO of Coralogix, emphasized India's strategic role in the company's global roadmap. He stated that the funding would enable Coralogix to significantly expand its Indian presence, including building cutting-edge AI capabilities, deepening partnerships, and creating additional employment opportunities.
Coralogix offers a full-stack observability and security platform that helps companies streamline analytics and avoid getting lost in their log data by automatically identifying production problems. The company's machine learning-powered platform transforms cluttered log data into meaningful patterns and trends, providing valuable insights for proactive decision-making. The platform's Streama technology also helps users reduce costs and improve data insights.
In addition to its focus on organic growth, Coralogix has also pursued strategic acquisitions to enhance its platform capabilities. The company recently acquired Aporia, an AI observability and safety guardrails specialist, to strengthen its ability to monitor and manage AI models. This acquisition reflects Coralogix's commitment to staying at the forefront of technological innovation and providing its customers with the most advanced solutions available.
With its new unicorn status and significant investment in Indian expansion, Coralogix is well-positioned to capitalize on the growing demand for data security and observability solutions in the Indian market and beyond. The company's focus on AI-powered technology, strategic partnerships, and customer-centric approach are expected to drive continued growth and success in the years to come.
