Coralogix, an Israeli full-stack observability company, announced that it has raised $115 million in a funding round, reaching unicorn status. The firm plans to expand its business in India and integrate AI technologies.
Launch of Significant Investments
Coralogix has closed its Series E funding round, raising $115 million. This fully primary round was led by NewView Capital. Major participants included the Canada Pension Plan Investment Board and NextEquity. The company's valuation post this round has exceeded $1 billion, nearly doubling its 2022 valuation.
Growing Importance of Observability
Data observability is becoming increasingly critical in today's tech landscape. Observability platforms provide insights into system health and performance, enabling quick identification and resolution of issues. However, analyzing complex data streams can be time-consuming and resource-intensive.
Expansion Plans in India
Coralogix plans to invest approximately $100 million in India over the next five years. This includes expanding its office in Gurugram and hiring more staff in Bengaluru and Mumbai. As noted by CEO Ariel Assaraf, India represents the company’s second-largest market, after the U.S.
Coralogix continues to gain momentum as it expands its presence in India while developing monitoring technologies through AI, highlighting its position within the tech sector.
