The funds will be used for the company’s expansion plans, especially its India and Asia Pacific (APAC) markets, it said in a statement.
Coralogix, an Israeli data and cloud computing company, on Wednesday said it has raised $142 million in its Series D funding round. The round was co-led by Advent International and Brighton Park Capital.
The funds will be used for the company’s expansion plans, especially its India and Asia Pacific (APAC) markets, it said in a statement.
The latest fundraise also saw participation from Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s OG Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments.
In connection with the funding round, Alek Ferro of Advent and Mike Gregoire, partner at Brighton Park Capital and former CEO at CA Technologies, have joined Coralogix’s board of directors.
In all, the company has raised $238 million so far. Of the fresh capital raised, $20 million will be pumped into India and APAC, taking Coralogix’s total investments in the country to $30 million over the next five years.
The company also recently launched Snowbit – its cybersecurity wing – that helps companies detect threats and bring it under control in the early stages. In India, Coralogix has tripled its customer base over the last 12 months with customers across a broad range of domains, including e-commerce, financial services, messaging, and many others, the statement claimed.
“Our rapid growth in the Indian market is a testament to the proposition and evolution of Coralogix as a full-stack observability platform. We are working to expand our go-to-market team in India and enter the ANZ and Asean geographies in the next few months. We will also significantly increase our investment in the buildout of Snowbit, our cybersecurity venture, given the strong interest we have seen in its ability to proactively monitor the entire cloud environment’s security and compliance,” Navdeep Manaktala, co-founder, Snowbit and president, APAC at Coralogix, said.
