Data Management

ChaosSearch Nabs $40 Million Series B Funding After Record Year



ChaosSearch Nabs $40 Million Series B Funding After Record Year

Source: ChaosSearch

ChaosSearch recently announced that it has secured $40 million in Series B funding, according to a press release on the company’s website. The venture capital brings the data platform for analytics vendor’s total earned to nearly $60 million since its founding in 2017. The ChaosSearch funding was co-led by Stripes and Moore Strategic Ventures. The cash infusion will help the company continue to meet demand for its product.

ChaosSearch is a massively scalable ELK-compatible log analysis platform delivered as a fully managed service. The product enables search and analysis of a customer’s cloud data via a proprietary UltraHot universal data format and associated architecture that allows for direct and accelerated analytics. ChaosSearch is stateless and decouples storage from compute. It also streamlines and automates the data management process within your own S3 account. No data movement, transformation, or schema definition is required.

2020 was a banner year for the Boston-based bog data firm, as it saw impressive sales growth and a rapidly expanded enterprise customer base in the United States and in Europe.

ChaosSearch CEO Ed Walsh said “Businesses that have been struggling with the high cost and complexity of large-scale data analysis are knocking down our doors looking for a better, simpler, and more cost-effective solution. They’re excited about ChaosSearch’s ability to enable fast insights from massive data sets within their own cloud data lake while also dramatically reducing costs. Although we weren’t planning to raise additional capital in 2020, investors saw the opportunity and approached us about accelerating our plans. It will enable us to execute aggressively by growing our team, expanding our use cases, and rapidly building a scalable, repeatable go-to-market model.”

Timothy King

Timothy is Solutions Review’s Senior Editor. He is a recognized thought leader and influencer in enterprise BI and data analytics. Timothy has been named a top global business journalist by Richtopia. Scoop? First initial, last name at solutionsreview dot com.

Timothy King

Latest posts by Timothy King (see all)


Tagged



Source link

Most Popular

To Top