Hydrolix announced the closing of an $80 million Series C investment round, enabling the company to amplify its growth on additional cloud platforms for security and observability improvements.
The funding round was led by QED Investors, joined by Blumberg Capital, Frontline Ventures, Pruven Capital, and Sozo Ventures, alongside existing investors that include Akamai, AV8 Ventures, Ericsson Ventures, Nava Ventures, Oregon Venture Fund, S3 Ventures, Uncorrelated Ventures, and Wing Venture Capital. Chuckie Reddy, QED partner and head of growth investments, will join the Hydrolix board as a director.
Portland-based Hydrolix solves the problem of ever-ballooning volumes of log data and an existential need to perform analytics on that data to meet demanding security, compliance, and service performance expectations, according to the vendor.
The Hydrolix streaming data lake platform powers security, observability, ecommerce, advertising technology, and other log-intensive use cases.
“This round builds on the discovery that 400-plus new Hydrolix customers have made in the past year,” reflected Marty Kagan, co-founder and CEO of Hydrolix. “Successful global streaming events like the Super Bowl and the Olympics, alongside cloud platform launches like AWS and integrations with ecosystems like Splunk, Databricks and Kibana have greatly expanded our availability and value proposition. This round will help extend Hydrolix availability to additional cloud platforms for the biggest security, observability, adtech and RUM platforms. We’ll also expand the sources of data we ingest while giving customers the power to maintain existing interfaces and processes. Hydrolix is radically reducing the cost to store and apply analytics to our customers’ valuable log data, and that’s propelling our tremendous growth.”
Each investor in the round has expertise and relationships in different vertical markets and geographies. QED brings strong financial services connections, as the firm was co-founded by Nigel Morris, co-founder of Capital One, while Pruven adds insurance, real estate, and healthcare to the mix.
Sozo Ventures and Frontline Ventures will help accelerate Hydrolix’s already substantial penetration of the Asian and European markets respectively. Blumberg Capital offers expanded access to technology leaders across verticals through its global Innovation Council.
For more information about this news, visit https://hydrolix.io.