Humio, the
only log management platform enabling complete observability for all streaming
logs in real time, self-hosted or in the cloud, today announced it has raised a
$20 million Series B investment led by
Dell
Technologies Capital, with participation from existing
investor,
Accel. The funding, which brings total investment raised to $32
million, will be used to increase the company's capabilities to keep pace with
demand across global markets, and expand the development of its self-hosted and
SaaS products.
The company also announced
its Unlimited Ingest for the Cloud Plan.
Complementing the company's current Unlimited Self-hosted Plan, the Unlimited
Ingest for the Cloud Plan significantly changes the cost of scaling to massive
volumes in a SaaS environment, and gives customers similar benefits as Humio's
Unlimited Self-hosted Plan. Extending the platform's ease in scalability, Humio
Bucket Storage seamlessly increases data storage and retention beyond 1
petabyte at industry-leading low costs, removing all constraints in handling
long retention and data volumes at scale.
"Humio's next-generation log
storage, analysis, and management architecture enables Global 2000 enterprises
to ingest and analyze logs in real-time at a fraction of the cost of existing
decades-old technologies," said Deepak Jeevankumar, managing director, Dell
Technologies Capital. "Some of the world's largest enterprises are already
using Humio enterprise-wide, and we are glad to aid Humio in their journey
towards democratizing the log analytics world."
Log management platforms
continually collect data about what's happening across a company's
infrastructure, and help identify a variety of problems from application
service down-time to cyber attacks. Gartner predicts that by 2021, fewer than
15% of organizations will implement holistic monitoring, putting $255 billion
of investments in cloud-based solutions at risk.* Humio minimizes the challenge
of sifting through the rapidly, ever-growing volume of event and data logs by
enabling users to log all data - structured or unstructured - in real time and
at scale. The company's modern, index-free log management solution helps
organizations to understand large amounts of data, instantly pinpoint
availability concerns, identify vulnerabilities in complex computing
environments, and recover more quickly from incidents.
According to IDC,
the worldwide IT operations management (ITOM) software market is forecast to
grow at a compound annual growth rate of 6.9% during the 2019-2023 forecast
period, with the public cloud-based segment growing at a much higher
double-digit rate. "The market is being driven by the need to monitor,
manage, and optimize systems, infrastructure, applications, and end-user
experience across increasingly complex on-premise, hybrid cloud, public cloud,
multicloud, and containerized deployments," said Tim Grieser, IDC Research
Vice President, Enterprise System Management Software.**
"At Humio, we believe that the
amount of data collected by customers should never be limited. Nearly two years
ago we introduced the first Unlimited Ingest Plan for self-hosted deployments
and we are thrilled to now bring the first Unlimited Ingest Plans for Cloud,"
said Geeta Schmidt, CEO and co-founder at Humio. "By providing the lowest total
cost of ownership, industry-leading unlimited plans, minimal maintenance and
training costs, and remarkably low compute and storage requirements, we've
succeeded in driving rapid user adoption. Humio has experienced unstoppable momentum as seen with
550% year-over-year revenue growth, a 6.5 times increase over this time last
year. The addition
of Dell Technologies Capital to our existing investor, Accel, is further validation
for Humio and the value we bring to customers. DTC's guidance and support will
be critical as Humio continues to scale, mature, and succeed."
Humio's customers are large
organizations across multiple industries including financial services, education,
healthcare, communications, and cloud-based service providers such as
Bloomberg, Netlify, HP Aruba, Michigan State University, SpareBank 1, and
Vijilan. To further increase interoperability and performance, the company has
expanded its partner ecosystem to include Optiv, Eversec, SHI, PagerDuty,
Corelight, Instana, Tines, Netic, Kloia, Guidepoint, Confluent, Min.io, and
many others.
"Humio's unlimited ingest
empowers my team to make active decisions about changes to our system with full
confidence knowing that we have all of the information, visibility, and
insights necessary," said Ryan Neal, Netlify Director of Infrastructure. "When
I'm able to log everything, it means that I can look at my developers and say,
‘go ahead, absolutely.' That's really powerful, especially because you
can't ever really go back in time and add more information. You can't say, ‘I
wish I knew that field.' So it's more like ‘let's remove it from
the developer's mind, log everything, and then potentially use it later in an effective
way'."
"We're
thrilled to strengthen our partnership with Humio as they're building the
leading solution in this fast-growing log management market. At Accel we've
been fortunate to back many of the defining developer-oriented companies and we
are excited to see Humio emerge as an integral part of a modern enterprise's IT
software stack," said Andrei Brasoveanu, Accel.