The startup will use the fresh funds to accelerate its innovation in managing the increasing amount of log data generated by today’s digital businesses
Parseable works as an easy-to-use platform in the cloud that helps developers store and manage logs efficiently
The startup uses open formats such as Apache Parquet and Apache Arrow
Bengaluru-based log analytics startup Parseable has raised $2.75 Mn in a seed funding round led by Peak XV’s Surge and NP-Hard Ventures.
The startup said it would use the fresh funds to accelerate its innovation in managing the increasing amount of log data generated by today’s digital businesses.
Founded in 2022 by Nitish Tiwari, Parseable works as a cloud-first platform to enable developers to store and manage logs efficiently. It tackles the challenges of managing and analysing the ever-expanding data landscape of enterprise logs by embracing a cloud-native approach.
Log analytics essentially involves analysing the data recorded by an enterprise or any tech business also known as logs. The data is generated by the IT infrastructure such as computers, networks, applications, and operating systems.
Through log analytics, developers can extract insights from this disparate data about user behaviour patterns, and also detect issues, audit security activities, verify their state of compliance, and plan for IT infrastructure changes or capacity adjustments.
Traditional log management systems typically struggle when scaled up or incur high costs as data volumes grow. Parseable claims it leverages fundamental cloud components like storage and compute to dynamically adjust resources to meet enterprise demand.
The scalability offered by Parseable is claimed to ensure that companies can manage their data effectively, regardless of volume or their infrastructure constraints. The startup uses open formats such as Apache Parquet and Apache Arrow. Thanks to this open nature, Parseable ensures log data is easily accessible and interoperable, simplifying integration with other tools and systems.
“Every company I spoke to was frustrated about the cost and complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure,” said founder Tiwari.
Several tech giants such as Microsoft’s Azure, Google Cloud also offer solutions in the space of log analytics, along with SaaS platforms such as SumoLogic, GrayLog, and Splunk among others.
In 2021, the global log management market reached a value of $2.3 Bn and is projected to grow at a compound annual growth rate (CAGR) of 10.52% to reach $4338.84 Mn by 2027.
