Sutter Hill Ventures Leads Round with Participation from Founding Investors Greylock Partners and Shlomo Kramer
MOUNTAIN VIEW, CA January 31, 2012 Sumo Logic, the next generation log management and analytics company, today announced that it has closed a $15 million Series B funding round led by Sutter Hill Ventures, with participation from founding investors Greylock Partners and angel investor Shlomo Kramer. The new funding brings the startup's total venture capital backing to $20.5 million. The company will use the funds to accelerate its engineering and go-to-market activities. Concurrently, the company emerged from stealth to unveil its next generation log management and analytics service, the subject of a separate announcement issued today. Uniquely delivered as a petabyte scale, cloud-based service, Sumo Logic helps companies to uncover operational and security insights buried in enterprise log files.ArcSight veterans Christian Beedgen and Kumar Saurabh founded Sumo Logic in April 2010. Bruno Kurtic (Sensage) and Domingo Mihovilovic (SugarSync, Siebel) joined the company mission in founding leadership roles. The product team includes experienced software developers with deep domain experience across log management, security and Big Data. Sumo Logic's board of directors includes Asheem Chandna (Greylock Partners), Shlomo Kramer (Imperva) and Mike Speiser (Sutter Hill Ventures). The company's team and board of directors have played key roles in helping build multiple industry-leading companies including ArcSight, Check Point Software, Imperva, Palo Alto Networks, Siebel Systems and Veritas.
"The log management market is ripe for disruption," said Mike Speiser, partner at Sutter Hill Ventures. "My partners at Sutter Hill and I are excited to lead the Series B financing at Sumo Logic and help build the industry's leading cloud-based company."
"Enterprises continue to log data at exponential rates, both behind the firewall and increasingly across external clouds," said Asheem Chandna, partner at Greylock Partners. "We're proud to be founding investors in Sumo Logic in 2010, and look forward to continuing to work closely with the Sumo Logic team in delivering the industry's leading next-generation solution."
"This is an exciting day at Sumo Logic, as we emerge from stealth to unveil our solution and announce our Series B financing," said Kumar Saurabh, acting CEO and VP of Analytics at Sumo Logic. "We are privileged to have strong partnerships with the industry's preeminent venture capitalists, and their continued support in our mission to provide enterprise customers with real-time operational and security insights from log data at unprecedented scale and ease of deployment."
About Sumo Logic
Sumo Logic is the next generation log management and analytics company that leverages Big Data for real-time IT insights. The company's cloud-based service provides customers with real-time interactive analytics at unprecedented petabyte scale. The Sumo Logic service is powered by patent-pending Elastic Log Processing™ and LogReduce™ technologies, and transforms log data into actionable insights for IT operations, application management, and security and compliance teams. Unlike expensive and complex premise-based solutions, the Sumo Logic service has a low TCO, can be deployed instantly, scales elastically and requires zero maintenance. The company is based in Silicon Valley and is backed by Greylock Partners and Sutter Hill Ventures. For more information, visit www.sumologic.com.
About Greylock Partners
Greylock partners with entrepreneurs to help them build market-leading businesses. Over the past 45 years the firm has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events. Such companies include Ascend Communications, CheckFree, Constant Contact, Continental Cable, Decru, Data Domain, DoubleClick, Internet Security Systems, Legato, Media Metrix, Millennium Pharmaceuticals, Openwave, Open Market, OutlookSoft, Polyserve, Red Hat, RightNow Technologies, Success Factors, Tellabs, Trilogy and Wily Technology. Current Greylock portfolio companies include Apptio, Cloudera, Data Robotics, Facebook, Groupon, Imperva, LinkedIn, One Kings Lane, Palo Alto Networks, Pandora, Picarro, Redfin, Workday and ZipCar.
For more information about Greylock Partners, visit their website (http://www.greylock.com) or blog (http://www.greylockvc.com) or follow them on Facebook (http://www.facebook.com/greylock) or Twitter (@greylockvc).
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley's original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Quantum, StorageTek, Data Domain, Alteon, Linear Technology, nVidia, and BroadVision. For more information about Sutter Hill Ventures, please visit www.shv.com.
© Copyright 2012 Sumo Logic, Inc. All rights reserved. Sumo Logic, Elastic Log Processing, LogReduce, Push Analytics and "Big Data for Real-time IT" are trademarks of Sumo Logic, Inc. All other company and product names mentioned herein may be trademarks of their respective owners.