Accel Partners Leads New Round, Joining Existing Investors Greylock Partners and Sutter Hill Ventures
MOUNTAIN VIEW, Calif. – Nov. 28, 2012 – Sumo Logic, the next-generation log management and analytics company, today announced that it has closed a $30 million Series C funding round led by Accel Partners, with participation from existing investors Greylock Partners and Sutter Hill Ventures. The latest round brings the company’s total venture capital funding to $50.5 million, and will allow Sumo Logic to expand research and development, and increase investments in sales, marketing, and other go-to-market resources.
“Sumo Logic’s powerful analytics engine, coupled with its highly-scalable architecture, provides enterprises with a compelling cloud-based solution for monitoring and analyzing machine data,” said Ping Li, partner at Accel Partners and responsible for Accel’s Big Data Fund. “With Sumo Logic, IT and Operations teams can generate actionable insights that transform the business.”
Sumo Logic helps enterprise IT professionals search, analyze, monitor, and visualize big data in real time, enabling application and infrastructure troubleshooting within data center, cloud and hybrid environments. As a native cloud solution, Sumo Logic eliminates the need for on-premise log management equipment and dedicated personnel, delivering a petabyte-scale platform that gives companies immediate access to valuable operational insights. With Sumo Logic, organizations benefit from rapid time-to-value and do away with expensive professional services and costly deployment models. This funding round will support the expansion of Sumo Logic’s continued innovation and increased market presence within the log management and data analytics spaces.
Less than a year after the company’s public launch, Sumo Logic has seen rapid adoption from large-scale enterprise clients including Netflix, enabled broad access to its services through its popular Sumo Logic Free offering, and provided deep enterprise value with innovations like LogReduce™, push analytics, and real-time dashboards.
“This new round is validation of our vision and innovation as a company, and testament to the traction we are seeing in the marketplace,” noted Vance Loiselle, president and CEO of Sumo Logic. “The funding positions us well to aggressively expand our powerful cloud-based analytics and log management service to a very broad section of the market.”
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About Accel Partners
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London and Bangalore, as well as in China via its partnership with IDG-Accel.
Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories. Accel’s Big Data Fund aims to fund transformative early stage and growth companies throughout the Big Data ecosystem, from next generation storage and data management platforms to a wide range of revolutionary software applications and services including data analytics, business intelligence, collaboration, mobile, vertical applications and many more. Accel’s past Big Data investments include Cloudera, Couchbase, Dropbox, Fusion-io, Lookout, Nimble Storage, Origami Logic, QlikView, and Trifacta.
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 Accel Partners, Greylock Partners and Sutter Hill Ventures. For more information, visit www.sumologic.com.
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