logging tools
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Logging startups are suddenly hot as CrowdStrike nabs Humio for $400M
A couple of weeks ago SentinelOne announced it was acquiring high-speed logging platform Scalyr for $155 million. Just this morning CrowdStrike struck next, announcing it was buying unlimited logging tool Humio for $400 million.
In Humio, CrowdStrike gets a company that will provide it with the ability to collect unlimited logging information. Most companies have to pick and choose what to log and how long to keep it, but with Humio, they don’t have to make these choices, with customers processing multiple terabytes of data every single day.
Humio CEO Geeta Schmidt writing in a company blog post announcing the deal described her company in similar terms to Scalyr, a data lake for log information:
“Humio had become the data lake for these enterprises enabling searches for longer periods of time and from more data sources allowing them to understand their entire environment, prepare for the unknown, proactively prevent issues, recover quickly from incidents, and get to the root cause,” she wrote.
That means with Humio in the fold, CrowdStrike can use this massive amount of data to help deal with threats and attacks in real time as they are happening, rather than reacting to them and trying to figure out what happened later, a point by the way that SentinelOne also made when it purchased Scalyr.
“The combination of real-time analytics and smart filtering built into CrowdStrike’s proprietary Threat Graph and Humio’s blazing-fast log management and index-free data ingestion dramatically accelerates our [eXtended Detection and Response (XDR)] capabilities beyond anything the market has seen to date,” CrowdStrike CEO and co-founder George Kurtz said in a statement.
While two acquisitions don’t necessarily make a trend, it’s clear that security platform players are suddenly seeing the value of being able to process the large amounts of information found in logs, and they are willing to put up some cash to get that capability. It will be interesting to see if any other security companies react with a similar move in the coming months.
Humio was founded in 2016 and raised just over $31 million, according to Pitchbook Data. Its most recent funding round came in March 2020, a $20 million Series B led by Dell Technologies Capital. It would appear to be a decent exit for the startup.
CrowdStrike was founded in 2011 and raised over $480 million before going public in 2019. The deal is expected to close in the first quarter, and is subject to typical regulatory oversight.
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SentinelOne to acquire high-speed logging startup Scalyr for $155M
SentinelOne, a late-stage security startup that helps customers make sense of security data using AI and machine learning, announced today that it is acquiring high-speed logging startup Scalyr for $155 million in stock and cash.
SentinelOne sorts through oodles of data to help customers understand their security posture, and having a tool that enables engineers to iterate rapidly in the data, and get to the root of the problem, is going to be extremely valuable for them, CEO and co-founder Tomer Weingarten explained. “We thought Scalyr would be just an amazing fit to our continued vision in how we secure data at scale for every enterprise [customer] out there,” he told me.
He said they spent a lot of time shopping for a company that could meet their unique scaling needs and when they came across Scalyr, they saw the potential pretty quickly with a company that has built a real-time data lake. “When we look at the scale of our technology, we obviously scoured the world to find the best data analytics technology out there. We [believe] we found something incredibly special when we found a platform that can ingest data, and make it accessible in real time,” Weingarten explained.
He believes the real time element is a game changer because it enables customers to prevent breaches, rather than just reacting to them. “If you’re thinking about mitigating attacks or reacting to attacks, if you can do that in real time and you can process data in real time, and find the anomalies in real time and then meet them, you’re turning into a system that can actually deflect the attacks and not just see them and react to them,” he explained.
The company sees Scalyr as a product they can integrate into the platform, but also one which will remain a standalone. That means existing customers should be able to continue using Scalyr as before, while benefiting from having a larger company contributing to its R&D.
While SentinelOne is not a public company, it is a pretty substantial private one, having raised over $695 million, according to Crunchbase data. The company’s most recent funding round came last November, a $267 million investment with a $3.1 billion valuation.
As for Scalyr, it was launched in 2011 by Steve Newman, who first built a word processor called Writely and sold it to Google in 2006. It was actually the basis for what became Google Docs. Newman stuck around and started building the infrastructure to scale Google Docs, and he used that experience and knowledge to build Scalyr. The startup raised $27 million along the way, according to Crunchbase data, including a $20 million Series A investment in 2017.
The deal will close this quarter, at which time Scalyr’s 45 employees will join SentinelOne.
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LogDNA announces $25M Series C investment and new CEO
LogDNA, a startup that helps DevOps teams dig through their log data to find issues, announced a $25 million Series C investment today along with the promotion of industry vet Tucker Callaway to CEO.
Let’s start with the funding. Emergence Capital led the round with participation from previous investors Initialized Capital and Providence Equity. New investors TI Platform Management, Radianx Capital, Top Tier Capital and Trend Forward Capital also joined the round. Today’s investment brings the total raised to $60 million, according to the company.
Current CEO and co-founder Chris Nguyen says the company provides a centralized way to manage log data for DevOps teams with an eye toward troubleshooting issues and getting applications out faster.
New CEO Callaway, whose background includes executive stints at Chef and Sauce Labs, came on board in January as president and CRO with an eye toward moving him into the top spot when the time was right. Nguyen, who will move to the role of chief strategy officer, says everyone was on board with the move, and he was ready to step back into a more technical role.
“When we closed the latest round of funding and looked at what the journey forward looks like, there was just a lot of trust and confidence from my co-founder, the board of directors, all of the investors on the team that Tucker is the right leader,” Nguyen said.
As Callaway takes over in the midst of the pandemic, the company is in reasonably good shape, with 3,000 customers using the product and a strategic partnership with IBM to provide logging services for IBM Cloud. Having $25 million in additional capital certainly helps, but he sees a company that’s still growing and intends to keep hiring.
As he brings more people on board to lead the company of approximately 100 employees, he says that diversity and inclusion is something he is passionate about and takes very seriously. For starters, he plans to put the entire company through unconscious bias training. They have also hired someone to review their hiring practices to date and they are bringing in a consultant to help them design more diverse and inclusive hiring practices and hold them accountable to that.
The company was a member of the same Y Combinator winter 2015 cohort as GitLab. It actually started out building a marketing technology product, only to realize they had built a powerful logging tool on the back end. That logging tool became the basis for LogDNA .
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Humio announces $20M Series B to advance unlimited logging tool
Humio, a startup that has built a modern unlimited logging solution, announced a $20 million Series B investment today.
Dell Technologies Capital led the round with participation from previous investor Accel. Today’s investment brings the total raised to $32 million, according to the company.
Humio co-founder and CEO Geeta Schmidt says the startup wanted to build a solution that would allow companies to log everything, while reducing the overall cost associated with doing that, a tough problem due to the resource and data volume involved. The company deals with customers who are processing multiple terabytes of data per day.
“We really wanted to build an infrastructure where it’s easy to log everything and answer anything in real time. So we built an index-free logging solution which allows you to ask […] ad hoc questions over large volumes of data,” Schmidt told TechCrunch.
They are able to ingest so much data by using streaming technology, says company EVP of sales Morten Gram. “We have this real time streaming engine that makes it possible for customers to monitor whatever they know they want to be looking at. So they can build dashboards and alerts for these [metrics] that will be running in real time,” Gram explained.
What’s more, because the solution enables companies to log everything, rather than pick and choose what to log, they can ask questions about things they might not know, such as an on-going security incident or a major outage, and trace the answer from the data in the logs as the incident is happening.
Perhaps more importantly, the company has come up with technology to reduce the cost associated with processing and storing such high volumes of data. “We have thought a lot about trying to do a lot more with a lot less resources. And so, for example, one of our customers, who moved from a competitor, has gone from 80 servers to 14 doing the same volumes of data,” she said.
Deepak Jeevankumar, managing director and lead investor at Dell Technologies Capital, says that his firm recognized that Humio was solving these issues in a creative and modern way.
“Humio’s team has created a new log analysis architecture for the microservices age. This can support real-time analysis at full-speed ingest, while decreasing cost of storage and analysis by at least an order of magnitude,” he explained. “In a short-period of time, Humio has won the confidence of many Fortune 500 customers who have shifted their log platforms to Humio from legacy, decade-old architectures that do not scale for the cloud world.”
The company’s customers include Netlify, Bloomberg, HP Aruba and Michigan State University. It offers on-prem, cloud and hosted SaaS products. Today, the company also announced it was introducing an unlimited ingest plan for hosted SaaS customers.
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