Humio Raises $20 Million Series B (Total at $32 Million)

Humio Ltd., in log management platform enabling complete observability for all streaming logs in real time, self-hosted or in the cloud, 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, it 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 storage and retention beyond 1PB at low costs, removing all constraints in handling long retention and data volumes at scale.

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“Humio’s next-gen 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, MD, 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 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 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 software market is forecast to grow at a CAGR 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 VP, enterprise system management software.

“At Humio, we believe that the amount of data collected by customers should never be limited. Nearly 2 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, Humio. “By providing the lowest TCO, 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% Y/Y 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.”

Firm’s customers are large organizations across industries including financial services, education, healthcare, communications, and cloud-based service providers such as Aruba a HPE company, Bloomberg, Michigan State University, Netlify, 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.

“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.

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January 29, 2019 | Press Release