Humio secures $9M in Series A funding from Accel to continue building live log analysis platform
Today I am excited to share that we have secured a Series A funding round of $9M, bringing Accel to the Humio family and expanding our abilities to deliver the de-facto log management solution for developers, IT, and security operations teams. Accel invests in exceptional founders with unique insights, from inception through all phases of growth, and is onboard to support our expansion. As TechCrunch reported, we increased our annual revenue by over 13x this past year and our early success is a clear indication that there is strong demand for a real-time, efficient and cost-effective log management solution.
Since our inception, we have received fervent interest in our solution by users and enterprises worldwide that have become frustrated by the limitations of current logging tools’ ability to provide instant visibility forcing limitations on data logged due to resource constraints. We purpose-built a time-series database engine to ingest massive volumes immediately with ease and in any environment, to be a solution that represents the next-generation of log management and deliver really real-time visibility. We will continue to invest in powering live system observability, enabling IT to deliver services quicker and more efficiently while also providing security teams instant visibility into threats.
This fundraising serves as a strong proof point of the momentum we are creating as a team committed to delivering on our vision of real-time observability at scale to enterprises globally. By joining the Accel community, we are gaining expert insights from one of the world’s leading venture capital firms. With over three decades of experience helping developer-focused early to growth stage companies expand and scale successfully, Accel’s backing and expertise is critical for us, as we plan for rapid growth to fulfill the customer demand we see worldwide.
We will use the funds secured to address the growing demand for Humio’s logging platform and invest in additional product research and development to ensure our innovations continue to outpace the evolution of customers’ needs both today and tomorrow. We will also expand our partner ecosystem to ensure the highest levels of interoperability and integration with key technology partners and cloud vendors and we will fuel our global sales and marketing programs.
Kresten, Christian and I have started working closely with Accel’s Andrei Brasoveanu, who is joining our board of directors, and Adrian Colyer, who will be a board observer. As the Humio executive team, we strongly believe they will provide strategic insights on scaling our company to take advantage of the massive market opportunity we see before us. With this added investment and their expertise, we will be better able to provide more customers the unique capability to use their log data to fully observe, understand and manage their systems with ease.
This is an exciting time for us all at Humio as it represents further validation of our vision and efforts and allows us to add new capabilities and focus on what we do best which is to apply our proprietary time-series database engine to logging massive terabytes of data - instantly. We are thrilled and grateful for the interest Humio is receiving from developers, customers, partners and investors as this serves as a strong endorsement of the work we all do each day. I would like to thank our investors for their confidence and support, and I’d also like to thank our growing number of customers around the world who serve as our closest and most trusted advisors.
Finally, I would like to express tremendous gratitude to the entire team at Humio, the core of our success. I am immensely proud of all of my colleagues and co-founders who made this success happen. Your unique skills, steadfast commitment to the needs of customers, and undying efforts have launched Humio into our exciting momentum... 2019 and beyond are going to be a HOOT!