Total amount raised
$340 Millions
Latest funding date
5/1/2019
Location
Sumo Logic has successfully raised significant funding across multiple rounds, culminating in its acquisition by Francisco Partners for $1.7 billion. The company specializes in cloud-based machine data analytics, offering a suite of services designed to enhance security, observability, and log management.
Keep reading to explore the intricacies of Sumo Logic's fundraising journey and the investors backing this innovative platform.
What Is Sumo Logic?
Founded in 2010 by Christian Beedgen and Kumar Saurabh, Sumo Logic is headquartered in Redwood City, California. The company specializes in cloud-based machine data analytics, providing real-time insights through its Continuous Intelligence Platform.
Sumo Logic's offerings include Cloud SIEM, Security Analytics, and Log Management, designed to enhance security and observability for cloud-native applications. Their platform leverages AI and machine learning to deliver actionable intelligence from vast amounts of data.
With a workforce of 501-1000 employees, Sumo Logic continues to innovate in the field of data analytics, helping organizations manage and secure their digital environments effectively.
How Much Funding Has Sumo Logic Raised?
- Series B
- Amount Raised: $15M
- Date: January 2012
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series C
- Amount Raised: $30M
- Date: November 2012
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series D
- Amount Raised: $30M
- Date: May 2014
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and increase market penetration.
- Series E
- Amount Raised: $80M
- Date: June 2015
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and enhance product offerings.
- Series F
- Amount Raised: $75M
- Date: June 2017
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue on the path to becoming a public company.
- Series G
- Amount Raised: $110M
- Date: May 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To support growth, platform development, and international expansion.
Total Amount Raised: $340M
Current Valuation: $1.7 billion
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global investment firm that focuses on technology-driven companies at all stages of growth. They have a strong track record of investing in innovative companies that are leaders in their respective fields.
- Investment Focus Areas: Software, IT infrastructure, industrial technology
- Notable Investments: Nutanix, Coupa Software, Glassdoor
- Sapphire Ventures
- Details: Sapphire Ventures partners with visionary teams and venture funds to build companies of consequence. They focus on helping companies scale and achieve long-term success.
- Investment Focus Areas: Enterprise technology, consumer technology, venture funds
- Notable Investments: Box, LinkedIn, Square
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that invests in high-growth technology companies. They have a history of backing companies that go on to become industry leaders.
- Investment Focus Areas: Enterprise software, consumer internet, mobile technology
- Notable Investments: SpaceX, Tesla, Twitter
- Sequoia Capital
- Details: Sequoia Capital partners with founders to build enduring companies. They have a long history of investing in some of the most successful technology companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, WhatsApp
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have a strong focus on helping companies scale and achieve market leadership.
- Investment Focus Areas: Software, internet, mobile technology
- Notable Investments: Facebook, Dropbox, Slack
What's Next for Sumo Logic?
Sumo Logic stands at the cusp of significant growth opportunities, driven by the increasing demand for cloud-native solutions and advanced data analytics. With a market for log management software potentially worth $1.2 billion by 2022, the company is well-positioned to expand its platform through strategic acquisitions and internal development. The recent $110 million Series G funding round underscores the confidence investors have in Sumo Logic's potential to capture a larger market share and enhance its product offerings.
As Sumo Logic prepares for an IPO, the influx of capital will likely support further expansion of its engineering, sales, and global operations teams. However, the company faces challenges from established competitors like Splunk and Loggly, as well as the need to integrate acquisitions seamlessly. Maintaining innovation and meeting investor expectations will be crucial as Sumo Logic navigates the competitive landscape and aims for long-term success.
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