Logz.io, an Israel-based software monitoring technology developer backed by industrial equipment and appliance producer Siemens, has secured $23m in a funding round led by venture capital firm Pitango Growth.
Founded in 2014, Logz has built a cloud-based software platform that enables IT engineers to monitor, log and analyse the performance of applications across multiple infrastructures.
The product incorporates separate tools for logging, tracking and tracing applications, in addition to collecting cybersecurity data.
The company has earmarked the funding for recruitment, product development and commercialisation intended to accelerate growth. It said it has now received over $120m in funding to date.
General Catalyst led a $52m series D round for Logz in May 2019 that also featured Siemens’ Next47 unit, OpenView Venture Partners, 83North, Giza Venture Capital, Vintage Investment Partners and Greenspring Associates.
OpenView had previously led the company’s $23m series C round in 2017, investing alongside 83North, Giza Venture Capital and Vintage Investment Partners.
Logz had secured $16m the previous year in a series B round led by OpenView and backed by 83North and Giza, the two having combined in 2015 to inject $8m of series A financing.