Scalyr, a US-based developer of log monitoring and analysis tools for engineers, closed a $20m series A round featuring Bloomberg Beta, the corporate venturing vehicle for media company Bloomberg, on Monday.
Venture capital firm Shasta Ventures led the round with capital also coming from seed-stage VC fund Susa Ventures and early-stage fund Heroic Ventures.
Founded in 2011, Scalyr has developed cloud-based software for log management and server monitoring that can sort through 1 terabyte of log data per second, making it much faster than conventional logging tools.
The company currently has 140 online-focused clients including CareerBuilder, Business Insider, OkCupid, Baidu and Giphy, and plans to use the funding to scale its business.
Scalyr secured $2.1m in seed funding from Bloomberg Beta and Google Ventures, the corporate venturing unit of internet and technology conglomerate Alphabet now known as GV, Susa Ventures and Sherpalo Ventures in 2015.
Steve Newman, chief executive of Scalyr, said: “The cloud is enabling systems of ever-increasing scale and complexity – it is a mixed blessing.
“At Scalyr, we are leveraging the cloud’s scalability to solve operational complexity, making it easy, even fun, to sift through mountains of log data and understand system behaviour.”