ChaosSearch, a next generation data analytics platform for scalable analytics announced closing its US$ 40 million Series B funding round on 16th December 2020. The funding was co-led by Strategic Ventures and Stripes.
The company delivers the promise of data lakes of instantly turning cloud project storage in a robust and streamlined analytics engine. ChaosSearch is planning to use this investment for expanding their business reach at global level.
With the conjunction of this investment Ron Shah a partner at Stripes has joined the board of directors of the company. He said “We have been investing for so many years at Stripes on the basis of thesis that companies are increasingly driven by data. After speaking with so many customers and understanding the competitive landscape it is clear to us that ChaosSearch is bringing the right solution for a big problem of data analytics in today’s world.”
In today’s era the large enterprises are generating billions of log files on a regular basis; they realize the need of harnessing this data for deriving key information technology and business statistics. But the primary platforms available for analytics like the commonly used ELK stack carry the limitation of inherent scalability, because of which organizations break the data in several disparate clusters. It leads to increased complexity and cost for environment management and reduces the data accessibility for analyzing it. The ChaosSearch platform indexes the data in its true form without any transformations and allows the customers for running queries and analyzing it in the form of a single unified data lake. This provides unlimited capacity and extended data retention time for them.
The existing investors of ChaosSearch from the Series A funding, Glasswing Ventures, Stage 1 Ventures and 406 Ventures excitedly participated in this milestone funding round for the company which increased their investment. The funding came at the record breaking 2020 growth with the company saw 3 digit sales growth and rapid expansion of their customer base in Europe and the US.
About ChaosSearch
The Boston based enterprise founded in 2017 by David Noblet, Thomas Hazel and Les Yetton delivers data statistics at scale. The ChaosSearch platform connects and indexes the data present inside the customer cloud storage environment and renders it to be completely searchable and available for analyzing with the existing data tools. Since the company allows consumers to use ElasticSearchAPI for their queries and Kibana for the log visualizations and analytics with which they are already familiar it is the ideal solution for the customers which are looking to replace the existing ELK stack cluster environment.
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