Log management platform Humio, recently announced that it has raised $20mn in Series B funding round. The funding round was led by Dell Technologies Capital, the global venture capital investment arm of Dell Technologies along with existing investor Accel.
With the recent investment, the company plans to increase its capabilities to keep pace with demand across global markets and expand the development of its self-hosted and SaaS products. So far Humio has raised a total of $32mn in investment.
The company also announced its Unlimited Ingest for the Cloud Plan. Complementing the company’s current Unlimited Self-hosted Plan, the Unlimited Ingest for the Cloud Plan significantly changes the cost of scaling to massive volumes in a SaaS environment and gives customers similar benefits as Humio’s Unlimited Self-hosted Plan. Extending the platform’s ease in scalability, Humio Bucket Storage seamlessly increases data storage and retention beyond 1 petabyte at industry-leading low costs, removing all constraints in handling long retention and data volumes at scale.
“Humio’s next-generation log storage, analysis, and management architecture enable Global 2000 enterprises to ingest and analyze logs in real-time at a fraction of the cost of existing decades-old technologies,” said Deepak Jeevankumar, managing director, Dell Technologies Capital. “Some of the world’s largest enterprises are already using Humio enterprise-wide, and we are glad to aid Humio in their journey towards democratizing the log analytics world.”
“At Humio, we believe that the amount of data collected by customers should never be limited. Nearly two years ago we introduced the first Unlimited Ingest Plan for self-hosted deployments and we are thrilled to now bring the first Unlimited Ingest Plans for Cloud,” said Geeta Schmidt, CEO, and co-founder at Humio.
“By providing the lowest total cost of ownership, industry-leading unlimited plans, minimal maintenance, and training costs, and remarkably low compute and storage requirements, we’ve succeeded in driving rapid user adoption. Humio has experienced unstoppable momentum as seen with 550% year-over-year revenue growth, a 6.5 times increase over this time last year. The addition of Dell Technologies Capital to our existing investor, Accel, is further validation for Humio and the value we bring to customers. DTC’s guidance and support will be critical as Humio continues to scale, mature, and succeed,” she added.
Sandeep is a journalism and mass communication graduate with a keen interest in politics and business. He is a part of Research & Content team at HrNxt.com.