Bengaluru’s tech scene has exciting news lately. Log analytics startup Parseable has raised fund. It has secured $2.75 million Seed round investment. The funding was led by Surge and NP-Hard Ventures. It showcases growing confidence in the innovative approach of Parseable.
With the fresh capital, the startup plans to level-up its efforts in managing the vast and ever-growing volumes of log data that is generated by modern digital businesses. Parseable’s press release states that they will leverage open formats like Apache Parquet and Apache Arrow. The formats are important in dismantling the data silos which are commonly found within organizations and ensure that log data becomes accessible as well as seamlessly compatible with other tools and systems.
The move aligns with the company’s vision of creating a unified data ecosystem. This will enhance business intelligence capabilities by enabling businesses to utilize insights from logs and other data sources together.
Parseable is not confined to Bengaluru alone with its solutions. It has clients from other countries across leading sectors including fintechs, cybersecurity firms and healthcare providers.
Investor Surge is led by Peak XV Partners and is considered as a powerhouse in supporting startup growth with respect to funding. It has funded about 140 startups across 16 sectors in less than five years. Its startups have collectively raised $2 billion in follow-on funding post-acceleration.
The successful Seed round of Parseable is a milestone for the company as well as for the broader tech ecosystem. It highlights the value placed on innovative solutions to break down data barriers and strengthen businesses to efficiently extract actionable insights from their data logs.
Meanwhile, it is believed that with the innovation and expanding reach of Parseable the world will log analytics will witness greater solutions.
