The startup will use the new funding to accelerate its innovation in managing the growing volume of log data generated by today’s digital organizations. Parseable is a user-friendly cloud platform that enables developers to easily store and manage log data. The startup utilizes open formats like Apache Parquet and Apache Arrow.
Parseable, a Bengaluru-based log analytics business, has raised $2.75 million in funding led by Peak XV Surge and NP-Hard Ventures.
The startup claimed it will utilize the new capital to speed up its innovation in managing the growing volume of log data generated by today’s digital enterprises.
Parseable, founded in 2022 by Nitish Tiwari, is a cloud-first platform that allows developers to easily store and handle logs. It addresses the issues of maintaining and analyzing the ever-expanding data landscape of company logs by adopting a cloud-native strategy.
Log analytics is simply the analysis of data recorded by an enterprise or any technology business, often known as logs. Computers, networks, apps, and operating systems all contribute to data generation.
Organisations can utilize log analytics to derive insights from disparate data about user behavior patterns, as well as discover concerns, audit security activities, check compliance, and prepare for changes to IT infrastructure or capacity.
Traditional log management solutions sometimes struggle to scale up or incur large expenditures as data volumes expand. Parseable claims that it uses key cloud components such as storage and computing to dynamically alter resources to match organizational demands.
The scalability provided by Parseable is said to ensure that businesses can handle their data successfully regardless of volume or infrastructure constraints. Open formats used by the startup include Apache Parquet and Apache Arrow.
Parseable’s open architecture ensures that log data is easily accessible and interoperable, making integration with other tools and systems simpler.
“Every organization I spoke with expressed frustration with the cost and complexity of log analytics, as well as a desire to discover innovative ways to extract insights from their data. “We see a fundamental shift towards moving away from siloed data infrastructure,” said founder Tiwari.
Several computer heavyweights, like Microsoft’s Azure and Google Cloud, offer log analytics solutions, as do SaaS platforms such as SumoLogic, GrayLog, and Splunk, among others.
In 2021, the global log management market was worth $2.3 billion, and it is expected to increase at a compound yearly growth rate (CAGR) of 10.52% to $4338.84 million by 2027.
