Sumo Logic raises $110 million to orchestrate cloud apps with AI

There’s an enormous market for log management software, one potentially worth $1.2 billion by 2022. It’s not all that surprising — demand for products that automate the orchestration of labyrinthine systems won’t likely decline anytime soon. And most log-tracking solutions don’t require significant infrastructural changes to implement, which no doubt appeals to DevOps teams.

That’s probably why Sumo Logic, a cloud-native, machine data analytics platform delivering continuous app intelligence, had no trouble attracting tens of millions of dollars in its latest round of funding. The company today announced that it’s raised $110 million in financing led by Battery Ventures, with contributions from Tiger Global Management and Franklin Templeton. It brings the company’s total capital raised to $325 million, following a $75 million funding round in June 2017 and an $80 million round in June 2015, and it’s Sumo Logic’s largest round to date.

“We are excited to join Sumo Logic at this important moment in the industry-wide transition to cloud computing,” said Franklin Templeton’s Jonathan Curtis. “As the only cloud-native DevSecOps platform built to address the challenges of digital businesses, we believe Sumo Logic is well positioned to capture a significant share of its market.”

The infusion follows a breakout year in which Sumo Logic notched over $100 million in revenue and hit the 2,000-customer mark. It’s now valued at over $1 billion and has more than 500 employees, and counts among its client base Airbnb, Pinterest, The Pokemon Co., Samsung SmartThings, Zuora, ABinBev, Adobe, Alaska Airlines, BBC Genesys, Hearst Media, Infor, Levi’s Marriott, Pitney Bowes, and USA Today.

CEO Ramin Sayar says the funds will be used to expand Sumo Logic’s engineering, sales, and global operations teams, with an emphasis on extending the platform analytics capabilities of its various services. “Sumo Logic’s growth is driven by the shift to digital business and cloud adoption across all industries and companies of all sizes,” added Sayar. “We have proven that we are the platform of choice for not only cloud-native companies, but also enterprise companies and their cloud migration initiatives.”

Toward that end, Sumo Logic’s software-as-a-service (SaaS) platform — which spans 150 apps and integrations — provides analytics and insights to help clients build, run, and secure apps and cloud infrastructures.