Parseable Raises $2.75M In Seed Round Led By Surge And NP-Hard Ventures

(MENAFN- ForPressRelease) 7 May 2024: Bengaluru-based Parseable announced a seed funding round of US$2.75 million led by Surge and NP-Hard Ventures, earmarking its entry into the expanding log analytics market. This investment is set to fuel Parseable's mission to innovate in handling the surging volumes of log data generated by modern digital businesses.

The vast amount of data being generated and captured worldwide is forecasted to continue expanding, with global data creation to surpass 180 zettabytes by 2025. As the digital footprint of businesses expands, the concept of log analytics has become increasingly critical. Such data, if analysed and utilised properly, can offer invaluable insights into application performance, user behaviour, and potential security threats. However, the challenge has been in efficiently managing and analysing this data without incurring high operational costs or sacrificing scalability and flexibility.

Parseable addresses these challenges head-on by being cloud native from the ground up. This means the platform is designed to fully exploit the benefits of cloud computing, including scalability, reliability, and flexibility. Unlike traditional log management systems that may struggle to scale or incur high costs as data volumes grow, Parseable leverages fundamental cloud components like storage and compute that allow it to dynamically adjust resources to meet demand. This scalability ensures that businesses can manage their data effectively, regardless of volume, without worrying about the infrastructure overhead.

Parseable uses open formats such as Apache Parquet and Apache Arrow, which are crucial for breaking down the silos of data that typically exist within organizations. By adopting these open standards, Parseable ensures log data is not just accessible but also interoperable, making it easier to integrate with other tools and systems. This openness facilitates a more unified data ecosystem, where businesses can get insights from logs and other data sources together, enhancing overall business intelligence.

Nitish Tiwari, founder of Parseable, said, "Every company I spoke to was frustrated about the cost & complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure." The rise of open table formats like Iceberg and Delta Lake, with S3 as persistence on one side; and open application log formats like OpenTelemetry on the other side are a clear testament to this shift.

"We're very excited to partner up with Parseable and support them in their journey to supercharge log analytics with their developer-first approach to observability", said Micha "mies" Hernandez van Leuffen, cofounder and partner at NP-Hard Ventures.

As businesses continue to generate vast quantities of log data, it is increasingly evident that there is a need for innovative, efficient, and scalable log analytics solutions like Parseable. With its cloud-based design, commitment to open formats, and focus on scalability and flexibility, Parseable offers a promising solution that meets the demands of the modern digital landscape, enabling organizations to unlock the full potential of their log data.


About Parseable

Parseable Inc, is the core developer of Parseable, the modern, cloud native log analytics platform. Parseable is built from the ground up, to enable businesses to deploy large scale log data workloads in environments of their choice, while capturing as much value from their log data as possible. Parseable is used across the globe by leading fintechs, cybersecurity firms, healthcare and more.


About Peak XV

Peak XV (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. Peak XV (pronounced Peak Fifteen) was the name used for Mount Everest before it was called that. Over the last 18 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies. The portfolio has seen 20 IPOs and multiple successful M&As, resulting in USD 4.6 billion in realized exits so far.


About Surge

Surge is Peak XV's rapid-scale-up program. Surge combines up to USD 3 Mn of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders. The program's goal is to supercharge early-stage startups in India and Southeast Asia and give founders an unfair advantage, right out of the gate.

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