Coralogix Raises $115M, Launches AI Agent 'Olly' to Revolutionize Data Observability

Observability startup Coralogix becomes a unicorn, eyes India expansion | TechCrunch

Coralogix, an Israeli startup offering a full-stack observability and security platform, has raised $115 million at a pre-money valuation of over $1 billion, almost doubling in three years from its last round in 2022. With the influx of cash, the startup is looking to expand its engineering base in India and develop its AI agent. The all-equity and all-primary Series E round is led by California-based venture growth firm NewView Capital, with participation from the Canada Pension Plan Investment Board and NextEquity, the venture firm founded by former Apple executives Avie Tevanian and Fred Anderson. Data observability has become increasingly important nowadays as more companies store and leverage data to capitalize on the benefits of AI. However, not everyone in a company has the time or resources to thoroughly investigate an issue or make an important decision based on their data stream. Coralogix aims to solve this challenge with its AI observability agent, Olly. The agent utilizes a semantic layer that incorporates internal data, including metadata, along with external sources, such as information available on the internet, to assist companies in understanding complex issues, such as identifying the causes of slow service or resolving the most common system errors, by using simple text prompts. Trained to answer broader questions than just what is going wrong, the AI agent can help customers if they want to know which feature is causing customers the most frustration, how much these customers are paying, or who their account representative is that can work with them, Coralogix co-founder and CEO Ariel Assaraf said in an interview. Olly includes features such as anomaly detection, access monitoring, and real-time alerts to automate data observability for customers. It was developed by Coralogix's AI research center, which it now aims to expand through its new capital. Alongside its AI agent, Coralogix provides observability and guardrails to AI companies, offering them insights into the performance of their models, as well as the quality, security, and governance of their responses. All this came through Aporia's acquisition in December 2024. "There's an opportunity for us, given our architecture of analyzing stream query from remote, lower costs. We're going to invest a lot there and build out the AI research center bigger," Assaraf said. The startup plans to leverage India's engineering base for its AI ambitions, aiming to invest about $100 million in the country over the next five years. The investment is planned to expand its office in Gurugram and hire more staff in Bengaluru and Mumbai to build engineering, R&D, and customer success teams. Of its overall headcount of nearly 550 employees, Coralogix has about 250 people in Israel and 100 in India. It plans to double the Indian employee base over the next three years. "Because we see just a really good fit between the Israeli engineering culture and Indian engineering culture, it's a get-it-done, very independent, very committed to the mission type of engineering that we see a very good fit for us to expand into," Assaraf told TechCrunch. The South Asian market is also the startup's second-largest market in terms of revenue and user base, with over 100 customers, after the U.S., the executive said. Indian companies such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, and Razorpay are among Coralogix's customers. It also serves banks and enterprises and is looking to tap the Indian government as its next big client. Furthermore, the startup is eyeing the acquisition of Indian startups to expand its footprint in the country. "We have spoken to quite a few Indian companies about the potential M&A, but nothing has really been fulfilled. It could be a very good and easy way for us to get a strong core team as we think about expanding our engineering," Assaraf told TechCrunch. In June 2022, Coralogix raised $142 million in a Series D round co-led by Advent International and Brighton Park Capital. Since then, Assaraf said the startup has seen 7x growth in its revenues, although it's not yet profitable. The startup, which views Datadog as its key competitor, aims to file for a U.S. IPO on Nasdaq in three years. "Our goal is we build this new way of architecture, analyzing stream query from remote, this new way of customer engagement, these new geographies that we're invested in now, also this new AI experience, how you monitor AI and how you use AI to monitor," Assaraf said. After it can show progress on these fronts, it will explore an IPO, he added. The latest round also saw participation from Coralogix's existing investors, including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Tech, Joule Capital Partners, and Maor Investments.

Data analytics startup Coralogix doubles valuation to over $1 billion in latest funding round

June 17 (Reuters) - Data analytics platform Coralogix nearly doubled its valuation to over $1 billion in its latest funding round, co-founder and CEO Ariel Assaraf told Reuters in an interview, as artificial intelligence-driven enterprise offerings continue to pique investor delight. Coralogix raised $115 million in a round led by California-based venture growth firm NewView Capital, the startup said on Tuesday. Canada Pension Plan Investment Board (CPPIB) and venture firm NextEquity also participated in the round. The fundraise comes three years after Coralogix's previous external funding in 2022, where it raised $142 million. Valuations have faced downward pressure since then, as investors continue to sit on dry powder amid elevated interest rates and geopolitical tensions. Enterprise software-as-a-service startups, however, have endured a wider slowdown in venture capital funding, with an AI gold-rush pushing SaaS financing to record $58 billion in the first quarter, according to PitchBook. Coralogix's revenue increased seven times since 2022, Assaraf told Reuters. The company, however, is yet to be profitable, with nearly 75% of its revenue in 2024 going towards research and development, according to Assaraf. "Successful companies in our space always invest a large portion of their revenue in R&D and were very late to become profitable," Assaraf added, noting a similar pathway across peers Datadog (DDOG.O), opens new tab and Splunk. Startups are integrating AI-driven agents across IT development and operations as enterprises increasingly ask for all-in-one platforms to oversee their entire cloud infrastructure and processes. Coralogix expanded into AI observability with the acquisition of Aporia in December 2024. The company is aggressively looking to expand its AI talent pool, Assaraf said. "If there's a strategic acquisition of a company with a specific, very talented pool of people around AI, we will make those acquisitions, even if they're not small," he told Reuters. On Tuesday, Coralogix also unveiled its new AI agent "olly," aiming to simplify data monitoring via a conversational platform. Industry leaders have hailed AI-based agents as a transformative use case of the technology. Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Alan Barona Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Technology Arasu Kannagi Basil Thomson Reuters Basil writes stories across the U.S. finance file including banks, asset managers, payment firms, insurers, and exchange operators. He also covers initial public offerings on U.S. exchanges and venture capital funding.

Israel's Coralogix Raises $115M, Expands AI and Tech Jobs in India with $1B Valuation | AIM

Businessman study financial report. Concept for business, finance, market research, analytics and statistics, marketing. Israeli tech company Coralogix on Tuesday raised $115 million in a new funding round, bringing its valuation to over $1 billion. The company is a modern, full-stack observability platform transforming how businesses process and understand their data. A major part of this funding will go towards expanding the company's AI capabilities and tech workforce in India, particularly in Gurgaon, Bangalore, and Mumbai. The funding round was led by NewView Capital, with backing from Canada Pension Plan Investment Board (CPPIB) and NextEquity, a firm started by former Apple executives. Existing investors like Advent International, Brighton Park Capital, and others also participated. "With this round, we aim to expand our Indian presence significantly, including building cutting-edge AI capabilities, deepening partnerships, and creating additional high-value tech jobs," Ariel Assaraf, CEO and co-founder of Coralogix, said. Coralogix provides tools that help companies monitor their digital systems and spot problems in real-time. In India, it already works with major players like Meesho, Postman, Razorpay, BookMyShow, BharatPe, and Delhivery. The company also plans to use this funding to grow in sectors like banking, telecom, logistics, and education technology -- areas that are rapidly adopting digital solutions. Additionally, it is looking to partner with major cloud service providers and invest in its data infrastructure in Mumbai to help Indian companies meet data and privacy requirements. "This investment in India will not only create world-class capabilities but also contribute to the local tech ecosystem," said Navdeep Manaktala co-founder of Snowbit and president, APAC, Coralogix. The Gurgaon office will become a major hub for AI research and product development. Over the next five years, Coralogix aims to create hundreds of high-skilled jobs in roles like AI, cloud security, data science, and enterprise sales. The announcement follows Coralogix's acquisition of Aporia in December 2024 and the launch of the Coralogix AI Center, which focuses on helping companies not just with system performance, but also with data quality, security, and governance. "This funding round validates our momentum and helps us push the boundaries of AI-driven observability, enabling smarter decisions and faster innovation across the business," Yoni Farin, CTO of Coralogix said. With India's observability market expected to triple in size by 2030, Coralogix believes its new AI agent Olly, designed to detect system issues and improve security in real time, will be a key part of its growth in the country.

Coralogix gets $115M in funding to pioneer agentic AI-powered observability - SiliconANGLE

Coralogix gets $115M in funding to pioneer agentic AI-powered observability Coralogix Ltd. says it's going to automate and extend the value of its observability tools to every business worker after closing on a $115 million late-stage funding today. The Series E round coincides with the launch of its first artificial intelligence agent, called "olly," which enables nontechnical users to explore the full power of its platform. Today's round was led by NewView Capital and saw participation from the Canada Pension Plan Investment Board and NextEquity, a venture firm founded by former Apple Inc. executives Avie Tevanian and Fred Anderson. Numerous existing investors also participated, including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Tech, StageOne Ventures, Joule Capital Partners and Maor Investments. With today's round, Coralogix is now valued at more than $1 billion. The company is the creator of a "full-stack observability" platform that's used by organizations to find and fix technical issues with their information technology infrastructure. It works by scanning the telemetry data created by IT and cloud systems, analyzing it for any signs of problems. It primarily aims to catch potential issues before they cause applications and software to stop working properly. Until now, Coralogix's platform has generally been used by DevOps teams and IT infrastructure engineers. With the launch of olly, it wants to change that and enable anyone, including business leaders, product managers and other staff, to participate in observability. The idea with olly is to simplify observability by making it accessible in a conversational way. According to the company, olly will actively guide users through any questions they have, surface relevant insights and recommend next steps they can take to try and fix issues that occur with their applications. It says that by allowing nontechnical users to participate in this process, it's transforming observability into an intelligent system that can accelerate decision making and increase value and productivity for businesses. As an example, Coralogix said users can ask olly questions about specific problems they come across, such as "What is wrong with the payment flow?" It will do its best to explain the problem, and suggest a way to fix it, in plain English. In addition, users can also ask more holistic questions, such as "Which service is frustrating users the most?". They can then set about resolving problems without needing to bring in technical expertise. The company says olly can also help technical users to understand the "why" behind system failures. By consolidating and interpreting system logs, metrics and traces, it can save them time that would otherwise be spent on manual analysis, for example. "Olly is more than just an observability tool," said Coralogix Chief Executive Ariel Assaraf. "It's an intelligent assistant that empowers employees to gain full access to all their data and make better decisions." The launch of olly is just the latest in a string of important updates to the Coralogix platform, with many of them stemming from its acquisition of the AI observability startup Aporia Inc. last December. In March, it announced the Coralogix AI Center, an AI-powered observability tool that extends its insights beyond application performance to quality, governance and security. Then in May, it announced a new "Continuous Profiling" capability that delivers real-time visibility into application performance without any code changes or production impact. It's an effort to address the limitations of traditional code profiling tools, which often introduce performance overhead and require intrusive changes to application code. Assaraf said the company's investors understand that AI is going to have a transformative impact on observability, and they believe it's in pole position to deliver on that promise. "No other vendor is driving innovation and development at our scale," he said.

Coralogix Debuts AI Agent After Raising $115 Million | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. The company nearly doubled its valuation to more than $1 billion in its latest funding round, Co-founder and CEO Ariel Assaraf said in a Tuesday (June 17) Reuters interview. The interview came as the company announced it had raised $115 million in a round led by California-based venture growth firm NewView Capital, with participation from the Canada Pension Plan Investment Board (CPPIB) and venture firm NextEquity. Coralogix last raised funds in 2022, taking in $142 million. Since then, the Reuters report notes, valuations have slid as investors show caution amid elevated interest rates and geopolitical upheaval. However, a recent frenzy for artificial intelligence (AI) has led to an uptick in funding for software-as-a-service (SaaS) firms. These companies took in a record $58 billion in the first quarter, the report added, citing data PitchBook. Coralogix's revenue has risen seven times since 2022, Assaraf told Reuters, though the company remains unprofitable, with close to three-quarters of its revenue going toward research and development last year. "Successful companies in our space always invest a large portion of their revenue in R&D and were very late to become profitable," Assaraf added. Also Tuesday, Coralogix introduced its new AI agent, "Olly," designed to simplify data monitoring using a conversational platform. "Olly makes deep observability data accessible to every team. Whether you ask, 'What is wrong with the payment flow?' or 'Which service is frustrating our users the most?' Olly translates those questions into detailed, system-level answers," the company wrote on its blog. PYMNTS examined the use of AI agents in the world of finance earlier this month in a conversation with Greenlite AI CEO Will Lawrence. After two decades defined by rule-based systems and machine learning, the 2020s are "the agentic era of compliance," Lawrence told PYMNTS CEO Karen Webster. The shift has a range of implications. Trust is critical for regulated financial institutions. Mistakes can bring about not just declined transactions but open the door to risk regulatory exposure. "Right now, banks are getting more risk signals than they can investigate," Lawrence said. "Digital accounts are growing. Backlogs are growing. Detection isn't the problem anymore -- it's what to do next." "AI is only scary until you understand how it works," he added. "Then it's just a tool -- like a calculator. We're helping banks understand how to use it safely."

Data analytics startup Coralogix doubles valuation to over US$1 billion in latest funding round

Data analytics platform Coralogix nearly doubled its valuation to over US$1 billion in its latest funding round, co-founder and CEO Ariel Assaraf told Reuters in an interview, as artificial intelligence-driven enterprise offerings continue to pique investor delight. Coralogix raised US$115 million in a round led by California-based venture growth firm NewView Capital, the startup said on Tuesday. Canada Pension Plan Investment Board (CPPIB) and venture firm NextEquity also participated in the round. The fundraise comes three years after Coralogix's previous external funding in 2022, where it raised US$142 million. Valuations have faced downward pressure since then, as investors continue to sit on dry powder amid elevated interest rates and geopolitical tensions. Enterprise software-as-a-service startups, however, have endured a wider slowdown in venture capital funding, with an AI gold-rush pushing SaaS financing to record US$58 billion in the first quarter, according to PitchBook. Coralogix's revenue increased seven times since 2022, Assaraf told Reuters. The company, however, is yet to be profitable, with nearly 75 per cent of its revenue in 2024 going towards research and development, according to Assaraf. "Successful companies in our space always invest a large portion of their revenue in R&D and were very late to become profitable," Assaraf added, noting a similar pathway across peers Datadog and Splunk. Startups are integrating AI-driven agents across IT development and operations as enterprises increasingly ask for all-in-one platforms to oversee their entire cloud infrastructure and processes. Coralogix expanded into AI observability with the acquisition of Aporia in December 2024. The company is aggressively looking to expand its AI talent pool, Assaraf said. "If there's a strategic acquisition of a company with a specific, very talented pool of people around AI, we will make those acquisitions, even if they're not small," he told Reuters. On Tuesday, Coralogix also unveiled its new AI agent "olly," aiming to simplify data monitoring via a conversational platform. Industry leaders have hailed AI-based agents as a transformative use case of the technology. ---