Silicon Valley startup LogDNA has announced a raise of $25 million in investment in their latest round of funding. Alongside the announcement, former co-founder Chris Nguyen will be stepping down from his role as CEO, to be replaced by former president, Chief Revenue Officer and industry veteran Tucker Callaway. Nguyen will stay on as LogDNA’s Chief Strategy Officer.
Emergence Capital led the series C funding with previous investors Initialized Capital and Providence Equity. New investors included TI Platform Management, Radianx Capital, Top Tier Capital and Trend Forward Capital. According to the company, this brings LogDNA’s total to $60 million.
The log management platform developer is designed to provide DevOps with a centralized way to manage mountains of log data; providing a streamlined interface that allows developers to narrow down log lines using simplified and easy-to-pinpoint filters to make troubleshooting issues easier and getting applications out faster.
While the company has plenty of competition — including Scalyr, Logly, Sumo Logic, etc, they have managed to land large accounts in recent years with companies such as Virgin Australia, IBM Cloud and Lime, which is due in part to their unique and attractive pricing scheme. Smaller companies are offered a free version of the tool, while others pay per gigabyte.
LogDNA plans to invest in all aspects of its growth, and feel confident placing Callaway behind the wheel in the midst of the pandemic. Speaking to TechCrunch, Nguyen said “When we closed the latest round of funding and looked at what the journey forward looks like, there was just a lot of trust and confidence from my co-founder, the board of directors, all of the investors on the team that Tucker is the right leader.”
He’s probably right; with over 3000 customers using the product, plus a strategic partnership with IBM to provide logging services for IBM Cloud, this fresh round of funding is a big win for the future of LogDNA.