Parseable funding: Log analytics agency Parseable raises $2.75 million from Peak XV’s Surge

Parseable, a cloud-native log analytics platform, has raised $2.75 million in a seed funding spherical led by Surge, enterprise capital agency Peak XV’s scale up programme for early-stage startups, with participation from Amsterdam-based enterprise capital fund NP-Onerous Ventures.The funding shall be used to reinforce the corporate’s means to handle the escalating volumes of log knowledge produced by fashionable digital enterprises, Parseable mentioned in an announcement on Tuesday.

Based by Nitish Tiwari in 2022, Parseable specialises in managing, storing, and analysing massive volumes of log knowledge utilizing cloud expertise. It leverages open-source codecs akin to Apache Parquet and Apache Arrow for knowledge processing and interoperability.

Parseable highlighted the challenges confronted by conventional log administration techniques in scaling to satisfy fashionable calls for, which end in escalating prices as knowledge volumes develop. This operational price hurdle usually impedes corporations’ efficient administration and evaluation of such knowledge, which, if correctly analysed, can present useful insights into utility efficiency, consumer behaviour, and potential safety threats.

“Each firm I spoke to was pissed off about the fee and complexity of log analytics, whereas additionally trying to discover new methods to extract insights from their knowledge. We see a foundational shift of transferring away from siloed knowledge infrastructure,” Tiwari mentioned.

Surge, identified for backing early-stage ventures from India, Singapore, and Australia, supplies as much as $3 million in seed capital and in addition provides company-building workshops, a world curriculum, and assist from a group of mentors and founders. It focuses on ventures in sectors like deeptech, synthetic intelligence, superior manufacturing, and quantum computing.