UCD spin-out Logentries secures $10m in financing
University College Dublin (UCD) cloud-based spin-out Logentries has secured $10m in Series A financing and named Andrew Burton as president and CEO.
Co-founded in 2010 by Dr Trevor Parsons and Dr Viliam Holub, Logentries is a service provider for collecting and analysing huge quantities of machine-generated log data.
It currently actively services over 10,000 users across more than 100 countries, processing more the 20 billion log events per day.
The financing round was led by Polaris Partners, along with Floodgate, Frontline Ventures and RRE Ventures.
Logentries will use the funds to accelerate product development and aggressively drive a go-to-market strategy.
Unlike costly log management alternatives that require advanced technical skills to use, Logentries utilises a unique collective intelligence model to transform otherwise difficult-to-consume log data into actionable business and operational insights.
“With big data transforming businesses of all kinds, Logentries lets customers focus on the data that matter most, the less than 1pc of log entries that contain the game-changing information that’s hidden among the other 99pc,” said Burton.
“I’m excited to join the Logentries team where our goal is to harness the power of log data and make it accessible to anyone.”
UCD graduate Burton came from LogMeIn, where he led all of its cloud-based access, collaboration and customer care product offerings, and helped lead LogMeIn from early stage, privately held start-up to a publicly traded company with offices around the world.
An Enterprise Ireland supported company, Logentries is headquartered in Boston’s innovation district, with offices in Dublin and Prague.