Loggly, the cloud-based log management provider that claims over 2,500 customers, has announced the close of a $5.7 million round of Series B funding led by True Ventures, Trinity Ventures and Matrix Partners.

And if that’s not enough, the two-year-old company has announced that industry veterans Charlie Oppenheimer (most recently CEO of Qualcomm acquisition Digital Fountain) and Jim Nisbet (former RSA Chief Technologist) as CEO and CTO/VP of Engineering, respectively.

To hear Oppenheimer tell it, modern IT infrastructures are just getting far too complex, especially in the age of web apps. Between Apache Hadoop, cloud infrastructure stacks, large-scale web applications, and so on, it’s absolutely vital to have a top-down view into application performance. But most monitoring solutions are designed with the idea of keeping track of specific apps on specific servers, Oppenheimer says, which just doesn’t suit modern applications.

Which is where Loggly comes in. By automatically consolidating massive amounts of logs and analyzing them in real-time, DevOps and operations pros get insight into exactly what’s going on with their web applications at all times, across those same complex infrastructures. And as a cloud application, Oppenheimer says that Loggly can scale as needed while maintaining speed.

Of note is the fact that Loggly doesn’t use Hadoop or any major vendor’s MapReduce implementation to crunch the huge amount of log data it takes in. Other than a little bit of NoSQL by way of Riak, Loggly’s run its own stack. Hadoop itself is just too slow for the real-time visibility that Loggly makes its stock in trade, Oppenheimer says.

Loggly often gets compared to highly-visible competitors like Splunk (In fact, Loggly was founded by ex-Splunk employees), but Oppenheimer says that the application log management market is only growing, and the rising tide is lifting all ships. There’s a “massive opportunity and massive possibility” in solving the problem of log management, and the whole space is heading for disruption, he says.