Logz.io’s AI-powered IT analytics platform attracts $16M funding

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There are numerous cloud-based analytics tools out there that offer to help information technology administrators make better sense of their system data, but Logz.io Inc. is probably the only one that relies on the online programmer community Stack Overflow to do it.

The Israeli startup raised $16 million in funding today for its Cognitive Insights platform, which uses information from forums and other online sources to identify frequently occurring operational issues. Logz.io’s algorithms then correlate the data with the activity patterns of the technology professionals who rely on its service to find common points of interest. Every time users stumble upon a problem in their infrastructure, the system checks their logs against its database to single out the items that warrant the most attention.

Logz.io claims that its approach can speed up troubleshooting in a wide range of operational scenarios. If an online retailer’s shopping cart feature suddenly freezes, for instance, Cognitive Insights will highlight the logs that other companies usually check when they encounter a similar problem. Its machine learning algorithms can also surface relevant Stack Overflow threads that may contain useful tips for solving the issue. From there, administrators can use the platform’s manual diagnostics features to fill in any remaining blanks.

Logz.io’s value proposition is starting to attract a lot of attention. The startup has seen its revenues double year-over-year in each of the past four quarters and now claims more than 1,000 customers, including British Airways plc, Electronic Arts Inc. and other major brands.

The investment was led by expansion-stage investment fund OpenView and included contributions from both of Logz.io’s previous backers, 83North (formerly Greylock IL) and Giza Venture Capital. The startup has received a total of $23 million in outside funding to date.

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