The cloud-native log analytics platform Parseable, based in India, has raised US$2.75 million in a seed fundraising round headed by NP-Hard Ventures, Surge, and Peak XV’s development programme.
The financing comes at a time when log data analytics is becoming more complex and expensive due to recent technological breakthroughs such as the emergence of big language models and the increasing use of cloud-based systems.
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According to Statista, the amount of data created globally is expected to exceed 180 zettabytes by 2025. Compared to 2022—the year Parseable was founded—this is an almost twofold increase.
Nitish Tiwari founded Parseable, a cloud-based platform that stores, processes, searches, and ingests massive amounts of log data. For simpler data processing, it makes advantage of open-source formats like Apache Parquet and Apache Arrow.
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The corporation claimed in a statement that existing observability and log systems are unable to keep up with contemporary needs. It was also mentioned that SaaS-based solutions are frequently expensive due to the high expenses associated with large-scale data ingestion, query, and retention, and that obsolete architecture reduces the effectiveness of older products in using contemporary cloud infrastructure.
“We see a foundational shift of moving away from siloed data infrastructure,” Tiwari said in the statement.
This round’s proceeds will be put towards accelerating product development and strengthening platform integration. Additionally, Parseable has released version 1.0 of its platform, which supports Azure Blob Store and offers a scalable data intake mode.
About Parseable
Parseable is an open-source, user-friendly log analytics tool with excellent speed.
