Log analytics firm Parseable raises $2.75 million from Peak XV's Surge
ETtech
Synopsis
Nitish Tiwari launched Parseable in 2022. The company focuses on helping businesses handle the growing challenge of log data by storing, managing, and analyzing it using cloud-based solutions. Parseable makes use of open-source formats like Apache Parquet and Apache Arrow to ensure data can be processed and work seamlessly with other systems.
By ETtech
Last Updated:
Parseable, a cloud-native log analytics platform, has raised $2.75 million in a seed funding round led by Surge, venture capital firm Peak XV’s scale up programme for early-stage startups, with participation from Amsterdam-based venture capital fund NP-Hard Ventures.
Founded by Nitish Tiwari in 2022, Parseable specialises in managing, storing, and analysing large volumes of log data using cloud technology. It leverages open-source formats such as Apache Parquet and Apache Arrow for data processing and interoperability.
Parseable highlighted the challenges faced by traditional log management systems in scaling to meet modern demands, which result in escalating costs as data volumes grow. This operational cost hurdle often impedes companies' effective management and analysis of such data, which, if properly analysed, can provide valuable insights into application performance, user behaviour, and potential security threats.
“Every company I spoke to was frustrated about the cost and complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure,” Tiwari said.
Surge, known for backing early-stage ventures from India, Singapore, and Australia, provides up to $3 million in seed capital and also offers company-building workshops, a global curriculum, and support from a community of mentors and founders. It focuses on ventures in sectors like deeptech, artificial intelligence, advanced manufacturing, and quantum computing.
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The investment will be used to enhance the company’s ability to manage the escalating volumes of log data produced by modern digital enterprises, Parseable said in a statement on Tuesday.Elevate Your Tech Prowess with High-Value Skill Courses
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Parseable highlighted the challenges faced by traditional log management systems in scaling to meet modern demands, which result in escalating costs as data volumes grow. This operational cost hurdle often impedes companies' effective management and analysis of such data, which, if properly analysed, can provide valuable insights into application performance, user behaviour, and potential security threats.
“Every company I spoke to was frustrated about the cost and complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure,” Tiwari said.
Surge, known for backing early-stage ventures from India, Singapore, and Australia, provides up to $3 million in seed capital and also offers company-building workshops, a global curriculum, and support from a community of mentors and founders. It focuses on ventures in sectors like deeptech, artificial intelligence, advanced manufacturing, and quantum computing.
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