Sumo Logic completes $110 Million funding round

Cloud-native, machine data analytics platform, Sumo Logic, has announced a $110 million (£84.5m) funding round led by Battery Ventures, with contributions from new investors including Tiger Global Management and Franklin Templeton, as well as participation from existing investors.

Sumo Logic helps DevOps team understand how their applications are running, whether they are secure, and to provide information and analysis out to the rest of the business.

Ramin Sayar, president and CEO, Sumo Logic, said: “Sumo Logic’s growth is driven by the shift to digital business and cloud adoption across all industries and companies of all sizes.

“We have proven that we are the platform of choice for not only cloud-native companies, but also enterprise companies and their cloud migration initiatives. It’s great to have such a powerful set of leading investors and ecosystem partners as we accelerate our category leadership.”

The new investments will continue to fuel Sumo Logic’s business, with an emphasis on extending the platform analytics capabilities of its service. These new capabilities address the operational, security and business requirements of businesses as they adopt new multi-cloud and hybrid-cloud infrastructure, architecture, tools, and processes.

Dharmesh Thakker, general partner, Battery Ventures, said: “We have been tracking the Sumo Logic team for some time, and admire the company’s early understanding of the massive cloud-native opportunity and the rise of new, modern application architectures.”

Jonathan Curtis, Vice President, Franklin Templeton, said: “We are excited to join Sumo Logic at this important moment in the industry-wide transition to cloud computing. As the only cloud-native DevSecOps platform built to address the challenges of digital businesses, we believe Sumo Logic is well positioned to capture a significant share of its market.”

Since the last funding round in June 2017, Sumo Logic’s business has scaled significantly as a result of its focused multi-year growth strategy.