{"id":15049,"date":"2019-05-08T13:23:23","date_gmt":"2019-05-08T13:23:23","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/sumo-logic-announces-110m-series-g-investment-on-valuation-over-1b.html"},"modified":"2019-05-08T13:23:23","modified_gmt":"2019-05-08T13:23:23","slug":"sumo-logic-announces-110m-series-g-investment-on-valuation-over-1b","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/sumo-logic-announces-110m-series-g-investment-on-valuation-over-1b.html","title":{"rendered":"Sumo Logic announces $110M Series G investment on valuation over $1B"},"content":{"rendered":"

Sumo Logic<\/a>, a cloud data analytics and log analysis company, announced a $110 million Series G investment today. The company indicated that its valuation was \u201cnorth of a billion dollars,\u201d but wouldn\u2019t give an exact figure.<\/p>\n

Today\u2019s round was led by Battery Ventures <\/a> with participation from new investors Tiger Global Management and Franklin Templeton. Other unnamed existing investors also participated according to the company. Today\u2019s investment brings the total raised to $340 million.<\/p>\n

When we spoke to Sumo Logic <\/a> CEO Ramin Sayer at the time of its $75 million Series F<\/a> in 2017, he indicated the company was on its way to becoming a public company. While that hasn\u2019t happened yet, he says it is still the goal for the company, and investors wanted in on that before it happened.<\/p>\n

\u201cWe don\u2019t need to capital. We had plenty of capital already, but when you bring on crossover investors and others in this this stage of a company, they have minimum check sizes and they have a lot of appetite to help you as you get ready to address a lot of the challenges and opportunities as you become a public company,\u201d he said.<\/p>\n

He says the company will be investing the money in continuing to develop the platform, whether that\u2019s through acquisitions, which of course the money would help with, or through the company\u2019s own engineering efforts.<\/p>\n

The IPO idea remains a goal, but Sayer was not willing or able to commit to when that might happen. The company clearly has plenty of runway now to last for quite some time.<\/p>\n

\u201cWe could go out now if we wanted to, but we made a decision that that\u2019s not what we\u2019re going to do, and we\u2019re going to continue to double down and invest, and therefore bring some more capital in to give us more optionality for strategic tuck-ins and product IP expansion, international expansion \u2014 and then look to the public markets [after] we do that,\u201d he said.<\/p>\n

Dharmesh Thakker, general partner at investor, Battery Ventures says his firm likes Sumo Logic\u2019s approach and sees a big opportunity ahead with this investment. \u201cWe have been tracking the Sumo Logic team for some time, and admire the company\u2019s early understanding of the massive cloud-native opportunity and the rise of new, modern application architectures,\u201d he said in a statement.<\/p>\n

The company crossed the $100 million revenue mark last year and has 2000 customers including Airbnb, Anheuser-Busch and Samsung. It competes with companies like Splunk, Scaylr and Loggly.<\/p>\n

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Sumo Logic lands $75 million Series F, on path to IPO<\/a><\/p>\n<\/blockquote>\n

\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/QoW4JT6DJ7M\/<\/p>","protected":false},"excerpt":{"rendered":"

Sumo Logic, a cloud data analytics and log analysis company, announced a $110 million Series G investment today. The company indicated that its valuation was \u201cnorth of a billion dollars,\u201d <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-15049","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t