Observability startup Coralogix becomes a unicorn, eyes India expansion

CoralogixAn Israeli startup offering a comprehensive observability and security platform, has collected $ 115 million to an assessment of more than a billion dollars, double in three years from its Last round in 2022.

With the influx of money, the startup seeks to extend its engineering base in India and develop its AI agent.

The round e All-Equity and All Primary is directed by the California-based capital growth company, Newview Capital, with the participation of Canada Pension Plan Investment Board and Nextequity, the venture capital company founded by former Apple Deple Directors and Fred Anderson.

Observability of data has become more and more important these days, as more and more companies store and take advantage of data to take advantage of the advantages of AI. However, everyone in a business does not have time or resources to investigate a problem or make an important decision according to their data flow. Coralogix aims to resolve this challenge with its AI observability agent, Olly.

The agent uses a semantic layer that incorporates internal data, including metadata, as well as external sources, such as information available on the Internet, to help companies understand complex problems, such as identification of slow service causes or the most common system resolution, using simple text guests.

Trained to answer broader questions than what is wrong, the AI ​​agent can help customers if they want to know what feature causes the most frustration to customers, how much these customers pay, or who is his account representative who can work with them, said Coralogix co -founder and CEO, Ariel Assaraf, in an interview.

Olly includes features such as anomalies detection, access monitoring and real -time alerts to automate data observability for customers. It was developed by the Coralogix AI Research Center, which it now aims to develop through its new capital.

In parallel with its AI agent, Coralogix provides observability and railings to AI companies, offering them an overview of the performance of their models, as well as the quality, security and governance of their responses. All this came Acoria acquisition in December 2024.

“There is an opportunity for us, given our architecture of analysis of the request for the flow to distant and lower costs. We will invest a lot and build the IA research center,” said Assaraf.

The startup plans to take advantage of the Indian engineering base for its AI ambitions, aimed at investing around $ 100 million in the country over the next five years. The investment is planned to extend its office to Gurugram and hire more staff in Bengaluru and Mumbai to build engineering, R&D and customer success teams.

Among the overall staff of nearly 550 employees, Coralogix has around 250 people in Israel and 100 in India. It plans to double the base of Indian employees over the next three years.

“Because we just see a very good adjustment between the Israeli engineering culture and the culture of Indian engineering, it is a very independent Grenail, very committed to the type of mission engineering that we see a very good adjustment for us to develop,” Assaraf told Techcrunch.

The South Asian market is also the second market of the startup in terms of income and user basis, with more than 100 customers, after the United States, said the executive.

Indian companies such as Postman, Jupiter Money, Meesho, Bookmyshow, Bharatpe, Coindcx and Razorpay are among the customers of Coralogix. It also serves banks and businesses and seeks to exploit the Indian government as its next big customer. In addition, the startup envisages the acquisition of Indian startups to extend its footprint in the country.

“We talked about a lot of Indian companies and potential acquisitions to a lot of Indian companies, but nothing was really filled. It could be a very good way for us to get a solid basic team when we think of extending our engineering,” Assaraf told Techcrunch.

In June 2022, Coralogix lifted $ 142 million in a series of series co-directed by Advent International and Brighton Park Capital. Since then, Assaraf has said that the startup had experienced 7x growth in its income, although it is not yet profitable.

The startup, which considers Datadog as its key competitor, aims to file an introduction on the American stock market on Nasdaq in three years.

“Our objective is that we build this new way of architecture, analyzing the request for the flow from distance, this new way of customer engagement, these new geographies in which we are invested now, also this new IA experience, how you monitor AI and how you use AI to monitor,” said Assaraf. After showing progress on these fronts, he will explore an IPO, he added.

The last round also saw the participation of existing investors in Coralogix, notably Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, OG Tech, Joule Capital Partners and Maor Investments.