Parseable, a cloud-native log analytics platform, announced raising $2.75 million in a seed funding round. Surge, a venture capital firm, led the funding, with participation from NP-Hard Ventures, an Amsterdam-based venture capital fund.
The funding will help Parseable improve its capability to handle the increasing volumes of log data generated by modern digital enterprises, the company stated in a press release.
Founded by Nitish Tiwari in 2022, Parseable specializes in managing, storing, and analyzing large volumes of log data using cloud technology. It utilizes open-source formats like Apache Parquet and Apache Arrow for data processing and interoperability.
The log analytics firm Parseable has emphasized the difficulties encountered by traditional log management systems in scaling to meet contemporary demands. As data volumes increase, these systems often face rising costs. This obstacle in operational costs frequently hinders companies’ ability to effectively manage and analyze such data. However, analyzing this data appropriately can offer valuable insights into application performance, user behavior, 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, renowned for supporting early-stage ventures across India, Singapore, and Australia, offers up to $3 million in seed capital. Additionally, it provides company-building workshops, a global curriculum, and support from a community of mentors and founders. Surge primarily focuses on ventures in sectors such as deeptech, artificial intelligence, advanced manufacturing, and quantum computing.
