08th May 2024 – Parseable Bengaluru-based startup has secured $2.75 million in seed funding, led by Peak XV’s Surge and NP-Hard Ventures. The investment will fuel Parseable’s efforts in managing the vast amount of log data produced by modern businesses.
Founded in 2022 by Nitish Tiwari, Parseable offers developers efficient tools to store and handle log data, crucial as businesses grapple with expanding data volumes.
Parseable’s focus lies in log analytics, which involves analyzing data from IT systems to gain insights into user behavior, detect issues, ensure security, and plan IT resources. Traditional systems often struggle with scalability and cost, but Parseable uses cloud technology to adapt to enterprise needs dynamically.
Nitish Tiwari, Parseable’s founder, noted widespread frustration with the expense and complexity of log analytics. Parseable’s use of open formats like Apache Parquet and Apache Arrow promotes data accessibility and interoperability, enabling seamless integration with other tools.
Parseable enters a log management market valued at $2.3 billion in 2021, projected to reach $4338.84 million by 2027. Its strategic approach positions it as a competitor to established giants like Microsoft’s Azure and Google Cloud, as well as SaaS platforms like SumoLogic and Splunk.
Conclusion
Parseable’s successful funding round and innovative approach to log management highlight its potential to make significant strides in the industry. With its focus on scalability, cost-effectiveness, and interoperability, Parseable is poised to become a key player in the evolving landscape of data management.
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