Parseable, a log analytical platform, has raised $2.75 million led by Surge, venture capital firm Peak XV’s scale up programme for early-stage start-ups, and NP-Hard Ventures.
The capital will be used to innovate handling log data generated by modern digital businesses and to speed up product development and deepen integration with other platforms.
By 2025, global data creation is predicted to surpass 180 zettabytes, according to Statista. This marks an almost 2x increase from 2022, the year Parseable was founded.
Founded by Nitish Tiwari, Parseable utilises cloud technology to handle, analyse, intake, and retain substantial amounts of log data. It uses open-source formats like Apache Parquet and Apache Arrow for easier data processing.
“Every company I spoke to was frustrated about the cost & 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,” said Nitish Tiwari founder, Parseable.
Parseable has launched version 1.0 of its platform, featuring a scalable data ingestion mode and Azure Blob Store support.
It addresses cloud native from the ground up as it is designed to fully exploit the benefits of cloud computing, including scalability, reliability, and flexibility. Unlike traditional log management systems that may struggle to scale or incur high costs as data volumes grow, Parseable leverages fundamental cloud components like storage and compute that allow it to dynamically adjust resources to meet demand. This scalability ensures that businesses can manage their data effectively, regardless of volume, without worrying about the infrastructure overhead.
(Inputs from BL intern Meghna Barik)