Bengaluru-based Parseable, a log analytical platform, has announced a seed funding round of $2.75 million led by Surge and NP-Hard Ventures. This investment will help Parseable improve how they handle the increasing amounts of log data from modern digital businesses.
The vast amount of data being generated and captured worldwide is forecast to continue expanding, with global data creation to surpass 180 zettabytes by 2025. As the digital footprint of businesses expands, the concept of log analytics has become increasingly critical.
Such data, if analysed and utilised properly, can offer invaluable insights into application performance, user behavior, and potential security threats. However, the challenge has been efficiently managing and analyzing this data without incurring high operational costs or sacrificing scalability and flexibility.
Parseable intends to address these challenges by being cloud native from the ground up. This means the platform is designed to fully exploit the benefits of cloud computing, including scalability, reliability, and flexibility. As per the company, Parseable uses open formats such as Apache Parquet and Apache Arrow, which are crucial for breaking down the silos of data that typically exist within organisations.
Nitish Tiwari, founder of Parseable, said, “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 toward moving away from siloed data infrastructure.”
Known for supporting early-stage businesses in Australia, Singapore, and India, Surge gives up to $3 million in seed money in addition to company-building seminars, a global curriculum, and assistance from a network of founders and mentors. It concentrates on business endeavors in fields such as quantum computing, deep technology, AI, and sophisticated manufacturing.
