CHAOSSEARCH Raises $9M in Series A Funding to Bring Order to Log and Event Data Analytics
Companies are generating log and event data based on their cloud based infrastructure at an extraordinary rate and it has been very difficult to analyze and store this data over the long haul. CHAOSSEARCH is changing the landscape with the first log search and analytics platform built for AWS S3.
Today, the company is announcing a $9M Series A funding with is co-led by .406 Ventures and Glasswing Ventures, with participation from existing investor, Stage 1 Ventures.
We connected with Les Yetton, a serial entrepreneur with multiple exits under his belt, to learn more about the company and the round of funding.
Keith Cline: Congratulations on your Series A round of funding. What are the details on this round of funding, and how do you plan to use the capital to accelerate the business?
Les Yetton: We closed a $9M Series A financing co-led by .406 Ventures and Glasswing Ventures, with participation from our seed investor, Stage 1 Ventures. We’ll be moving into a new space in Boston across from the TD Garden.
The infusion of new capital into CHAOSSEARCH will allow us to continue making investments in engineering the future of the product, along with a full complement of go-to-market support (Community, Marketing, Product, Sales, and Customer Success).
Also, we’re hiring, so if you are passionate about cloud and game changing technology, come join us – we’re hiring!
KC: What’s the background story of the company and its founders?
LY: Thomas Hazel and I got together the summer of 2016 when he approached me with a handful of concepts, algorithms, an idea for a product and some early code to address data scaling challenges associated with log management. He shared his vision of building a data fabric on top of AWS S3 to completely disrupt the log and event management space. We bootstrapped the company for a couple quarters before bringing in our seed financing and officially forming the company (originally as Chaos Sumo) in January 2017.
KC: What is the problem that CHAOSSEARCH is solving for companies?
LY: Log data is exploding. Most SaaS businesses started in the past 5 years are probably in the cloud and building on AWS. And as a SaaS service, they are generating a lot of log and event data on a daily basis, and it’s probably growing.
Traditional log management systems are super expensive, and most are based on a foundational layer that includes Elasticsearch as the underlying database. Elasticsearch is the primary component of the ELK Stack, which is rapidly becoming the de-facto standard open source set of tools for log management. But it is super expensive, and due to cost customers typically archive or delete data within a few days. But there’s value in that data.
What we’re doing here at CHAOSSEARCH is extending the ELK stack onto Amazon S3, basically turning S3 into a searchable Elastic cluster. We’ve built a platform that enables DevOps teams to store, search, query and visualize terabytes of historic log data on their existing AWS S3 infrastructure, reducing their data footprint and operational overhead and cutting operational costs by up to 80 percent.
It’s totally built for teams using the ELK Stack, we’ve extended the Elastic API onto S3, turning it into a warm ELK-compatible logging solution and opening up access to terabytes of log data with out-of-the box Kibana data visualizations.
KC: What are the key features of the CHAOSSEARCH platform?
LY: Key features of the CHAOSSEARCH platform include:
- Turns AWS S3 into a easy-to-use, searchable ELK compatible logging solution – with no changes required to existing ELK compatible applications
- Automates the discovery, organization and indexing of log and event data types and sources
- Visualizes hot and warm log clusters from a single Kibana instance
- Offers unlimited data retention, all securely within customer’s own AWS S3 infrastructure
- Enables integrated text search and relational queries from a single platform
- Empowers Machine Learning-based insights and predictive analysis with access to massive data sets over time
- Provides high performance at low cost with pricing starting as low as $20 per GB daily volume
KC: What's the size of your team now? What's your plan for hiring over the next year or so, and for what type of roles?
LY: We’re just 10 people now, but plan to grow to 25-30 people in 2019. We’ll be adding depth to the engineering team, but also adding resources to support our plans to bring the product to market; sales, solutions architects, marketing, etc.
KC: What's the future outlook for CHAOSSEARCH?
LY: Log management is just the beginning. We’ve built a data platform on top of S3 that is super extensible into many areas. So we’ll just have to see.