Blog

September 30, 2013

Logentries Raises $10M, Brings in Andrew Burton as President and CEO

Logentries, a company that is able to cull vital information from an avalanche of log data, is having a very big day.

Early this morning, the company, which is now headquartered in Boston (but has its roots in Dublin), made two big announcements. First, they have raised a $10 million Series A Round of funding. Second, they unveiled Andrew Burton, a veteran of LogMeIn, as the company’s President and CEO.

The $10M Series A was led by Polaris Partners, with Floodgate, Frontline Ventures, and RRE Ventures joining the round. Polaris, Frontline, RRE, and Enterprise Ireland were all part of Logentries' $1 million Seed Round in 2012. Floodgate is joining the round as a new investor.

Irish Roots and Innovation

The Logentries story began at the University College Dublin in Ireland. The company’s founders,Viliam Holub and Trevor Parsons, came up with the idea and started the company while part of the university's “Performance Engineering Laboratory” in concert with IBM. With Logentries, Holub and Parsons had built a service that could consume huge quantities of machine data/log data and was unlike any existing alternative.

As new CEO Andrew Burton explained, “They recognized early on that this tsunami of big data was going to be occurring and that machine generated log data was going to be the primary source of that.”

                                              

“[Holub and Parson’s] realized that individual log entries for a medium or small startup application could generate between 2-3 million events a day,” Burton said. To comb through that massive amount of data for real insights would be nearly impossible and mostly frustrating. Burton described the key moment for the two founders, “What they found was that inside these massive log files, which are really unstructured, there are a handful of events that contain absolutely valuable or critical information.”

Through Polaris Ventures’ Dogpatch Labs in Dublin, Logentries attracted the attention of some European and American investors, leading to its $1M Seed Round. Polaris has played a key role for the company all along, now leading the $10M Series A.

What is making Logentries so attractive to investors?

Burton explained the two main reasons for the company’s success.

The first is the capability to pre-process log data, in real time, so that finding the most valuable data is easier. As Burton said, “Users can see or digest the data without having to learn a programming language.” Logentries is consuming huge amounts of data everyday. As Burton added, “Today we are doing over 10 billion events on a daily basis.”

This leads to Logentries second key feature. When the massive amounts of data are being preprocessed the most critical information is tagged and identified by using a ‘collective intelligence model.’

Burton described the benefit of the features. “For a developer, rather than having to figure out what you are looking for and query millions of events, we are going to pre-process and identify events based on our own knowledge of the log data.”

“We are going to be able to do the digging for you so that we can show you the less than 1% of the data that’s most valuable,” he added.

                                    

Burton, coincidentally, also has ties to University College Dublin, having earned a Masters in Information Systems from the school before getting his MBA from Boston College.

"It's one of the unique parts of the story," he said. "I graduated from University College Dublin in the late 90's, and obviously Viliam went to UCD, and Trevor went to UCD, and then also worked on their doctorates there."

Andrew Burton has the Experience to Lead Logentries' Next Phase

After completing his MBA at BC, Burton got involved in the tech scene, working for Accenture as an analyst and software engineer. He also had stints at USinternetworking and Groove Systems, before eventually becoming a product manager at IMlogic, which was later acquired by Symantec. From IMlogic, he moved on to LogMeIn, a company with European roots that settled in Boston and then took off.

"I was at LogMeIn when we were private, and I ran the products when we went public," Burton said. "It's a great company and a tremendous success story, a great Boston story."

He further commented "I helped [LogMeIn] drive the overall efforts to build a great SaaS service and a disruptive offering, and create a great company in Boston."

"I hope to do the same with Logentries."

Logentries couldn't have picked a better person to lead the company's next phase of growth.

With a $10M Series A and Burton at the helm, Logentries may just be the next big Boston success story.

Dennis Keohane is a staff writer for VentureFizz. You can follow Dennis on Twitter (@DBKeohane) by clicking here.

{In the photo above, the Logentries team, from left is Bob Preble, VP of Engineering (formerly Microsoft & Lotus), Andrew Burton, President & CEO (formerly LogMeIn, Symantec & Groove Networks), Viliam Holub, CTO & Co-Founder, Trevor Parsons, Chief Research Officer & Co-Founder}