LogEntries, a University College Dublin Spin-out Company, Secures $1m Funding Round
- Cloud Based Log Intelligence Solution Takes Aim at Big Data
LogEntries, a cloud-based, real-time search and analysis log-file management solution for enterprises of all sizes, has announced that it has secured growth funding from US firms Polaris Venture Partners and RRE Ventures, and Dublin firm Frontline Ventures.
The $1 million-plus round, (ca. €815,000-plus round) led by Polaris Venture Partners, is also being supported by Enterprise Ireland.
LogEntries, founded in 2010 by Dr Trevor Parsons and Dr Viliam Holub, is a spin-out company from the UCD School of Computer Science and Informatics. LogEntries provides real-time search and analysis of log-files as a service for enterprises of all sizes across the entire software stack.
LogEntries co-founders, Dr Trevor Parsons and Dr Viliam Holub
Going beyond the state-of-the-art in log management, LogEntries' built-in intelligence layer proactively alerts users about system errors and remedy options in advance of system crashes.
Commenting on Polaris Venture Partners' first investment in Dublin this year, Noel Ruane, European Venture Partner with Polaris said, "For a seed-stage company to have such rich IP manifested in a product so much more mature than the company itself, and this level of traction, is testament not only to the tech smarts of Trevor and his LogEntries team, but to their street smarts too. And for LogEntries to be in such a compelling space......no pun intended, but it's set-up to create the perfect storm."
The company, which has been working out of Dogpatchlabs Europe in Dublin since last October, processes billions of log events per day, has several thousand users, and hundreds of customers.
Dr Viliam Holub, LogEntries co-founder and CTO, believes that "the shift from on-premise to cloud based solutions in the enterprise space is really starting to accelerate as enterprises of all sizes embrace the advantages of the cloud. Both myself and Trevor have previously built an on-premise log management solution for IBM, but in the cloud-based arena what we see right now are merely what we call 'Splunk-lite' offerings, dated solutions adopted for the cloud. From the architecture up, LogEntries is 100% cloud-focused."
The company was the overall winner of the NovaUCD 2010 Campus Company Development Programme. This Programme assists UCD academic and research entrepreneurs in bringing their innovative ideas from intellectual concepts to fully developed and sound commercial businesses.
Congratulating LogEntries on securing its investment, Brendan Cremen, UCD Director of Enterprise and Commercialisation said, “LogEntries is an excellent example of a UCD spin-out company, which has already obtained global reach and customers, established to commercialise the output of UCD research activities.” He added, “‘LogEntries has emerged from UCD’s research focus on ‘big data’ and the close connection fostered with industry and business in that space facilitated commercialisation opportunities such as this.”
Joining Polaris in the investment round are RRE Ventures, Frontline Ventures and Enterprise Ireland.
ENDS
18 July 2012
For further information contact Micéal Whelan, University College Dublin, Communications Manager (Innovation), e: miceal.whelan@ucd.ie, t: + 353 1 716 3712.
Editor’s Notes
LogEntries provides a cloud based log management and intelligence platform for data analysis across applications, systems and networks. It is the only cloud based service that includes built in system intelligence and allows a wide range of both technical and non-technical end users to quickly understand their log data and ultimately their IT Infrastructure.
LogEntries currently processes billions of log events per day, has several thousand users and hundreds of customers. The company, founded by Dr Trevor Parsons and Dr Viliam Holub, as a spin-out from University College Dublin, is headquartered in Dublin, Ireland and has offices in the Czech Republic and the USA. www.logentries.com
