Sumo Logic announced a $75 million funding round led by Sapphire Ventures, with participation from new and existing investors including Accel Partners, DFJ Growth, Greylock Partners, Institutional Venture Partners (IVP), Sequoia Capital, Sutter Hill Ventures and others. Sumo Logic has raised a total of $235 million in funding over seven years.
“As businesses increasingly standardize on cloud computing and new operating models such as DevOps to digitally transform, they are also standardizing on new analytics technologies powered by machine learning that provide continuous intelligence to build, run and secure modern applications,” said Ramin Sayar, President and CEO of Sumo Logic. “Sumo Logic’s big bet that a cloud-native, machine data analytics service would become a must-have capability in the digital era is paying off. This investment from Sapphire Ventures and others, along with additional funding by our full investor syndicate, reflects the company’s progress and provides the capital needed to become the dominant SaaS leader in the machine data analytics category.”
The funding will fuel growth across Sumo Logic’s business – spanning engineering, sales and global operations – with an emphasis on extending the platform capabilities of its service to address growing use cases including operational and security analytics, advanced machine learning and IoT.
“The entire analytics sector is being turned upside down by the tectonic shifts in cloud computing, mobile and machine learning, creating the opportunity for new innovative companies to thrive and win major market share,” said Jai Das, Managing Director at Sapphire Ventures. “Sapphire invested in Sumo Logic because we believe it has many of the dynamics we feel are required for long-term, sustainable leadership – a proven product/market fit, differentiated solution, clear vision, category leadership position, an experienced team, and an addressable market that is rapidly growing. We are excited to partner with Sumo Logic on the next stage of its journey.”
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