REDWOOD CITY, Calif., Feb. 27, 2018 (GLOBE NEWSWIRE) -- Sumo Logic, the leading cloud-native, machine data analytics platform that delivers continuous intelligence, today announced significant business milestones and market growth. The company finished its last fiscal year ending Jan. 31, 2018, with more than 1,600 global customers, empowering more than 50,000 active users and analyzing more than 100 petabytes of data daily. To further drive market growth and IPO readiness, the company has appointed BJ Jenkins, CEO of Barracuda Networks, to its board of directors.
“Sumo Logic’s growth is being driven by the shift to digital business and cloud adoption across all industries and companies of all sizes. We made a big bet nearly eight years ago to build a different kind of analytics service: a cloud-native, multi-tenant, distributed system with the scale, elasticity, and security-first posture to address the growing complexity and dynamism of revenue-generating modern applications,” said Ramin Sayar, president and CEO of Sumo Logic. “Today, it is incredibly exciting to be an essential solution serving both born-in-the-cloud and traditional companies embracing digital business, as well as working with our global ecosystem partners, to democratize machine data for the new Analytics Economy.”
Sumo Logic, a recognized expert in building and operating massive multi-tenant, highly distributed cloud systems, is the industry’s first machine data analytics platform to natively ingest, index and analyze structured and unstructured data together in real-time. As one of the most powerful cloud-native services in the world, the Sumo Logic platform ingests and analyzes vast amounts of data and enables more 30 million searches and queries, which powers tens of millions of insights to customers who rely on this type of continuous intelligence to more effectively build, run and secure their modern applications.
Key Corporate Milestones for Sumo Logic in FY2018
- Achieved record revenue for fiscal year 2018 - driven by continued rapid acceleration of its recurring revenue base, proving out its land and expand business model as customers continue to derive increasing value from the Sumo Logic service.
- Grew customer base to more than 1,600 businesses globally and over 50,000 users.
- Expanded global footprint that resulted in record growth in customers and partners in EMEA and APAC.
- Increased employee headcount to more than 400 globally with significant investments in engineering and go-to-market headcount.
- Enhanced its leading security analytics capabilities with the acquisition of FactorChain to further pioneer the new operating model for modernizing cybersecurity, threat and compliance requirements.
- Analyzed more than 100 petabytes of data, over 30 million searches and 500 trillion records daily.
- Closed $75 million round of funding, led by Sapphire Ventures, bringing total capital raised to $235 million, cementing position as the SaaS machine data analytics solution of choice.
- Hosted Illuminate, the first Sumo Logic user conference, with more than 400 attendees, sponsored by Amazon Web Services, Google Cloud Platform, New Relic, Cloud Passage, MongoDB, Okta, CrowdStrike, JFrog, Fastly, Pivotal and Relus.
- Continued industry recognition including Forbes’ Cloud 100 recipient and IDC’s ITOA Innovator.
“I am delighted to have BJ join the Sumo Logic board of directors, and I look forward to partnering with him. His proven track record, diverse board experience and operational excellence will help us continue to fuel our momentum and growth,” Sayar said. “I am confident that he will play a significant role in helping further develop our global go-to-market strategy and IPO readiness.”
Jenkins, a 20-year IT industry veteran, led Barracuda’s IPO on the New York Stock Exchange. Previously, he served as President of EMC’s Backup Recovery Systems (BRS) Division, and has deep experience guiding companies to reach their growth potential. He currently serves on the board of Generac Holdings (NYSE:GNRC) and previously served as the lead director at Apigee (acquired by Google) and Nimble Storage (acquired by HPE).
“Sumo Logic has cracked the code on molding the perfect market fit by harnessing the power of key trends such as cloud computing, analytics and machine learning,” said BJ Jenkins, president and CEO for Barracuda Networks. “With the company’s impressive growth trajectory, I believe Sumo Logic is well positioned to become a market disruptor, and I’m thrilled to have the opportunity to help them scale the business globally.”
About Sumo Logic
Sumo Logic is a secure, cloud-native, machine data analytics service, delivering real-time, continuous intelligence from structured, semi-structured and unstructured data across the entire application lifecycle and stack. More than 1,600 customers around the globe rely on Sumo Logic for the analytics and insights to build, run and secure their modern applications and cloud infrastructures. With Sumo Logic, customers gain a multi-tenant, service-model advantage to accelerate their shift to continuous innovation, increasing competitive advantage, business value and growth.
Founded in 2010, Sumo Logic is a privately held company based in Redwood City, Calif. and is backed by Accel Partners, DFJ, Greylock Partners, IVP, Sapphire Ventures, Sequoia Capital and Sutter Hill Ventures. For more information, visit www.sumologic.com.
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Source: Sumo Logic