Hydrolix seeks to make storing log information quicker and cheaper

In 2008, Marty Kagan, who’d beforehand labored at Cisco and Akamai, co-founded Cedexis, a (now-Cisco-owned) agency creating observability tech for content material supply networks. Fellow Cisco veteran Hasan Alayli joined Kagan at Cedexis in 2012 as a technical lead, and the 2 labored collectively for quite a few years.

As Cedexis grew and started collaborating with bigger and bigger companions, each Kagan and Alayli turned conscious about the price of information storage — and specifically the price of storing the information logs from companies and infrastructure.

“The expense of storing the logs that had been important to our enterprise was going to be certainly one of Cedexis’ largest bills, second solely to payroll,” Kagan informed TechCrunch. “This disturbing value burden weighed closely on our minds, even after Hasan and I every moved on to our subsequent adventures.”

It’s not simply Cedexis. A current ballot by Wasabi, a cloud information storage startup, discovered that 53% of firms are exceeding their storage finances partly as a result of they’re utilizing extra capability than deliberate. Ninety p.c of the businesses responding to the survey mentioned that they anticipate to extend their storage budgets someday this 12 months.

So, in 2018, seeking to handle a log information value downside they noticed as industry-wide, Kagan and Alayli joined forces to launch Hydrolix. Hydrolix is a “streaming information lake” platform that gives a repository for log information from varied sources and mechanisms to ship that information to apps in actual time.

Kagan and Alayli learn the market properly, it appears.

Hydrolix doubled revenues from Q3 to This fall in 2023 and grew one other 75% in Q1 of 2024, Kagan says. Annual recurring income stands at roughly $6 million, and the startup is attracting new investments. This week, Hydrolix closed a $35 million Collection B spherical led by S3 Ventures with participation from Nava Ventures, Wing Ventures, AV8 Ventures and the Oregon Enterprise Fund, bringing the corporate’s complete raised to $68 million.

“As a result of log information accommodates the info companies generate, it’s extremely useful,” Kagan mentioned. “And but as a result of it has historically been costly to retailer and question, it’s the information almost definitely to be discarded after solely a short while interval. Our streaming information lake platform combines real-time stream processing, decoupled storage and low-latency listed search to ship a excessive efficiency and but cost-efficient log administration system.”

Hydrolix’s platform powers “log data-intensive” apps for safety, observability, AI and machine studying and even promoting, advertising and marketing, journey and retail. Clients can run the platform on their very own cloud infrastructure or as a “information layer” for powering pre-built partner-conceived apps.

“All Hydrolix information is ‘scorching,’ eliminating the necessity to handle a number of storage tiers,” Kagan mentioned. “This strategy permits Hydrolix to supply its prospects real-time question efficiency at terabyte scale … Our software program is relevant to a variety of use instances that require each real-time evaluation of high-volume streaming logs and advert hoc evaluation throughout years of uncooked information.”

Hydrolix, which has ~90 prospects throughout enterprise and the general public sector and a Portland, Oregon-based workforce of round 60 individuals, has additional growth on the thoughts. Buoyed by the Collection B, the corporate plans to scale up its gross sales and accomplice channel operations in addition to its divisions centered on advertising and marketing and buyer onboarding.

“The look forward for pipeline acquisition and growth offers is powerful,” Kagain mentioned. “In actual fact, our current progress is without doubt one of the major causes driving curiosity within the Collection B.”