Bengaluru-based startup Parseable has raised $2.75 million in a seed funding round led by Surge, a scale-up program by Peak XV Partners, with additional participation from NP-Hard Ventures. This infusion of capital marks a significant milestone for Parseable, as it aims to enhance its cloud-native platform designed to manage and analyze the burgeoning volumes of log data generated by today’s digital enterprises.
Founded in 2022 by Nitish Tiwari, Parseable addresses the critical challenge of log data management with a focus on innovation and efficiency. The platform leverages open-source formats such as Apache Parquet and Apache Arrow, ensuring that log data is not only accessible but also interoperable. This approach breaks down traditional data silos, allowing businesses to integrate log data seamlessly with other tools and systems, thereby enhancing overall business intelligence.
Parseable’s platform is tailored for developers, offering an easy-to-use, cloud-based solution for storing and managing logs. By adopting open standards, Parseable ensures that businesses can derive meaningful insights from their log data, facilitating better decision-making and operational efficiency.
The funding will accelerate Parseable’s efforts to innovate in the realm of log data management. As digital businesses continue to generate increasing amounts of log data, Parseable’s solutions are becoming indispensable for industries such as fintech, cybersecurity, and healthcare, among others.
Surge, part of Peak XV Partners, has a track record of nurturing early-stage startups, having supported over 140 startups across 16 sectors. Collectively, Surge startups have raised over $2 billion in follow-on funding post the accelerator program. Parseable’s inclusion in this prestigious group underscores its potential to make a significant impact in the log analytics space.
With the fresh funds, Parseable aims to enhance its product capabilities and expand its market reach. The company’s focus on using open-source formats for data processing ensures that it remains at the forefront of technological innovation, providing businesses with the tools they need to manage their log data efficiently and effectively.
Nitish Tiwari, the founder of Parseable, expressed his excitement about the funding, highlighting its importance for the company’s growth and innovation. “This investment will enable us to scale our platform and introduce new features that will help our customers manage their log data more effectively,” Tiwari said.
Siddhartha Ahluwalia, Managing Partner at Neon Fund, praised Parseable’s potential, citing the founders’ extensive B2B SaaS experience and the platform’s advanced capabilities. He believes Parseable has the potential to become a flagship SaaS company from India, thanks to its global customer base and revolutionary product design.
Parseable’s innovative approach to log analytics and its commitment to using open standards positions it as a leader in the industry. As the company continues to grow and evolve, it is poised to transform the way businesses handle log data, making it easier for them to gain insights and drive efficiency in their operations.