Hydrolix has hit its stride, growing 10-fold year over year,
with new partnerships and a 75% growth rate in Q1 of 2024
PORTLAND, Ore., May 22, 2024
/PRNewswire-PRWeb/ -- Hydrolix, a streaming data lake platform that
is disrupting the economics of big data, has closed a $35 million Series B round led by S3 Ventures.
Prior investors such as Nava Ventures, Wing Ventures, AV8 Ventures
and Oregon Venture Fund also participated in this round, which
brings the company's total funding to date to $68 million.
Hydrolix transforms the market by
delivering powerful new capabilities at a drastically lower cost.
With accelerating growth in channel and customer relationships
across some of the largest enterprises, we're excited to invest in
a product and team that is poised to lead a rapidly growing
market.
Hydrolix has recently hit its stride, doubling revenues in Q3
and Q4 in 2023 and growing another 75% in Q1 of 2024. Last month,
Hydrolix received a Data Breakthrough Award for "Cloud Enterprise
Data Warehouse Solution of the Year." Read more about the Hydrolix
growth story here.
Hydrolix offers a streaming data lake built to power
log-intensive applications. Hydrolix software combines real-time
stream processing, low-latency indexed search, decoupled storage
and high-density compression to create a high-performance,
lower-cost data management platform designed to handle the
hyper-growth industry demand for long-term data retention. All
Hydrolix data is "hot," eliminating the need to manage multiple
storage tiers. This approach allows Hydrolix to offer its customers
real-time query performance at terabyte scale for a radically lower
cost compared to other cloud data platforms.
Hydrolix software is applicable to a wide range of use cases
that require both real-time analysis of high volume streaming logs
and ad hoc analysis across years of raw data. Without Hydrolix,
companies are forced to sample, summarize, or discard this data
outright, severely limiting their ability to gain accurate insights
and build more robust AI models. With Hydrolix, companies can make
use of all their data, whether it is a few seconds or a few years
old. Use cases include cybersecurity, observability, content
delivery, digital advertising, AI/machine learning and regulatory
compliance. The company today has more than 80 customers, including
many of the world's leading media, gaming and telecommunications
brands.
Marty Kagan and Hasan Alayli, pioneers in observability for
content delivery networks (CDNs), co-founded Hydrolix in 2018 after
experiencing first hand the pains associated with ingesting,
storing and searching billions of RUM and DNS records per day.
Hydrolix was founded to transform the economics of log data and to
relieve the stress and anxiety that often surrounds big data
infrastructure.
"Hydrolix is disrupting the market in an era where companies
have come to view their data as a vital asset they can no longer
afford to discard because of cost. Whether they need deeper
real-time insights or are building AI-enabled applications,
companies need immediate access to all of their data without
sinking the ship with exorbitant data storage costs," said
Marty Kagan, co-founder and CEO of
Hydrolix. "We have achieved the product-market fit that all
start-ups aspire to and have entered a high-growth phase that will
fuel product development, our sales engine and a forthcoming
partner program that will be a bedrock for expansion. We couldn't
be more excited about the bright future ahead for Hydrolix."
"As an operator and investor, I have experienced the challenge
of exploding data volumes across multiple companies," said
Aaron Perman, partner at S3
Ventures. "Hydrolix transforms the market by delivering powerful
new capabilities at a drastically lower cost. With accelerating
growth in channel and customer relationships across some of the
largest enterprises, we're excited to invest in a product and team
that is poised to lead a rapidly growing market."
About Hydrolix
Hydrolix is the only data lake platform transforming the economics
of log data. With a unique combination of stream processing,
decoupled storage, high-density compression and indexed search,
Hydrolix's platform delivers real-time query performance at
terabyte scale while dramatically reducing the cost to store and
use log data. The platform powers data-intensive applications to
elevate business intelligence, optimize operations, and drive
growth. Companies worldwide deploy Hydrolix for a wide range of use
cases, including security, observability, content delivery, digital
advertising, AI/machine learning, and regulatory compliance.
Founded in 2018 and based in Portland,
Ore., Hydrolix is trusted by Fortune 500 companies across
diverse industries. For more information, visit
https://hydrolix.io.
About S3 Ventures
Founded in 2005, S3 Ventures leads Seed, Series A, and Series B
venture capital investments in Business Technology, Digital
Experience, and Healthcare Technology companies. Backed by a single
limited partner — a highly philanthropic family with a
multi-billion-dollar foundation — S3 Ventures empowers visionary
founders with the patient capital and true resources required to
grow extraordinary, high-impact companies. Learn more about S3
Ventures at https://www.s3vc.com/.
Media Contact:
Cristin Connelly
Cathey.co for Hydrolix
cristin@cathey.co
Media Contact
Cristin Connelly, Hydrolix, +1
404-931-6752, cristin@cathey.co, www.hydrolix.io
View original content to download
multimedia:https://www.prweb.com/releases/hydrolix-closes-35m-series-b-amid-10x-growth-for-streaming-data-lake-offering-302152492.html
SOURCE Hydrolix