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 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.”
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.”
SOURCE: PRWeb