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Coralogix gets $115M in funding to pioneer agentic AI-powered observability
- Coralogix closes a $115 million late-stage funding round and launches an AI agent named 'olly' to democratize observability beyond technical users.
- The Series E funding was led by NewView Capital with participation from Canada Pension Plan Investment Board and NextEquity.
- Existing investors like Advent International, Brighton Park Capital, and others also joined the funding, valuing Coralogix at over $1 billion.
- Coralogix's observability platform aims to detect issues in IT infrastructure by analyzing telemetry data to prevent application failures.
- The launch of 'olly' intends to involve non-technical users like business leaders and product managers in the observability process.
- 'olly' offers a conversational interface to guide users, provide insights, and suggest actions to enhance decision-making and resolve issues.
- Users can ask 'olly' specific questions about problems and receive explanations and solutions in simple language, without technical expertise.
- The AI assistant helps technical users understand system failures by consolidating and interpreting system logs, metrics, and traces.
- Coralogix CEO Ariel Assaraf views 'olly' as an intelligent assistant that empowers employees to access data and make informed decisions.
- 'olly' marks the latest in Coralogix's updates following the acquisition of Aporia Inc., introducing new AI-powered observability capabilities.
- Coralogix previously introduced the AI Center and Continuous Profiling feature to enhance observability and improve application performance.
- The company's investors believe in its potential to drive innovation in observability using AI, distinguishing it from other vendors in the market.
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