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Observability startup Coralogix becomes a unicorn, eyes India expansion
- Coralogix, an Israeli startup offering observability and security platform, raised $115 million at a pre-money valuation of over $1 billion, doubling in three years.
- The Series E round was led by NewView Capital and aims to expand its engineering base in India and enhance its AI agent, Olly.
- Coralogix's AI observability agent utilizes a semantic layer to assist companies in understanding complex issues and automate data observability.
- Olly features anomaly detection, access monitoring, and real-time alerts and was developed by Coralogix’s AI research center.
- Coralogix also provides observability to AI companies, insights into model performance, and quality through Aporia’s acquisition.
- The startup plans to invest about $100 million in India over the next five years, leveraging the country's engineering base and expanding its teams.
- Coralogix aims to double its Indian employee base over the next three years, viewing Indian engineering culture as a good fit for expansion.
- The South Asian market is the startup's second-largest market in revenue and user base, having over 100 customers after the U.S.
- Coralogix serves Indian companies like Postman, Jupiter Money, Meesho, and plans to tap into the Indian government as a client.
- The startup aims to file for a U.S. IPO on Nasdaq in three years, building new architectures and experiences around AI monitoring.
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