The devops-focused Sumo Logic is valued over $1 billion following the massive cash infusion of its latest funding round.
Cloud analytics platform Sumo Logic has raised $110 million in a round led by Battery Ventures, the company announced Wednesday. This round values the startup above $1 billion.
This makes Sumo Logic the latest unicorn in enterprise tech — a space that saw two major IPOs in April with PagerDuty and Zoom.has raised $110 million in a Series G round led by Battery Ventures, giving it a valuation over $1 billion, the company announced Wednesday "We have proven that we are the platform of choice for not only cloud-native companies, but also enterprise companies and their cloud migration initiatives," Ramin Sayar, CEO of Sumo Logic, said in a statement."It's great to have such a powerful set of leading investors and ecosystem partners as we accelerate our category leadership.
The company is backed by an all-star cast of Sand Hill Road investors, including Accel Partners, DFJ, Greylock, IVP and Sequoia, as well as Sapphire Ventures and Sutter Hill Ventures. With its latest round, Tiger Global Management and Franklin Templeton also joined the mix.
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