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In 2008 , Marty Kagan , who ’d previously make at Cisco and Akamai , atomic number 27 - foundedCedexis , a ( now - Cisco - owned ) immobile develop observability tech for content delivery networks . Fellow Cisco vet Hasan Alayli joined Kagan at Cedexis in 2012 as a technological lead , and the two worked together for a routine of old age .
As Cedexis grew and start out collaborating with large and larger better half , both Kagan and Alayli became acutely cognisant of the price of data entrepot — and in particular the cost of storing the data logs from services and infrastructure .
“ The expense of storing the logs that were essential to our business was going to be one of Cedexis ’ biggest expenses , second only to payroll , ” Kagan severalise TechCrunch . “ This touch cost essence weighed intemperately on our judgment , even after Hasan and I each moved on to our next adventure . ”
It ’s not just Cedexis . A recent poll parrot by Wasabi , a cloud information warehousing inauguration , find that53 % of companies are exceeding their storage budgetin part because they ’re using more capacity than planned . Ninety percent of the companies responding to the survey enunciate that they expect to increase their storage budgets sometime this year .
So , in 2018 , looking to come up to a logarithm data cost problem they saw as industriousness - astray , Kagan and Alayli join effect to plunge Hydrolix . Hydrolixis a “ stream data point lake ” platform that provides a monument for log data from various sources and mechanisms to render that data to apps in real clock time .
Kagan and Alayli read the mart well , it seems .
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Hydrolix double revenues from Q3 to Q4 in 2023 and grew another 75 % in Q1 of 2024 , Kagan says . Annual recurring revenue stands at roughly $ 6 million , and the startup is attracting unexampled investments . This week , Hydrolix close a $ 35 million Series B troll led by S3 Ventures with involvement from Nava Ventures , Wing Ventures , AV8 Ventures and the Oregon Venture Fund , contribute the party ’s total grow to $ 68 million .
“ Because log data hold the fact businesses get , it is highly worthful , ” Kagan tell . “ And yet because it has traditionally been expensive to store and question , it is the data most likely to be toss after only a brusk metre full point . Our streaming data lake platform combines veridical - time stream processing , decoupled store and low - latency index hunting to deliver a high - performance and yet cost - effective logarithm management system . ”
Hydrolix ’s platform powers “ log datum - intensive ” apps for security , observability , AI and machine learning and even advertising , marketing , travel and retail . Customers can endure the platform on their own swarm substructure or as a “ data point stratum ” for powering pre - build partner - conceive apps .
“ All Hydrolix data is ‘ hot , ’ eliminating the demand to manage multiple storage tiers , ” Kagan said . “ This coming allows Hydrolix to offer its customers veridical - time question performance at terabyte scale … Our software system is applicable to a wide range of use case that postulate both genuine - time depth psychology of gamey - volume streaming logs and advert hoc analytic thinking across years of raw data . ”
Hydrolix , which has ~90 customer across initiative and the public sphere and a Portland , Oregon - ground workforce of around 60 masses , has further expanding upon on the nous . Buoyed by the Series B , the ship’s company plans to surmount up its sales and better half television channel operations as well as its divisions focused on selling and client onboarding .
“ The feel ahead for pipeline acquisition and enlargement deals is potent , ” Kagan say . “ In fact , our recent growth is one of the principal reasons drive sake in the Series B. ”
