Apica Acquires Data Fabric Innovator LOGIQ.AI and Raises $10M in New Funding to Modernize Data Management
STOCKHOLM, August 16, 2023 (Newswire.com) - Apica, the leader in synthetic monitoring and observability, today announced its agreement to acquire observability data fabric startup LOGIQ.AI. Apica also announced it has raised $10M in funding from existing investors Industrifonden, SEB Foundation, and Oxx. With the acquisition and the new financing, Apica plans to continue delivering affordable and flexible observability innovations and develop new capabilities in the coming months for enterprise customers.
Today, IT teams must balance the need for standardization and cost reduction with the difficult task of consolidating monitoring tools, services, and network cost centers. With the acquisition of LOGIQ.AI and the funding announced today, Apica will deliver active observability, automated root cause analysis, and advanced data management to bridge real-world gaps in analysis.
"We are determined to address the need for low-cost infinite storage and observability to support businesses with relevant, actionable data," said Mathias Thomsen, CEO, Apica. "With the acquisition of LOGIQ.AI and the additional funding, we will deliver 'Active Observability' that combines observability and synthetic monitoring into a proactive platform to plug data gaps and put business data in context."
"What makes Apica's new offering unique is the merger of an observability data fabric with synthetic monitoring. In a world where 'downtime is death,' solving monitoring and observability in a streamlined and cost-efficient way is crucial for businesses," said Mikael Johnsson, General Partner and co-founder, Oxx. "This novel approach of 'active observability' has also been extremely challenging for enterprises with complex data structures or in highly regulated sectors to deploy successfully. With this move, Apica is able to provide companies with an end-to-end observability solution, enabling a broader range of companies to incorporate observability successfully into their operations. Apica is setting a new standard for 'active observability,' and at Oxx, we are excited to see where the Apica team takes this next."
"Joining Apica with LOGIQ's data fabric platform creates an innovative and intelligent approach to data management," said Ranjan Parthasarathy, CEO of LOGIQ. "Together, we are empowering businesses to thrive where data-driven insights meet flawless performance, shaping the future of our customers' digital success."
Active Observability with Synthetics and User Control
The Apica Ascent platform with LOGIQ.AI gives users complete data pipeline control, a unified view of all information, and infinite high-quality storage at the lowest cost on the market. The platform acts as a superior indexing tool that aggregates data such as logs, traces, network packets, etc. from multiple sources and improves data quality by trimming off excess data and performing enrichments. The data can be shifted from the platform to a lake environment - either Apica's or another data lake. The result is a unified view of all data for faster root cause analysis while slashing costs and eliminating vendor lock.
"We are offering active observability on your terms," said Jason Haworth, CPO, Apica. "We can give you observability at a low cost that scales to exabytes and gives you your data in context when and how you need it. We're also stacking all this functionality into our data lakes and indexers while embracing open standards such as OpenTelemetry. This allows us to be application, device, service, and vendor agnostic. Having these pieces in place lets us be that decoder ring that other vendors in the space just can't do."
The LOGIQ.AI capabilities will be added to the Apica Ascent platform and deployed to current customers in Q3 of this year.
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About Apica
Apica keeps enterprises operating. The Ascent platform delivers active observability, automated root cause analysis, and advanced data management to quickly find and resolve complex digital performance issues before they negatively impact the bottom line. Today, business operations depend on understanding the health of multi-cloud, hybrid, and on-premises environments to keep business-critical applications and systems online while providing an optimal user experience. Apica delivers a unified view of all information for the entire technology stack helping reduce, prevent and resolve outages and lost revenue. For more information, visit www.apica.io.
Media Contact:
Ben Jolley
Benjamin.Jolley@apica.io
(801) 592-0806
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Source: Apica
