Peak XV’s Surge leads $2.75m seed round of Indian log analytics firm

Parseable founder Nitish Tiwari / Photo credit: Parseable

India-based Parseable, a cloud-native log analytics platform, has raised US$2.75 million in a seed funding round led by Surge, Peak XV’s early-stage program, and NP-Hard Ventures.

The funding comes amid rising costs and complexities in log data analytics due to recent advancements in tech, like the rise of large language models and widespread adoption of cloud-based systems.

By 2025, global data creation is predicted to surpass 180 zettabytes, according to Statista. This marks an almost 2x increase from 2022, the year Parseable was founded.

Founded by Nitish Tiwari, Parseable manages, queries, ingests, and stores large volumes of log data using cloud technology. It uses open-source formats like Apache Parquet and Apache Arrow for easier data processing.

In a statement, the company said current log and observability systems struggle to meet modern demands. It added that high costs for large-scale data ingestion, query, and retention often make SaaS-based systems costly, and outdated architecture hampers the efficiency of older products in leveraging modern cloud infrastructure.

“We see a foundational shift of moving away from siloed data infrastructure,” Tiwari said in the statement.

Funds from this round will be used to speed up product development and deepen integration with other platforms. Parseable has also launched version 1.0 of its platform, featuring a scalable data ingestion mode and Azure Blob Store support.

See also: Wish for tech winter to last longer: Peak XV’s Shailendra Singh