Coralogix has raised $200 million in Series F funding at a $1.6 billion valuation, only 11 months after a $115 million Series E. Advent and CPPIB led the round, with Greenfield Partners and Brighton Park Capital also participating.
The company is not new: since 2014 it has sold observability tools for logs, metrics and tracing in a market crowded by Datadog, Splunk and New Relic. What has changed is the software being watched. More work is now done by AI agents that call APIs, change code and make decisions with less direct human clicking.
CEO Ariel Assaraf said the interface layer is slowly being eroded as engineers interact with software through AI assistants. Coralogix is already seeing that shift: more than half its customers use its Olly AI agent or connect their own models through command-line and agentic interfaces to investigate incidents.
The business has scale behind the AI story, with more than 5,000 customers, annual revenue growth above 60%, annual recurring revenue past $100 million more than a year ago, and about 30 customers spending over $1 million a year. The investor thesis is that as agents spread through enterprises, monitoring what they do becomes mandatory infrastructure.
Sources: TechCrunch, CocoLoop.