Hydrolix lands $80M to help companies manage massive volumes of log data

Hydrolix, a Portland, Ore.-based “streaming data lake” startup that helps companies store and analyze huge volumes of log data, raised $80 million in a Series C round led by QED.

What Hydrolix does: The company stores, compresses, and queries huge volumes of log data — everything that happens in a digital system —  in real time. Fintech, media, and e-commerce companies use log data to detect security threats, debug issues, monitor live streams, and more. The startup is riding tailwinds from cloud, AI, and security applications driving up log data usage.

Revenue: Grew 8X in 2024; annual recurring revenue is close to $40 million.

Customers: Volkswagen, Paris Olympics, Navy Federal Credit Union.

Partnerships: Akamai, AWS, Quesma.

Founders: CEO Marty Kagan and CTO Hasan Alayli founded Hydrolix in 2018. Kagan was an exec at Akamai, Jive Software, and Fastly, and co-founded Cedexis, which was acquired by Citrix. Alayli previously worked at Splunk as a principal software engineer and was a technical lead at Cedexis.

Quotable: “Log data doesn’t just provide a history — it tells a story,” Kagan said in a blog post. “And it’s not just about what happened in the past. It provides the ability to make educated guesses about the future.”`

Investors: Other backers include Blumberg Capital, Frontline Ventures, Pruven Capital, Sozo Ventures, Akamai, AV8 Ventures, Ericsson Ventures, Nava Ventures, Oregon Venture Fund, S3 Ventures, Uncorrelated Ventures and Wing Venture Capital.

• Chuckie Reddy, QED partner and head of growth investments, will join the Hydrolix board as a director.

Other details:

• Total funding to date is $148 million.
• The company has 189 employees.