Apica, a leader in synthetic monitoring and observability solutions, has announced a new round of funding and the acquisition of LOGIQ.AI (now redirects to Apica website)
Mathias Thomsen, the CEO, of Apica, said, “We are determined to address the need for low-cost infinite storage and observability to support businesses with relevant, actionable data. 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.”
LOGIQ.AI was founded by Tito George and Ranjan Parthasarathy in 2019. It provided a patented data fabric for observability, security, network and business data. The solution will enable Apica to deliver active observability, automated root cause analysis, and advanced data management to bridge real-world gaps in analysis. LOGQ.Ai last raised funding in a seed capital round led by Leo Capital of $1.8 million.
Ranjan Parthasarathy, CEO of LOGIQ. “Joining Apica with LOGIQ’s data fabric platform creates an innovative and intelligent approach to data management. Together, we are empowering businesses to thrive where data-driven insights meet flawless performance, shaping the future of our customers’ digital success.”
Parthasarathy is joining the leadership team at Apica and will play a strategic role in the company moving forward.
New funding
According to Crunchbase, this is the ninth round of funding the company has made, though not the largest to date. The funds will be provided by existing investors Industrifonden, SEB Foundation, and Oxx. The money will continue to develop its observability capabilities in the coming months. It is unclear whether most of the funds were used for the acquisition.
Mikael Johnsson, General Partner and co-founder of Oxx, commented, “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 for monitoring and observability in a streamlined and cost-efficient way is crucial for businesses.
“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.”
What does LOGIQ.AI bring to Apica?
Apica aims to deliver the capabilities from the LOGIQ.AI platform in Q3 2023. Those capabilities include:
- Observe: Full stack observability across an enterprise operational data fabric, including apps, tools, Cloud, Network, integrations and security.
- Flow: Delivers control over every aspect of data pipelines from source to destination and back.
- Lake: Store and search everything limitlessly using a revolutionary storage-less paradigm for operational data – business, observability, security, network and more. Data can be transferred to Apica or another lake.
- Secure: The ability to collect data, detect, analyse and provide insights for orchestration, automation and response for all endpoints.
The LOGIQ.AI platform will underpin and extend the Apica platform once integrated. Jason Haworth, CPO, Apica, commented, “We are offering active observability on your terms. 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.”
Enterprise Times: What does this mean?
Did Apica use the funds to buy LOGIC.AI? It appears not entirely from the comments above. There is no comment about what happens to existing LOGIC.AI customers, and with Parthasarathy joining Apica, this may have been more of a white knight acquisition.
The technology appears to fit well, and the timescales for Apica to leverage the LOGIC.AI solution are short. This addition may see it expand its footprint within its customers with a natural add-on for its existing solutions. It may also help win more business into 2024. Integrating people and technology will take a few months, but Apica should come out much stronger.
