Axiom has announced a new $4m seed round led by Crane Venture Partners with participation from Fly VC, Mango Capital and LocalGlobe, which led the previous round of funding. Notable angel investors include former Xamarin founder and current GitHub CEO Nat Friedman and Heroku co-founder Adam Wiggins.
This brings the total raised by the company to $7m in funding since it was founded in 2017. The firm have also announced the launch of an enterprise-grade solution to manage and analyse machine data at any scale, across any type of infrastructure.
Axiom gives DevOps teams a cloud-native, serverless solution to store and query their data all the time in one intuitive interface – without the overhead of maintaining and scaling data infrastructure. Based on a object-based datastore, Axiom provides an efficient and effective way to manage machine data and surface insights in real-time at a fraction of the cost and time as current solutions.
Co-founder and CEO Neil Jagdish Patel, commented: “We created Axiom having experienced first hand the problems today’s DevOps teams face managing massive data streams and complex infrastructures. A quarter of our time was spent managing machine data to keep the products running efficiently rather than building new features.”
Patel continued, “We wanted to approach the problem in a way that fixed the fundamental problems teams were facing. To do that we had to build a cloud-native, object-based solution that provided the flexibility of indexing and querying huge volumes of data while drastically reducing management and infrastructure time and costs.”
Scott Sage, Founder and Partner at Crane Venture Partners added, “Neil, Seif and Gord are a proven team that have created successful products that millions of developers use.
“We are proud to invest in Axiom to allow them to build a business helping DevOps teams turn logging challenges from a resource-intense problem to a business advantage. Built for today’s infrastructure trends of flexible, hybrid environments, Axiom is the best solution for managing today’s machine data.”
Axiom co-founders Neil Jagdish Patel, Seif Lotfy and Gord Allott, have worked together for more than a decade creating products used by millions of developers. Together, they created Xamarin Insights that enabled developers to monitor and analyse mobile app performance in real-time for Xamarin, the open-source cross-platform app development framework. Xamarin was acquired by Microsoft for between $400 and $500 million in 2016.
Axiom will use the new funding to build out its product, sales and marketing functions to bring its enterprise-grade solution to the market.