Sumo Logic, the startup helping Airbnb and the Pokémon Company secure their cloud software, raised $110 million in a round valuing it above $1 billion

Ramin Sayar Sumo Logic CEO

Cloud analytics platform Sumo Logic has raised $110 million in a round led by Battery Ventures, the company announced Wednesday. This round values the startup above $1 billion.
Sumo Logic helps developers secure their cloud software. It gives them visibility into cloud platforms, including Amazon Web Services, Microsoft Azure and Google Cloud.
This makes Sumo Logic the latest unicorn in enterprise tech — a space that saw two major IPOs in April with PagerDuty and Zoom.

Cloud analytics startup Sumo Logic has raised $110 million in a Series G round led by Battery Ventures, giving it a valuation over $1 billion, the company announced Wednesday

Sumo Logic is a platform for developers working to secure their cloud software. It provides real-time visibility into the various cloud platforms including Amazon Web Services, Microsoft Azure and Google Cloud. Its customers range from Airbnb to the Pokemon Company.

"We have proven that we are the platform of choice for not only cloud-native companies, but also enterprise companies and their cloud migration initiatives," Ramin Sayar, CEO of Sumo Logic, said in a statement. "It's great to have such a powerful set of leading investors and ecosystem partners as we accelerate our category leadership."

While the average consumer many not know or use Sumo Logic, it's been a hit with venture capitalists.

The company is backed by an all-star cast of Sand Hill Road investors, including Accel Partners, DFJ, Greylock, IVP and Sequoia, as well as Sapphire Ventures and Sutter Hill Ventures. With its latest round, Tiger Global Management and Franklin Templeton also joined the mix.

The company said it surpassed $100 million in revenue in fiscal year 2019, and has over 2,000 customers.

With a valuation exceeding $1 billion, Sumo Logic joins a growing cohort of enterprise tech companies gaining strong positions in the market as more and more companies move onto the cloud.

PagerDuty, a platform that lets IT professional monitor networks and notifies them when something has gone asque, went public last month with a $1.76 billion valuation. The company now has a $3.6 billion market cap.

Another enterprise tech favorite, the video conferencing company Zoom,went public one week later with a $9.2 billion valuation. Zoom now has a market cap just under $20 billion.

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