Coralogix raises USD 115 million

New Delhi, Jun 17 (PTI) Israeli data security platform Coralogix has raised USD 115 million (about Rs 992 crore) in a series E funding round led by NewView Capital and plans to deploy a significant chunk of the capital in India.

The company plans to increase its market share, especially in compliance-intensive and fast-scaling sectors like BFSI, IT & Telecom, Logistics, and EdTech, a company statement said.

"A significant portion of this capital will be deployed in India, which stands among its top three markets globally.

"As part of this investment, Coralogix will significantly expand its office in Gurugram, and also accelerate hiring in Bengaluru and Mumbai towards actively building out engineering, R&D, and customer success teams. Over the next five years, the company expects to create hundreds of high-value tech jobs in roles such as AI and data science, cloud security, customer engineering, and enterprise sales," it said.

Coralogix's Indian portfolio includes customers such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, Razorpay and Delhivery.

The funding round, which values the Tel Aviv-headquartered firm at over USD 1 billion, also saw participation from the Canada Pension Plan Investment Board (CPPIB) and NextEquity. PTI ANK DR