Coralogix Reaches $1B Valuation, Launches AI Agent Olly

Coralogix, a data analytics and observability platform, has achieved unicorn status with a valuation exceeding $1 billion after raising $115 million in a Series E funding round led by NewView Capital, with participation from CPPIB and NextEquity. The company has launched Olly, an AI-driven observability agent designed to extend data insights beyond engineering teams, enabling broader organizational decision-making through real-time, contextual answers and automation of root cause analysis. Coralogix's revenue has grown sevenfold since 2022, with nearly 75% of its 2024 revenue dedicated to research and development, reflecting its commitment to innovation in AI and observability technology. The startup recently expanded its AI capabilities by acquiring Aporia, an AI observability company, and plans to grow its engineering team, particularly in India. Despite operating in a challenging environment marked by high interest rates and geopolitical tensions, Coralogix's strategic focus on AI integration positions it as a competitive leader in the enterprise SaaS market. Its AI agent Olly leverages internal and external data sources to help organizations identify service issues, customer frustrations, and optimize operations through simple queries, marking a shift in observability from a technical function to a strategic business asset.