Portland startup Hydrolix raises $35M in Series B from Oregon Venture Fund and others

A $35 million Series B is impressive, no matter the economic conditions. But in a down economy and with local investor participation — like Oregon Venture Fund — that’s practically unheard of. And yet, Hydrolix just did exactly that.

Hydrolix, a streaming data lake platform that is disrupting the economics of big data, has closed a $35 million Series B round led by S3 Ventures. Prior investors such as Nava Ventures, Wing Ventures, AV8 Ventures and Oregon Venture Fund also participated in this round, which brings the company’s total funding to date to $68 million.

So what exactly does Hydrolix do to get that kind of capital…? According to TechCrunch:

Hydrolix is a “streaming data lake” platform that provides a repository for log data from various sources and mechanisms to deliver that data to apps in real time.

Hydrolix’s platform powers “log data-intensive” apps for security, observability, AI and machine learning and even advertising, marketing, travel and retail. Customers can run the platform on their own cloud infrastructure or as a “data layer” for powering pre-built partner-conceived apps.

“All Hydrolix data is ‘hot,’ eliminating the need to manage multiple storage tiers,” cofounder and CEO Marty Kagan told TechCrunch. “This approach allows Hydrolix to offer its customers real-time query performance at terabyte scale … Our software is applicable to a wide range of use cases that require both real-time analysis of high-volume streaming logs and ad hoc analysis across years of raw data.”

And now, they’ve got $35 million more dollars to help them in that regard — even though they’ve still got some of their previous round left.

“We still have half the money from the last round,” said Marty told the Portland Business Journal. In fact, it was existing investors that suggested the company go out for another round now based on a “combination of the trajectory since the Series A, (which) has been super positive, but there is concern around market uncertainty at the end of the year.”

For more information, visit Hydrolix.

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