West Hill is delighted to report that following very significant growth during 2019, leading Danish SaaS business, Humio, has raised $20million in order to further accelerate its expansion. Humio is a potentially world class and category defining business.
Humio was originally sourced from our Danish network and West Hill raised an SEIS/EIS round in Q4 2017, before leading US VC, Accel Partners subsequently invested. The most recent round valued Humio at a significant multiple of the original West Hill offer and provides capital to enable the business to deliver on huge demand across global markets.
The Company’s digital log management platform offers the lowest total cost of ownership, industry-leading unlimited plans, minimal maintenance and training costs, and remarkably low compute and storage requirements. Log management platforms are designed to continuously collect, interpret and manage data, demonstrating what is happening across a company’s IT infrastructure and helping to identify a variety of problems from IT systems failures to cyber-attacks.
Humio’s leading edge software minimises the challenge of sifting through the rapidly ever-growing volume of event and data logs by enabling corporates to log all data, structured or unstructured, in real time and at significant scale. Humio is the only log management solution that enables customers to log everything to answer any question in real time and at scale, self-hosted or in the cloud.
Accel is a credible investor and has participated in Humio as an active investment partner, providing them with strategic insight and access to their networks. Accel has a track record that includes Series A and B investments in Facebook, DropBox, Spotify, Flipkart, Etsy, Slack, Supercell and Vox Media, whilst they recently named Humio as one of the top European SaaS companies.
The round was led by Dell Technologies Capital, the ventures arm of Dell Technologies, one of the World’s largest and best-known technology companies globally with revenues of $90billion.
CEO of Humio, Geeta Schmidt commented;
‘At Humio, we believe that the amount of data collected by customers should never be limited. Nearly two years ago we introduced the first Unlimited Ingest Plan for self-hosted deployments and we are thrilled to now bring the first Unlimited Ingest Plans for Cloud.’
‘By providing the lowest total cost of ownership, industry-leading unlimited plans, minimal maintenance and training costs, and remarkably low compute and storage requirements, we’ve succeeded in driving rapid user adoption. Humio has experienced unstoppable momentum as seen with 550% year-over-year revenue growth, a 6.5x increase over this time last year.
The addition of Dell Technologies Capital to our existing investor, Accel, is further validation for Humio and the value we bring to customers. DTC’s guidance and support will be critical as Humio continues to scale, mature, and succeed.’