Setting up our dive In the gross margins of Palantir aside for another day, Sumo Logic filed a public petition this morning. According to data from Crunchbase, the former Redwood City startup raised about $ 340 million while private.
The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch or receive The Exchange's newsletter every Saturday.Sumo Logic analyzes the information gathered by its customers' apps and business integrations to help them pinpoint operational and security issues and allows them to view additional elements in dashboards as they wish. The company states in its S-1 that its code is "continuous intelligence", which it calls "a new category of software".
Our Ron Miller summed up Sumo Logic as a "cloud data analytics and log analytics company" when it raised a $ 110 million G-Series last May. At the time, it was valued north of $ 1 billion, making it a unicorn.
Sumo Logic's IPO has been in its plans for some time. We can see this in a 2017 ProWellTech title where Sumo raised $ 75 million and was "on track" for a public offering. So, how healthy is the company and what have its investors bought with about a third of a billion dollars in capital? Let's find out.
Sumo Logic's financial performance
Above: Sumo Logic operates on a fiscal calendar that ends on January 31 of each calendar year. This is an excellent standard for SaaS companies as it allows the company to do this not wrap her year around the holiday season. This is good for sales teams and so on.
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