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, which provides a real-time log management platform for on-premises and cloud infrastructures, announced this morning it has raised $20 million in a Series B round of funding.

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led the financing, which included participation from existing backer . The round brings Humio鈥檚 total venture raised since its 2016 inception to $32 million. Accel led Humio鈥檚 $9 million in January 2019.

Log management platforms continually collect data about what鈥檚 happening across a company鈥檚 infrastructure, and help identify a variety of problems from application service down-time to cyber attacks.

Humio says its platform is unique in that it uses cloud-bucket storage, which gives customers the ability 鈥渢o log everything efficiently in an index-free manner鈥� in real time and at scale. This allows for live, streaming queries and results. It also claims to be able to do all this with minimal maintenance and training costs, and 鈥渞emarkably low compute and storage requirements.鈥�

It must be doing something right. CEO and co-founder said the company has seen 550 percent year-over-year growth, which is a 6.5 times increase over this time last year. It has about 80 employees distributed in offices in Europe and the United States.

Customers are large enterprises spanning multiple industries such as financial services, education, health care and communications. They include , Bloomberg, HP Aruba, and Michigan State University, among others.

Some customers choose to self-host (especially those with more sensitive data) while others have Humio host for them via its SaaS (software-as-a-service) offering.

鈥淓ssentially what we do is aggregate large volumes of data when running and operating a system,鈥� Schmidt told me. 鈥淢any folks have distributed cloud environments. Those environments are getting really complicated to understand what鈥檚 going on in real-time. If something goes wrong, we can go in and see what鈥檚 happening right now.鈥�

Unlimited ingest

The company claims to have been the first company to offer unlimited ingest for self-hosted data and now will be the first to do the same for cloud as part of a new plan. That has the ability to 鈥渟ignificantly change the cost of scaling to massive volumes in a SaaS environment鈥� by giving customers the ability to increase data storage and retention at what it describes as a low cost, according to Humio.

That predictable pricing model has helped boost the company鈥檚 sales, according to Schmidt.

鈥淣ot having a volume-based pricing model takes away stress of how much to send to a solution,鈥� she said.

, Netifly鈥檚 director of infrastructure, said Humio鈥檚 unlimited ingest helps his team make active decisions about changes to its system with more confidence.

鈥淲hen I鈥檓 able to log everything, it means that I can look at my developers and say, 鈥榞o ahead, absolutely.鈥� That鈥檚 really powerful, especially because you can鈥檛 ever really go back in time and add more information. You can鈥檛 say, 鈥業 wish I knew that field,鈥� he said in a written statement. 鈥淪o it’s more like 鈥榣et鈥檚 remove it from the developer鈥檚 mind, log everything, and then potentially use it later in an effective way鈥�.鈥�

Humio plans to use its new capital to increase its capabilities and expand the development of its self-hosted and SaaS (software-as-a-service) products.

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