Tech firm Logz.io raises $23 million in private funding round

[November 15, 2017]  (Reuters) - U.S.-Israeli tech firm Logz.io said on Wednesday it raised $23 million in a private funding round led by venture capital fund OpenView.

It also received funding from 83North, Giza and a new investor, Vintage Investment Partners. To date, Logz.io -- which develops artificial intelligence technologies to help companies monitor their networks -- has raised $47 million.

The company, whose annual revenue has tripled, said the funds will allow them to invest in developing more products for its 400 customers, which include Oracle, Intel, British Airways, and Electronic Arts.

It added that it plans to double its footprint at its U.S. headquarters in Boston over the next year.

(Reporting by Dan Pleck; Editing by Steven Scheer)

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