money moves

Houston data management company closes $18M in fresh funding

Houston-based data management startup Graylog has fresh funds to fuel its growth. Photo via Graylog.org

A Houston company that's created a centralized log management solution has closed a new round in funding.

Graylog closed its $18 million growth equity round led by Richmond, Virginia-based Harbert Growth Partners, a new investor, and Minneapolis, Minnesota-based Piper Sandler Merchant Banking, the company announced today. The round also received contribution from existing investors Houston-based Mercury Fund and Integr8d Capital, as well as Germany-based HTGF.

"This investment will enable us to accelerate our global go-to-market strategies and enhancements to the award-winning solutions we deliver for IT, DevOps, and Security teams," says Andy Grolnick, CEO of Graylog, in a press release. "We're excited to have the support of new and existing investor partners to help us realize our potential."

Andy Grolnick is CEO of Graylog. Photo courtesy

Per the release, the funds will go toward growing the company's platform that allows its users the ability to capture, store, and enable real-time analysis of terabytes of machine data.

"Graylog is well-positioned to be a long-term winner in the rapidly growing market for log management and analysis solutions," says Brian Carney, general partner of Harbert Growth Partners, in the release. "With its focus on delivering a superior analyst experience coupled with a vibrant Open Source community, the company provides customers a compelling alternative to other log management solutions plagued with high complexity and high total cost of ownership (TCO). We are thrilled to partner with the Graylog team to leverage the significant opportunity that lies ahead for the company."

Over the past year, despite the challenging business climate, the company saw growth in business and even expanded its European operations, according to the release.

"As a long-standing customer, Graylog is strategic to our success. We are excited to see new investment that will enable the company to accelerate innovation and continue to deliver excellent log management and SIEM solutions," says Rob Reiner, CTO of PROS, in the release.

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Building Houston

 
 

Houston-based medical device and biotech startup Steradian Technologies has been recognized by the Bill and Melinda Gates Foundation. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

A female-founded biotech startup has announced that it has received a grant from the Bill & Melinda Gates Foundation.

Steradian Technologies has developed a breath-based collection device that can be used with diagnostic testing systems. Called RUMI, the device is non-invasive and fully portable and, according to a news release, costs the price of a latte.

“We are extremely honored to receive this award and be recognized by the Bill & Melinda Gates Foundation, a leader in global health. This funding will propel our work in creating deep-tech diagnostics and products to close the equity gap in global public health," says Asma Mirza, CEO and co-founder of Steradian Technologies, in the release. “The RUMI will demonstrate that advanced technology can be delivered to all areas of the world, ensuring the Global South and economically exploited regions receive access to high-fidelity diagnostics instead of solutions that are ill-suited to the environment.”

RUMI uses novel photon-based detection to collect and diagnose infectious diseases in breath within 30-seconds, per the release, and will be the first human bio-aerosol specimen collector to convert breath into a fully sterile liquid sample and can be used for many applications in direct disease detection.

"As the healthcare industry continues to pursue less invasive diagnostics, we are very excited that the foundation has identified our approach to breath-based sample collection as a standout worthy of their support," says John Marino, chief of product development and co-founder. “We look forward to working with them to achieve our goals of better, faster, and safer diagnostics."

Founded in 2017, Steradian Technologies is funded and supported by XPRIZE, Johnson & Johnson’s Lung Cancer Initiative, JLABS TMCi, Capital Factory, Duke Institute of Global Health, and Johnson & Johnson’s Center for Device Innovation.

The amount granted by the Bill & Melinda Gates Foundation was not disclosed. The Seattle-based foundation is led by CEO Mark Suzman and co-chaired by Bill Gates and Melinda French Gatess.

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