In the world of observability, having the right amount of data is key. For years Apica has led the way, utilizing synthetic monitoring to evaluate the performance of critical transactions and customer flows, ensuring businesses have important insight and lead time regarding potential issues.
Our platform is equipped to handle even the most complex IT environments and customers can simulate a combination of owned and third-party SaaS tools, or a mix of cloud and on-premises infrastructure, always differentiating us from traditional providers.
However, as with any technology, the time has passed and therefore needs have evolved. Data volumes are skyrocketing, and companies are finding that conventional APM software monitoring is no longer cutting it, and having insight into the health of a system at any point in time, collecting metrics, logs, and traces, is the new objective. Unfortunately, this kind of observability is not easily digestible or accessible. There are excessive amounts of data coming in from an excessive number of sources, and companies need help sifting through it and making sense of it all.
When our new leadership team, me included, came aboard in 2022, we understood that the market was looking for help digesting all this data. Apica had the synthetic monitoring component down, but we realized that to offer a complete package, we needed another tool that could sort through the data and clean it.
At the same time, our customers were seeing rising costs and amongst other hard decisions must decide between spending significant resources to store data in the cloud or attempting to build their own migration tool, neither a great option.
Now, we are thrilled to announce Apica’s acquisition of LOGIQ.AI, an observability data fabric company that unifies, integrates, and connects observability data, enabling customers to eliminate friction, maximize value, and transform faster.
LOGIQ.AI’s observability platform unifies data with its data fabric, sorting and providing faster and less expensive raw data collection and optimization from any source. These capabilities are complicated and rare with few being able to collect the more complex data. Apica can now offer customers the freedom to sort data of any complexity and choose where it goes – into Apica’s platform, a different vendor platform, or their own – to then analyze and store it for a lot less money.
I believe that offering flexibility in how and where our customers store and analyze the optimized data will be a solution many will want as it protects investments already made at the same time as it offers a modern way of solving their observability needs at a significantly lower cost.
The observability market is hot with many looking to get in on the action. Since 2021, IT observability startups have raised $2 billion in funding and it is predicted that the overall observability market will reach $20 billion by 2024, but the majority are missing what it takes to provide true observability.
The merging of synthetic monitoring with a data fabric applying modern data engineering is what sets Apica apart from the rest. With a single view of all information, businesses have an opportunity to determine where synthetic monitoring can potentially play a role and fill the data voids. Analysts agree that this approach offers notable value and there is significant potential for businesses looking to strengthen their observability insights.
In order to take the next step on our journey, Apica has received $10 million in funding from existing investors Industrifonden, SEB Foundation, and Oxx which is a great testament to the support offered to our team. With the acquisition of LOGIQ.AI and the additional funding, we can now deliver “Active Observability” that combines observability and synthetic monitoring into a proactive platform to plug data gaps and put business data in context.
We are excited to announce this new offering to our current customers, future customers, and the entire observability industry. A door has now opened for many enterprises who until now, have been unable to take advantage of observability due to a myriad of reasons including regulatory restrictions and data complexities. Apica’s acquisition of LOGIQ.AI will invite many to the table and we look forward to working with them all.
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