General Atlantic backs Israel’s Atera; Greenfield Partners bets on Coralogix

 General Atlantic backs Israel’s Atera; Greenfield Partners bets on Coralogix

Private equity firm General Atlantic has led a Series B round of funding in Israeli remote monitoring software provider Atera while Greenfield Partners and several venture capital firms have backed Coralogix.

Atera secured $77 million in a Series B round led by the US-based growth equity firm with participation of its Series A investor K1 Investment Management. Atera had mopped up $25 million in Series A financing five months ago.

The new round of funding takes the company’s valuation to almost $500 million, Atera said.

Atera uses cloud-based technology to offer remote monitoring and management solutions to companies. While Atera was founded in 2010, it has grown rapidly since the coronavirus pandemic forced companies worldwide to shift to remote working.

“The global ecosystem has changed, and the need for the fast and easy deployment of IT services is more critical than ever to keep businesses running smoothly,” said Gil Pekelman, CEO and founder of Atera.

Atera said that it has customers in more than 90 countries and that it will use the fresh capital to improve its product offerings, hire people, and invest in its R&D efforts.

Coralogix

US- and Israel-based startup Coralogix, which helps engineers, scientists and developers track and analyse data, has snagged a $55 million Series C funding cheque.

Israeli VC firm Greenfield Partners led the round. Several other investors including Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s OG Tech Ventures, Janvest Capital Partners, Maor Investments, and 2B Angels pitched in.

The company said it will use the capital to extend its platform beyond observability towards a comprehensive storage-free data solution.

The Israeli-origin company, now based out of San Francisco, has raised a total of $96 million since it was founded in 2015 by Ariel Assaraf, Guy Kroupp, Lior Redlus, and Yoni Farin.

The latest funding comes 10 months after the company raised $26 million in a Series B round led by Red Dot Capital and OG Tech, with participation from Aleph VC, StageOne, Janvest and 2B Angels.

The company said that its revenue has tripled and its customer base has doubled in the last year.

Greenfield Partners is an investment firm focused on early growth stage technology and tech-enabled businesses. Its portfolio includes companies such as BigPanda, Quali, Avanan, Cynet, Guardicore, Mixtiles, Planck, and Vast Data.

Aman Malik

The Capital Quest