BOSTON--(BUSINESS WIRE)--Please replace the release dated August 11, 2021, with the following corrected version due to multiple revisions.
The updated release reads:
CHAOSSEARCH HITS SIGNIFICANT GROWTH MILESTONES IN 1H 2021 AS IT DELIVERS NEW APPROACH TO ACTIVATE DATA LAKES FOR ANALYTICS
With 611% Y/Y revenue growth, data analytics start-up on track for record-breaking year
ChaosSearch reported record growth for the first half of the year, as its Data Lake Platform continues to gain traction amongst enterprises challenged with explosive data growth and those struggling to gain insights from the massive volumes of data sitting in their data lake. The organization’s year-over-year revenue has increased by 611%.
This year ChaosSearch expanded its award-winning log analytics solution to add SQL support, now delivering the industry’s first multi-model, multi-cloud data lake platform for cost effective analytics and business intelligence at scale. The expanded capabilities will make it easier and more cost-effective for customers like Blackboard and Equifax to quickly derive value from exploding data volumes residing in their own cloud environments.
Other notable accomplishments for ChaosSearch in the first half of 2021 include being recognized as a leader in the industry by several award wins:
- Cybersecurity Excellence Awards -- recognizing ChaosSearch’s leadership and innovation in this fast-growing segment of the overall cybersecurity market
- 2021 Data Breakthrough Award -- showcasing the unique value of the ChaosSearch Data Lake Platform, as well as the critical role that it is playing in solving big data analytics challenges for customers
- The Boston Business Journal’s 2021 Best Places to Work list -- honoring Boston companies that have built outstanding work environments for their people
- The Globee: 6th Annual 2021 American Best in Business Awards -- recognizing disruptive and innovative organizations within business and technology sectors
Additionally, ChaosSearch was named a Sample Vendor in Data Lakes category in Gartner® Hype Cycle™ reports titled, “Hype Cycle for Data Management, 2021”1, “Hype Cycle for Life Science Commercial Operations, 2021”2, “Hype Cycle for Communications Service Provider Operations, 2021”3, and “Hype Cycle for Oil & Gas, 2021”4.
According to Gartner, “A data lake, when designed properly, can provision data for the diverse exploration requirements of multiple user types and use cases.” It further adds, “Today’s data lake is on cloud, and it supports multiple analytics techniques (not just data science).”1
“Organizations continue to struggle when it comes to accessing and analyzing data within their cloud environments,” said Ed Walsh, CEO. “ChaosSearch is committed to solving this business problem by delivering data insights at scale -- without requiring any data movement -- while helping organizations realize the true promise of data lakes. Thanks to the passion and determination of our growing team, we are on track to surpass expectations and finish the year strong.”
To support the company’s growth and market opportunity, ChaosSearch has doubled its employee base in the first half of the year. With an eye toward enhancing the business’ brand recognition and catapulting its go-to market strategy, Courtney Pallotta, VP, Marketing and Chris Sweeney, VP, Sales, joined ChaosSearch in March. Other key hires have included executives within sales, marketing and engineering. To support the organization’s rapid employee growth, VP of People Operations MJ Langlais also recently joined the team. The company expects to double in size again by the end of the year.
From a product perspective, ChaosSearch plans to follow its log analytics and SQL capabilities with machine learning support for a complete, multi-model data lake platform. The company also has plans to expand the clouds that it runs on to include Azure in addition to those it currently supports, AWS S3 and Google Cloud Storage (GCS).
Learn more about the ChaosSearch Data Lake Platform, see a demo and try it for free here.
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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
ChaosSearch empowers data-driven businesses like Blackboard and Equifax to Know Better™, delivering data insights at scale while fulfilling the true promise of the data lake. The only platform designed to support multi-model data, ChaosSearch makes data simultaneously available through Elastic, SQL and in future machine learning APIs. The ChaosSearch Data Lake Platform can connect to and index all data within a customer’s own cloud storage environment, activating it as fully searchable and available for analysis with existing data tools, while delivering massive time, cost and complexity savings. The Boston-based company raised $40M Series B in December 2020 and is hiring to support its hyper growth. For more information, visit ChaosSearch.io or follow us on Twitter @ChaosSearch and LinkedIn.
1Gartner, “Hype Cycle for Data Management, 2021”, Philip Russom, Donald Feinberg, 27 July 2021
2 Gartner, “Hype Cycle for Life Science Commercial Operations, 2021”, Animesh Gandhi, 14 July 2021
3 Gartner, “Hype Cycle for Communications Service Provider Operations, 2021”, Amresh Nandan, Mentor Cana, 14 July 2021
4 Gartner, “Hype Cycle for Oil and Gas, 2021”, Rich McAvey, Nicole Foust, Simon Cushing, 22 July 2021