Analytics Startup Rapid.IO Raises $1.1m from Vesbridge, El Dorado

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RapidIOMinneapolis-based startup Rapid.IO recently raised a $1.1m equity round to capitalize on “an enormous opportunity in enterprise application analytics market,” exclaims co founder Thomas Grabowski.

Rapid.IO is focused on developing technology to provide the flexibility and scalability for web and application logs so that their customers can utilize log data to better understand their business. The SaaS can scale to manage terabytes of log data and produce real-time reporting and complex analytics for business intelligence, compliance reporting, application forensics, and application troubleshooting information.

Grabowski started the venture in 2010 with co founders Jason Destefano and Peter Jordan; the trio’s relationship dates back a decade to the formation of LogLogic, a log management appliance company started in Grabowski’s Minneapolis basement circa 2002.  LogLogic eventually moved out west after raising a $5.5m series A from Sequoia and Telesoft in 2003 — where it remains today — some $58m in VC later, according to Grabowski.

“Given the volume and value of data being created by log data and new web applications in the enterprise,” Grabowski simply felt that it was time to move on from LogLogic and reconnect with his entrepreneurial spirit. “Starting a company from scratch and watching it grow to thousands of customers, only to leave it, is a lot like watching your child grow up and move away,” he reminisces. “Now, we  believe that we can do it again, only bigger.”

The team is eager to expand operations with the recent capital injection from Vesbridge Partners and El Dorado Ventures, saying “We have known Zenas Hutcheson and Jeff Hinck for several years and are very excited to be working with them on building Rapid.IO.”

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