Almost tripling in three years from its previous deal in 2022, Israeli firm Coralogix, which provides a full-stack observability and security platform, has received $115 million at a pre-money value of over $1 billion.

The business hopes to improve its AI agent and grow its technical base in India with the new funding. The Canada Pension Plan Investment Board and NextEquity, the venture company established by former Apple executives Avie Tevanian and Fred Anderson, are also participating in the all-equity and all-primary Series E round, which is being headed by California-based venture development firm NewView Capital.

As more businesses store and use data to take advantage of AI's advantages, data observability has grown in importance. However, not every employee in a firm has the time or means to look into a problem in-depth or come to a significant conclusion based on their data stream. Olly, Coralogix's AI observability agent, attempts to address this issue.

In order to help businesses comprehend complex problems, like determining the reasons behind slow service or fixing the most frequent system errors, the agent uses a semantic layer that combines internal data, such as metadata, with external sources, such as information found online, through straightforward text prompts.

According to Ariel Assaraf, co-founder and CEO of Coralogix, the AI agent is trained to respond to more general inquiries than just what is wrong. For example, it can assist customers who want to know which feature is making them the most frustrated, how much they are paying, or who their account representative is who can assist them.