Hydrolix Funding, Investors & Competitors
Hydrolix has raised $145M across 4 funding rounds, most recently a $80M Series C in April 2025.
Last Hydrolix funding round
$80M
Series C · Apr 2025
Cumulative funding Hydrolix raised
$145M
across 4 funding rounds
Key investors in Hydrolix
Wing Venture Capital
Oregon Venture Fund
AV8 Ventures
S3 Ventures
Nava Ventures
QED Investors
Ericsson Ventures
Silicon Valley Data Capital
About Hydrolix
Hydrolix is a Portland-headquartered data lake platform for high-volume log analytics in observability stacks. The system ingests petabytes of telemetry from Kubernetes clusters and cloud services at sub-second query latency while cutting storage costs by 90 percent through time-series partitioning. Adopted by gaming firms and SaaS providers processing 1 PB per day, Hydrolix supports SQL queries on Apache Iceberg format. Founded in 2019, it integrates with Grafana and Datadog for DevOps teams.
Founded
2018
HQ
Portland, ORWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Hydrolix Funding History
Hydrolix has raised a total of $145M across 4 funding rounds.
Hydrolix's first fundraising round was a $10M seed round in February 2021. The most recent completed round was a $80M Series C in April 2025.
Hydrolix funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2025 | Series C | QED Investors (lead) | $80M | Hydrolix, a Portland, Oregon-based data lake platform company, develops a streaming data lake solution that stores, compresses, and queries massive volumes of log data in real time, targeting high-cost data storage and analytics challenges in security, observability, AI-driven applications, fintech, media, and e-commerce. The platform transforms the economics of log data management, enabling real-time analysis for threat detection, debugging, performance monitoring, and more, with partnerships like Akamai's TrafficPeak product and integrations with AWS. On April 3, 2025, Hydrolix closed an $80 million Series C funding round led by QED Investors, with participation from new investors Blumberg Capital, Frontline Ventures, Pruven Capital, Sozo Ventures, and existing backers including Akamai, AV8 Ventures, Ericsson Ventures, Nava Ventures, Oregon Venture Fund, S3 Ventures, Uncorrelated Ventures, and Wing Venture Capital. QED partner Chuckie Reddy joined the board as a director. This round brings total funding to approximately $145-148 million across five rounds, following a $35 million Series B in May 2024 led by S3 Ventures. The funding supports expansion of cloud platform availability, data ingestion capabilities, analytics enhancements, sales and marketing for channel partnerships, and geographic growth in Asia and Europe, where over 40% of revenue already comes from international customers. Investors cited Hydrolix's explosive growth, including eightfold revenue increase in the prior year, sales momentum via its channel program, and market approach as key factors. Hydrolix, founded around 2018, now employs 189 people and addresses ballooning log data costs amid cloud, AI, and security trends. Strategic investors like QED provide fintech expertise, Pruven adds insurance and healthcare ties, while Sozo and Frontline aid Asian and European penetration. |
| May 2024 | Series B | S3 Ventures (lead); Oregon Venture Fund; AV8 Ventures; Nava Ventures; Wing Venture Capital | $35M | Hydrolix is a streaming data lake platform founded in 2018 that disrupts the economics of big data by eliminating the need to manage multiple storage tiers. The company's approach delivers real-time query performance at terabyte scale across both high-volume streaming logs and years of historical raw data. Notable customers include Arkose Labs, MediaMath, Akamai Technologies, and Catchpoint Systems. On May 22, 2024, Hydrolix closed a $35 million Series B funding round led by S3 Ventures, with participation from prior investors Nava Ventures, Wing Ventures, AV8 Ventures, and Oregon Venture Fund. The round brought total company funding to $68 million. Co-founder and CEO Marty Kagan noted the company still had half the capital from its previous $20 million Series A (closed June 2023) when investors suggested pursuing another round based on strong post-Series A trajectory and concerns about year-end market uncertainty. The company demonstrated significant growth momentum entering the Series B. Revenues doubled from Q3 to Q4 2023 and grew an additional 75% in Q1 2024. Annual recurring revenue was approximately $6 million as of Q1 2024. The company's go-to-market strategy evolved significantly, with the new partner channel program delivering superior unit economics: partner sales cycles of 30 days with 70% conversion rates compared to direct sales cycles of nine months with 30% conversion rates. The shift to selling through infrastructure and security managed services partners addressed regulatory and compliance obstacles that complicated direct enterprise sales. Post-money valuation was not publicly disclosed for the Series B round. EBITDA information was not made available in any source. |
| Jun 2023 | Series A | Nava Ventures (lead); Oregon Venture Fund; S3 Ventures; AV8 Ventures; Ericsson Ventures; Wing Venture Capital | $20M | Hydrolix is a Portland, Oregon-based provider of a streaming data lake platform designed to reduce the cost of storing and querying large-scale log and event data for applications in security, observability, AI/ML, and compliance. The company raised $20 million in its Series A round in June 2023, led by Nava Ventures, with participation from AV8 Ventures, Ericsson Ventures, Oregon Venture Fund, S3 Ventures, and Wing Venture Capital, to scale operations and enhance product features. This followed a $10 million seed round in February 2021 led by Wing Venture Capital for initial product development. Subsequent rounds included a $35 million Series B in May 2024 led by S3 Ventures amid 10x growth in its streaming data lake offering, with the same investor group, to expand operations and partnerships. In April 2025, Hydrolix closed an $80 million Series C led by QED Investors, with new and existing investors including AV8 Ventures, Ericsson Ventures, Nava Ventures, Oregon Venture Fund, S3 Ventures, and Wing Venture Capital, to address rising log data storage costs and boost analytics for AI applications. The Series C built on 8x revenue growth in 2024, with over 40% of revenue from international customers and presence in Europe, Asia, and beyond, serving clients like Volkswagen, TUI Travel, and Paris Olympics. Hydrolix powers data-intensive use cases for Fortune 500 companies, emphasizing real-time insights at petabyte scale with drastically lower costs compared to traditional solutions. Total funding reached $145 million by April 2025 across multiple rounds, positioning it as a leader in the data management sector amid growing data needs. |
| Feb 2021 | Seed | Wing Venture Capital (lead); Oregon Venture Fund; AV8 Ventures; Silicon Valley Data Capital | $10M | Hydrolix raised a $10 million seed round in February 2021 led by Wing Venture Capital, with participation from AV8 Ventures, Oregon Venture Fund, and Silicon Valley Data Capital. The funding supported initial product development and market entry for its real-time data platform designed to lower the cost of storing and querying large volumes of log, trace, and metrics data. Founded at the end of 2018 and headquartered in Portland, Oregon, the company had 20 employees across six countries at the time and offered its product on AWS through the Amazon Marketplace, with plans for Azure and Google Cloud versions later that year. The platform addressed high costs in data processing that forced organizations to limit data retention, enabling better utilization of valuable logs, metrics, and traces across teams. Investors highlighted its superior performance at a fraction of the cost of existing analytics solutions, scalable to massive data volumes. This seed came after an initial $5 million raise in late 2020, bringing total funding to $10 million. The logging sector gained attention with acquisitions like CrowdStrike's $400 million purchase of Humio and SentinelOne's $155 million acquisition of Scalyr shortly before. |
Who has invested in Hydrolix?
8 investors have backed Hydrolix across its funding rounds, including Wing Venture Capital, Oregon Venture Fund, AV8 Ventures, S3 Ventures, Nava Ventures and QED Investors.
Lead investors include QED Investors, S3 Ventures, Nava Ventures and Wing Venture Capital.
Hydrolix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Portland, OR | 3 | Participant | Feb 2021 | |
| San Francisco, CA | 3 | Participant | Feb 2021 | |
| San Francisco, CA | 3 | Lead | Feb 2021 | |
| Austin, TX | 2 | Lead | Jun 2023 | |
| San Francisco, CA | 2 | Lead | Jun 2023 | |
| Alexandria, VA | 1 | Lead | Apr 2025 | |
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Start Free TrialHydrolix Competitors
Hydrolix competitors include listed companies like Oracle, Snowflake, Datadog and MongoDB, and private ones like Databricks and VAST Data.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $67B | $33B | $455B | 7.8x | |
| San Francisco, CA | Private | $7B | - | $190B | 27.1x | |
| United States | Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | |
| United States | Publicly listed | $3.4B | ($588K) | $85B | 19.4x | |
| United States | Publicly listed | $2.5B | ($104M) | $32B | 10.4x | |
| New York City, NY | Private | $200M | - | $30B | 150.0x |
Hydrolix Public Comps
Hydrolix is still privately-owned, but its public comps include Oracle, Palantir, Snowflake, Datadog, MongoDB, Nutanix, Dynatrace, Oracle Corp Japan, CommVault Systems and Xunce Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $2.5B | ($104M) | 11.9x | 10.4x | (282.5x) | 49.6x | |||
| $2.5B | $230M | 7.1x | 6.2x | 78.4x | 23.8x | |||
| $2B | $276M | 7.5x | 7.0x | 55.0x | 23.0x | |||
| $1.8B | $589M | 3.9x | 3.9x | 12.1x | 12.2x | |||
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Common questions about Hydrolix
| When was Hydrolix founded? | Hydrolix was founded in 2018. |
| Where is Hydrolix headquartered? | Hydrolix is headquartered in Portland, OR, United States. |
| Is Hydrolix publicly listed? | No, Hydrolix is a private, VC-backed company. |
| How much funding has Hydrolix raised? | Hydrolix has raised $145M across 4 funding rounds. |
| What was Hydrolix's last funding round? | Hydrolix's last funding round was a $80M Series C in April 2025, led by QED Investors. |
| Who are Hydrolix's investors? | Hydrolix's investors include Oregon Venture Fund, AV8 Ventures, Wing Venture Capital, S3 Ventures, Nava Ventures, QED Investors, Silicon Valley Data Capital and Ericsson Ventures. |
| Which companies are comparable to Hydrolix? | Companies comparable to Hydrolix include Oracle, Databricks, Snowflake, Datadog, MongoDB and VAST Data. |
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