TopLog today announced that it has raised a seed round.
The Halifax-based startup raised $400,000 from Innovacorp and BDC Venture Capital. $250,000 came from Innovacorp, Nova Scotia’s early-stage venture capital organization, according to topLog.
The Canadian startup says it will use the funding to finish developing and beta testing its product over the next few months.
“Our technology digs into system log data and shows the system’s normal and abnormal activities,” explains Ozge Yeloglu, topLog co-founder and president. “Eighty percent of system downtime is spent on problem diagnostics. With topLog, IT staff can spend their time dealing with issues, not trying to detect them. This results in less system downtime and data loss, which can lead to big savings for companies.”
TopLog was founded in 2012 by Yeloglu and Patrick LaRoche, two computer science doctoral students from Dalhousie University, and Tokunbo Makanju, who has a PhD from Dalhousie.
“The topLog team possesses deep technical expertise capable of addressing the substantial and costly pain associated with system downtime. The product’s proactive nature will give it a significant advantage over the competition,” said Dawn Umlah, investment manager at Innovacorp.
TopLog’s founding team recently graduated from the Launch36 accelerator program, based in New Brunswick, securing a $150,000 investment from BDC Venture Capital.