Apica acquires Logiq.ai to bring together observability and synthetic data
Apica, a 17-year old Swedish company, helps companies test applications using synthetic data. Today, the company announced it has acquired Logiq.ai to help expand beyond purely testing into post-production monitoring, an approach which should enable companies to improve their synthetic data set based on the application’s behavior in production.
The company did not share the terms of the deal, but it did announce a new $10 million investment at the same time.
Jason Haworth, chief product officer at Apica says the company helps test applications using synthetic data, a data set that mimics real world use cases, in a variety of situations including checks on smart devices, set top boxes, APIs and other back end protocol sets like database protocols.
“The value is that synthetics allow you to do things from a user perspective, or a machine level perspective, to ask the system certain questions that generate certain metadata that comes through in logs and other component pieces,” Haworth told TechCrunch.
That’s where the Logiq acquisition comes into play. “What Logiq brings to this space is that it can pull in any of the different components from any data source and put them into a data store where it automatically self sorts, self organizes, and puts that data into an enriched format in such a way that our customers aren’t going through and trying to do all these manual processes themselves,” he said.
Typically, companies are working with multiple different tools struggle to pull the data from each of these tools into a central place without a tool like Logiq.
“Logiq allows us to [bring multiple sources of data together] by creating a data fabric and a pipeline, and then creating visualization tools to overlay and enrich those datasets. So you can look at your logs server data, your APM data, your run data that’s coming off of your routers and switches and firewalls and put them into one spot and have a place to be able to have a concentrated look at the data,” Haworth said.
He says the company sees synthetics as a way to understand the system better, and combing that capability with Logiq allows for a feedback loop about the quality of the synthetic data set to make it better over time.
The acquisition closed last week, and Logiq’s 20 employees have joined Apica’s 55 for a total of 75. The company reports $10 million ARR (annual recurring revenue) with 100 customers including Morgan Stanley, MetLife, Delta Dental, John Deere and ABB, among other high profile organizations.
The company expects to begin rolling out the new Logiq functionality inside Apica in the third quarter this year.
The $10 million investment came from existing investors Industrifonden, SEB Foundation and Oxx, and is part of a pattern of the company taking small focussed investment over the years to make strategic pushes such as the purchase of Logiq. The company has now raised approximately $46 million, per Crunchbase data.