Financial boost for Logmind

Logmind SA, an EPFL spinoff, has developed a web-based SaaS platform based on artificial intelligence and machine learning that allows billions of log data from complex IT systems to be analysed in real time and converted into meaningful insights. After analysing the log data, the platform informs IT teams of potential infrastructure or network problems and provides recommendations for solutions. The platform thus facilitates the work of IT managers and developers by streamlining the administration, maintenance and security of their IT assets. The target group for this solution includes medium and large companies in Switzerland and Europe. 

The startup has successfully closed a seed financing round to help the team accelerate the development and commercialization of its cloud-based log data analysis platform. The funds will also be used to strengthen Logmind's market presence, expand its team, and support further R&D efforts.

Lead investor Spicehaus Partners was joined by international angel investors. "We are impressed by Logmind's innovative approach and their potential to prevent IT incidents with the use of AI-powered data intelligence platform. This investment aligns with our commitment to support visionary Swiss software companies that scale internationally”, commented a spokesperson from Spicehaus Partners on their new investment.

So far, Logmind has received support from the Foundation for Technological Innovation (FIT) twice with the Digital Grant in 2018 and the Digital Seed in 2019. The startup also has received several awards such as the Digital Award 2020 and La Forge Acceleration Programme’s award.  

(Press releases / SR)