Portland tech startup Hydrolix said Thursday that it has raised $80 million in fresh investment, money the data management company plans to use to add staff and expand its presence to more online platforms.
Hydrolix, headquartered in the Kiln coworking space in Southeast Portland, helps companies manage large amounts of online data. Its technology aims to lower the cost of accessing and searching digital information stored in data centers.
The company was founded seven years ago by Marty Kagan and Hasan Alayli, veterans of onetime Portland cloud computing startup Cedexis, which sold to Citrix Systems in 2018.
At Cedexis, Kagan and Alayli said the costs of storing data about website activity were among that company’s biggest expenses.
Hydrolix is their effort at addressing that problem. Its technology is designed to provide efficient tracking of website activity, such as new logins, users clicking links, server activity and system performance.
Fox Sports’ broadcast of this year’s Super Bowl used Hydrolix technology to help manage the video stream of the event, according to the company.
With Thursday’s $80 million round, Hydrolix has raised $148 million altogether. That’s a large sum by the modest standards of Oregon startup activity.
Backers include Blumberg Capital, Frontline Ventures, Pruven Capital and QED Investors, which led Thursday’s investment. The Oregon Venture Fund was an early funder, investing in Hydrolix in 2021.
Hydrolix employs about 190 people, including 35 in Portland. It plans to double the number of local employees in the next year.
“We’re proud to be a part of the next chapter of the company’s growth and are excited to see the impact it will have on Portland and beyond,” said Matt Compton, general partner at the Oregon Venture Fund.
— Mike Rogoway covers Oregon technology and the state economy. Reach him at mrogoway@oregonian.com.
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