Overview

Elastic provides search-powered solutions that help businesses search, analyze, and visualize data in real-time. Its main product, Elasticsearch, is a search engine that can be used in the cloud or on-premises, allowing organizations to manage large volumes of data effectively. This capability is essential for making informed decisions and improving operational efficiency. Elastic serves a wide range of clients, including large enterprises, small businesses, and government agencies across various industries such as technology, healthcare, finance, and retail. Unlike many competitors, Elastic offers flexible deployment options, including a hosted service (Elastic Cloud) and on-premises solutions (Elastic On-Prem), along with orchestration subscriptions for centralized management. The company's goal is to empower organizations to harness their data through effective search and analysis, driving better decision-making and operational success.

Simplify's Take

What believers are saying

• Elastic's partnership with Tines enhances security operations with SOAR and AIOps solutions.
• The Microsoft Semantic Kernel connector improves search relevance and user experience.
• Achieving AWS Government ISV Partner Competency opens new public sector opportunities.

What critics are saying

• Open-source alternatives like OpenSearch increase competition for Elastic.
• Managing and scaling Elastic's solutions can be complex, risking customer dissatisfaction.
• Dependence on major cloud providers like AWS could impact market share and pricing.

What makes Elastic unique

• Elastic offers a comprehensive suite of search-powered solutions for diverse industries.
• Elastic's AI-optimized architecture supports low-latency and native vector database capabilities.
• Elastic's subscription-based model provides steady revenue and flexibility for clients.

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Funding

Total Funding

$414M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:

New Enterprise AssociatesBenchmarkSV Angel

Notable Investors:

New Enterprise AssociatesBenchmarkSV Angel

$252,000,000

IPO

Oct 2018

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