The expense of storing the logs that were essential to our business was going to be one of Cedexis' biggest expenses, second only to payroll. This disturbing cost burden weighed heavily on our minds, even after Hasan and I each moved on to our next adventures.
Hydrolix doubled revenues from Q3 to Q4 in 2023 and grew another 75% in Q1 of 2024, with annual recurring revenue at roughly $6 million. The startup closed a $35 million Series B round, bringing total raised to $68 million.
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