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June 1 (Reuters) - Sumo Logic, which makes cloud-based tools to crunch data on a massive scale, said it raised $80 million in a funding round led by DFJ Growth and new investor Institutional Venture Partners.
Existing investors Greylock Partners, Sequoia Capital, Sutter Hill Ventures and Accel Partners participated in the funding, the company said.
Sumo Logic said the funding will fuel growth across its business, including sales, global operations and engineering activity.
The company said it expects to double its headcount to about 400 employees within the next year to support a huge increase in customer demand.
Sumo Logic said it has raised a total of $160.5 million in funding.
"Sumo Logic is the first investment in IVP XV, a $1.4 billion fund focused on high-growth, later-stage technology companies," said Steve Harrick, general partner at Institutional Venture Partners. (Reporting by Zara Mascarenhas in Bengaluru; Editing by Anupama Dwivedi)