Loggly has just secured a new round of funding for its event-logging Loggly API. The company added $5.7 million which more than doubles the $4.7 million total from series A & B investment rounds. This round introduces a new investment partner, Matrix Ventures, as well as a new CEO Charlie Oppenheimer and CTO Jim Nisbet. Oppenheimer hails from Matrix Ventures where he served as an executive in residence.
Innovation in web service APIs is not always technical, sometimes it's about money. Such is the case with Yahoo's announcement that later this year they will begin charging for usage of BOSS (Build your Own Search Service), their search web service for developers. Given that search revenue is typically ad-driven, and that advertising doesn't typically mesh with APIs, this has meant that search APIs have been one of the most challenging classes of APIs for providers to monetize. So it's notable to see how Yahoo has chosen to tackle this: via a 'utility' pricing model, somewhat akin to how infrastructure services like Amazon Web Services charge by usage.