The AIOps market continues to flourish.
Some of the companies we’ve covered in the space since the last AIOPs Expo are Virtual Instruments – now called Virtana, FixStream who merged with Resolve Systems, Dynatrace, ScienceLogic and Netrounds who really isn’t in AIOps but they may as well be as their solution does much of what AIOps does but from the user’s perspective.
Continuing the excitement in the space BigPanda Inc., just raised a $50 million Series C led by Insight Partners, with participation from existing investors Sequoia, Battery Ventures, and Mayfield. This investment brings BigPanda’s total funding to more than $120 million.
It has been a while but in 2014, we reported the company raised $7M for IT Incident Management.
“We are proud to partner with BigPanda to transform IT operations with AIOps,” said Lonne Jaffe, Managing Director at Insight Partners. “BigPanda is helping enterprises everywhere tackle a widespread and growing problem of frequent, long, and painful outages that affect users and customers. With a 150%+ year-on-year growth rate and an extraordinary renewal rate, BigPanda’s customers—a group that includes some of the largest and most complex enterprises in the world—are benefiting from a platform that is improving very quickly. BigPanda’s powerful implementation of explainable AI, ‘Open Box Machine Learning,’ fosters trust and is highly differentiated in the market. We’re excited to support BigPanda’s leadership team as they scale up in 2020 and beyond.”
IoT devices, IIoT, analytics and other technologies generate an overwhelming amount of noise and is growing more complex with changes in software and infrastructure happening continuously. The mix of these factors increases the potential for unexpected incidents and outages that are frequent, long, and painful, and not addressable with legacy tools. This Series C investment can be seen as a reward for successfully solving many of these issues for existing customers. Moreover, it will help BigPanda with its mission to assist enterprises in adopting AIOps and intelligently automating and scaling their IT operations.
“IT Operations teams face a big challenge today. The IT environments that they manage are rapidly modernizing and exploding in terms of scale, complexity and velocity. This has created a tsunami of IT data that is overwhelming operations teams and hindering their ability to keep their businesses running smoothly,” said Assaf Resnick, CEO and co-founder, BigPanda. “We founded BigPanda to address this challenge, by leveraging machine learning to transform this data tsunami into actionable insights, adopt AIOps and automate IT Operations beyond the limit of human scalability. This funding round with Insight is a validation of BigPanda’s vision and our success in helping IT Ops, NOC, and DevOps teams move towards an autonomous future.”
As enterprises migrate to the cloud, the speed at which their IT stacks must operate is accelerating. When IT Ops, NOC, and DevOps teams try to use legacy tools and techniques to support cloud-native and hybrid-cloud architectures and applications, incidents and outages become more frequent, last longer, and have a wider impact footprint. This creates serious consequences for businesses in the form of higher operating costs, degraded performance and availability, SLA violations and penalties, and unhappy customers and end-users.
BigPanda’s autonomous operations platform enables organizations to successfully adopt AIOps by leveraging the following features:
- Open-Box Machine Learning. Black-box machine learning is a huge problem in the enterprise, inhibiting trust and adoption of AI. BigPanda’s implementation of explainable AI is guided by the principles of full transparency, testability and control.
- Root Cause Changes. This recently launched feature fast tracks incident and outage resolution in fast-moving IT stacks by identifying the root cause change behind outages and incidents. It does this by ingesting and using Open-Box Machine Learning to correlate and analyze the three critical datasets in IT: alerts, changes and topology.
- Open Integration Hub. The open integration hub makes it easy for enterprises to ingest, normalize and enrich data from all enterprise monitoring, change and topology tools. Dozens of out-of-the-box integrations and an easy-to-use, open APIs makes it easy for BigPanda to work with enterprises’ existing tools, and future-proofs their BigPanda investments.
The Open Integration Hub, Open Box Machine Learning, Root Cause Changes, and other platform capabilities, when combined with a an intuitive operations console that takes users just one to two days to learn, allows customers start to experience value on their BigPanda AIOps investment in as little as a few months.
Big Panda’s funding makes it a major force to be reckoned with as does its powerful list of features. The market for AIOps continues to grow and BigPanda is positioned well as a long-term player in the space with deep pockets to compete for talent and customers.
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