{"id":15699,"date":"2019-11-26T20:53:55","date_gmt":"2019-11-27T01:53:55","guid":{"rendered":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/?p=15699"},"modified":"2022-10-14T18:27:35","modified_gmt":"2022-10-14T22:27:35","slug":"bigpanda-gets-50m-for-aiops","status":"publish","type":"post","link":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/ai\/bigpanda-gets-50m-for-aiops.html","title":{"rendered":"BigPanda Gets $50M for AIOps"},"content":{"rendered":"\n

The AIOps market continues to flourish.<\/p>\n\n\n\n

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Some of the companies we’ve covered in the space since the last AIOPs Expo<\/a> are Virtual Instruments – now called Virtana<\/a>, FixStream who merged with Resolve Systems<\/a>, Dynatrace<\/a>, ScienceLogic <\/a>and Netrounds <\/a>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.<\/p>\n\n\n\n

Continuing the excitement in the space BigPanda Inc.,<\/a> 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\u2019s total funding to more than $120 million.<\/p>\n\n\n\n

It has been a while but in 2014, we reported <\/a>the company raised $7M for IT Incident Management.<\/p>\n\n\n\n

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Lonne Jaffe, Managing Director at Insight Partners <\/figcaption><\/figure><\/div>\n\n\n\n

\u201cWe are proud\nto partner with BigPanda to transform IT operations with AIOps,\u201d said Lonne\nJaffe, Managing Director at Insight Partners. \u201cBigPanda is helping enterprises\neverywhere tackle a widespread and growing problem of frequent, long, and\npainful outages that affect users and customers. With a 150%+ year-on-year\ngrowth rate and an extraordinary renewal rate, BigPanda’s customers\u2014a group\nthat includes some of the largest and most complex enterprises in the world\u2014are\nbenefiting from a platform that is improving very quickly. BigPanda\u2019s powerful\nimplementation of explainable AI, \u2018Open Box Machine Learning,\u2019 fosters trust\nand is highly differentiated in the market. We\u2019re excited to support BigPanda\u2019s\nleadership team as they scale up in 2020 and beyond.\u201d<\/p>\n\n\n\n

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.\u00a0<\/p>\n\n\n\n

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Assaf Resnick, CEO and co-founder, BigPanda <\/figcaption><\/figure><\/div>\n\n\n\n

\u201cIT Operations\nteams face a big challenge today. The IT environments that they manage are\nrapidly modernizing and exploding in terms of scale, complexity and velocity.\nThis has created a tsunami of IT data that is overwhelming operations teams and\nhindering their ability to keep their businesses running smoothly,\u201d said Assaf\nResnick, CEO and co-founder, BigPanda. \u201cWe founded BigPanda to address this\nchallenge, by leveraging machine learning to transform this data tsunami into\nactionable insights, adopt AIOps and automate IT Operations beyond the limit of\nhuman scalability. This funding round with Insight is a validation of\nBigPanda\u2019s vision and our success in helping IT Ops, NOC, and DevOps teams move\ntowards an autonomous future.\u201d<\/p>\n\n\n\n

As enterprises\nmigrate to the cloud, the speed at which their IT stacks must operate is\naccelerating. When IT Ops, NOC, and DevOps teams try to use legacy tools and\ntechniques to support cloud-native and hybrid-cloud architectures and\napplications, incidents and outages become more frequent, last longer, and have\na wider impact footprint. This creates serious consequences for businesses in\nthe form of higher operating costs, degraded performance and availability, SLA\nviolations and penalties, and unhappy customers and end-users. <\/p>\n\n\n\n

<\/strong>BigPanda\u2019s autonomous operations platform enables organizations to successfully adopt AIOps by leveraging the following features:<\/p>\n\n\n\n