- Autonomous business monitoring company Anodot announced that it has raised $35 million in Series C funding
Autonomous business monitoring company Anodot announced that it has raised $35 million in Series C funding. Including this round of funding, the company has raised a total of $62.5 million.
Intel Capital led the round along with participation from SoftBank Ventures Asia, Samsung NEXT, and La Maison. And existing investors Disruptive Technologies L.P., Aleph, and Redline Capital Management also participated. Intel Capital Investment Director Roi Bar-Kat led the investment and will join Anodot’s board of directors.
This round of funding will be used to support Anodot’s go-to-market activities, including expanding into new verticals such as banking and financial services and building ready-made business packages per use case, as well as increasing hiring across its global team.
Organizations have been increasingly concerned with identifying and addressing business incidents in real-time, especially as markets and global conditions change. And with Anodot’s autonomous monitoring approach, top-tier organizations are able to monitor business metrics, including revenue and costs, partners, and customer experience.
Anodot utilizes unsupervised machine learning to monitor an organization’s business metrics and proactively alert on potential issues. Anodot’s powerful platform, through granular monitoring and analytics capabilities, tracks more than 400 million metrics daily, driving four billion autonomous decisions.
Key Quotes:
“Today’s organizations are facing unprecedented market uncertainty, and many are struggling to achieve visibility into business incidents that cost money, impact third-party tools and platforms, and diminish customer experience. Anodot takes a new approach to business monitoring. By focusing on autonomous monitoring at a granular level, we’re able to deliver the right results in real time to help organizations take immediate action, avoid losses and stay on top of business success, especially in times of economic turbulence. We look forward to leveraging this new capital, and the experience of our investors, to further advance our platform, to expand our team, and to better help organizations effectively identify and address business incidents.”
-David Drai, CEO and co-founder of Anodot
“We strongly believe Anodot, with its machine learning-based monitoring solution, is in the position to help organizations save and optimize business costs. Intel Capital has been following Anodot closely and we are excited to see the continued progress of its platform. Changing market dynamics are going to force companies to become more efficient, and Anodot’s proven ROI model and impressive traction across its enterprise customer base is a game changer.”
-Anthony Lin, vice president and senior managing director of Intel Capital
“Temporary market conditions will not set back a future in which businesses will increasingly harness machine learning and autonomous technologies. These technologies are already being used to provide early warnings about changing business conditions and to act to avoid or mitigate undesirable outcomes. Anodot’s latest round of funding is a vote of confidence in that future.”
-Doug Henschen, vice president and principal analyst of Constellation Research
