- Autonomous Operations platform company BigPanda announced that it raised $50 million in Series C funding
BigPanda — a provider of the first Autonomous Operations platform — announced that it raised $50 million in Series C funding to help enterprises successfully adopt AIOps in their IT Operations, Network Operations Center (NOC), and DevOps teams. This round of funding was led by Insight Partners with participation from existing investors Sequoia, Battery Ventures, and Mayfield. And this investment brings BigPanda’s total funding to over $120 million.
“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.”
With the changes in software and infrastructure happening hundreds of times every day, there has been an overwhelming amount of noise and growing complexities. As a result, there has been an increase in unexpected incidents and outages that are frequent, long, and painful, and not addressable with legacy tools.
This funding round validates BigPanda’s approach to solving these issues and will help enterprises adopt AIOps and intelligently automate and scale IT operations.
As enterprises are migrating to the cloud, the speed at which their IT stacks must operate is accelerating. And 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. As a result, 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 Open Box Machine Learning, Root Cause Changes, and Open Integration Hub.
BigPanda’s Open Integration Hub, Open Box Machine Learning, Root Cause Changes, and other platform capabilities — when combined with a highly 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 just 8 to 12 weeks in most cases.
“We are proud to partner with BigPanda to transform IT operations with AIOps,” added 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.”