- Intelligent AIOps platform provider InsightFinder announced it has raised $2 million in pre-Series A funding
InsightFinder — an intelligent AIOps platform provider — announced it has raised $2 million in pre-series A financing. This round of funding was led by Idea Fund Partners and included participation from existing venture investors Eight Roads Ventures and Acadia Woods Partners.
With this round of funding, InsightFinder plans to use the investment to take its product offering to general availability. Previously, the company was in limited availability for qualified customers.
What does InsightFinder do? InsightFinder enables IT leaders to optimize the performance of digital transformations for enterprises by identifying potential system and application issues before they are able to impact production services thus resulting in maximum system uptime and performance.
InsightFinder is powered by a patented unsupervised neural network and performs real-time anomaly detection across multiple data sources, including logs, metrics, and traces, and predicts future incidents. Plus it enables IT leaders to take steps to prevent these issues from surfacing. And the platform also accurately diagnoses the root cause of each system issue and initiates automated self-healing responses to minimize the impact of service outages.
In conjunction with the funding round, InsightFinder also announcing two key hires to join its executive team, including Rami Essaid (founder and former CEO of Distil Networks) and Greg Lissy (former executive at Citrix, SolarWinds, Red Hat, and Microsoft). Both of them will be leading product strategy and execution.
“InsightFinder is the culmination of over 15 years of research funded by the National Science Foundation, and the technology has been validated at some of the largest companies in the world. We are excited to have Rami and Greg join InsightFinder to help bring the power of our technology into the hands of more IT operations teams,” said InsightFinder founder and CEO Xiaohui (Helen) Gu.
InsightFinder has received a Small Business Innovation Research (SBIR) grant in 2015 from the National Science Foundation. And in 2017, the company was awarded a Phase II SBIR grant from the same institution.
“We are excited about the market opportunity for InsightFinder. Given the volume, variety, and speed that data is created in today’s hybrid dynamic IT environments, AIOps is increasingly essential to maintain a proactive stance in IT infrastructure and operations,” added Idea Fund Partners managing partner Lister Delgado. “We are impressed with InsightFinder’s distinctive use of unsupervised machine learning to extract insights much faster and with a higher degree of accuracy than competing solutions. There’s a lot of growth potential here, and we are thrilled to be leading this investment round.”
