Israeli real-time application repair company Takipi has closed its $15 million Series B round of financing to scale its efforts in the enterprise IT operations market. The round was led by Lightspeed Ventures with participation from existing Series A investors Menlo Ventures, and will accelerate the company’s investments in sales, marketing and R&D. To date, the company has raised $22 million.
Takipi was founded in Israel in 2012 by CEO Tal Weiss, who previously founded VisualTao, which was acquired by AutoDesk, and VP marketing Iris Shoor. The company has moved its headquarters to San Francisco and maintains its development center in Tel Aviv.
Takipi transforms application logs into real-time intelligence that enables modern development and operations teams to solve critical production issues in minutes vs. days or weeks. Takipi’s 120+ enterprise and mid-market customers find the root cause of issues 10x faster compared to traditional log management tools, presenting unique, actionable data (the complete call stack, source code and state) behind every error in production.
In their previous company VisualTao, acquired by Autodesk (ADSK), Takipi’s founders experienced firsthand the pains of developing software for large-scale production distributed systems.
Weiss said, “It’s much like performing open heart surgery on a train that’s running 100mph. While modern software architectures are built for speed and scale, log files have remained pretty much the same for over 20 years. No matter how you look at it, logs are still too complex to analyze unstructured text files, limited by the type of data they hold, and are growing at an exponential rate.”
In today’s environments, companies need to overcome the operational challenges of agile, micro-services, cloud, and mobile technologies as they look to digitize their business. When applications break, fail, or experience downtime, collecting the right information needed to resolve the business impact becomes a nearly impossible task.
Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2016
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