Israeli big data startup BigPanda has raised a further $23 million to its Series B financing round for a total of $49 million. Leading this round is Greenfield Partners, a partnership backed by TPG Growth, with further participation by existing BigPanda investors Sequoia Capital, Battery Ventures and Mayfield. The company has raised $53 million to date.
BigPanda’s cloud platform employs machine learning to process large volumes of alert traffic from fragmented clouds, applications and IT monitoring tools down to a manageable number of incidents for faster resolution by IT Service Operations teams. In the past 12 months BigPanda has more than tripled its bookings, adding large enterprise customers such as Intel, Workday, Turner Broadcasting, Macy’s and Riot Games.
Established in 2012 by CEO Assaf Resnick and VP R&D Elik Eizenberg, the company has set up headquarters in Palo Alto, California and maintains its development center in Tel Aviv.
Resnick said, ““Driven by Cloud and DevOps, the data center has radically transformed in terms of scale, fragmentation and speed. That’s left enterprise IT Service Operations teams - whose job it is to manage mission critical applications and infrastructure - struggling to catch up and keep their businesses running smoothly. Our vision of using machine learning to automate and scale Service Operations matches the needs of our new and existing customers. We’re thrilled that Greenfield Partners shares this vision. With their support, we plan to accelerate our enterprise go-to-market strategy and expand our technology leadership.”
Published by Globes [online], Israel business news - www.globes-online.com - on November 1, 2017
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