Israeli IT alert company BigPandahas raised $16 million led by Battery Ventures with the participation of previous investors Sequoia Capital and Mayfield. BigPanda has developed swift and effective management tools to handle IT breakdowns in organizations. The company has raised $25 million to date.
Battery Ventures partner Scott Tobin joins BigPanda's board of directors.
Established in 2012 by CEO Assaf Resnick and VP R&D Elik Eizenberg, the company has set up headquarters in Mountain View, California and maintains its development center in Tel Aviv. 15 of the company's 35 employees are in Tel Aviv and over the next year BigPanda plans hiring 40 employees, 15 of them in Israel, mainly UX/UI engineers in the enterprise field. The company wants to expand its data science platform to tackle the data explosion.
BigPanda's IT product is being developed mainly for teams assisting an organization to function more effectively with high data loads, especially when there are alerts about a breakdown. The company is developing algorithms that analyze and monitor all alerts, and can swiftly solve over 90% of problems without resorting to the company's systems.
BigPanda's clients include Cisco, Paypal, Gap, WIX and others.
Resnick said, "Every company today is a software company, and uptime is mission-critical. If you're a retailer and your point-of-sale (POS) system is down, your business is down. If you're an airline and your reservation system is down, your business is down. Our goal is to make it easy for businesses to quickly detect and resolve IT issues in order to minimize downtime and maximize customer satisfaction, both of which directly impact the bottom line.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 1, 2015
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