For their clients, being able to handle this IT workload more efficiently can mean the difference between their business being up and running, or in the dark
Pelion Venture Partners joined existing investors Sequoia Capital, Battery Ventures, and Mayfield to raise the additional funds. The end of this round brings the IT alert management company to an impressive $30 million in total funding, including a $7 million Series A.
BigPanda’s platform gives IT professionals the ability to organize all of the monitoring services for their network like Amazon’s CloudWatch, Nagios, New Relic and others into one easy-to-use dashboard, providing them actionable insights that can help them resolve issues faster and more efficiently.
When the platform receives alerts, it tracks, sorts, and analyzes them to help prioritize and understand what is causing them. They use an algorithm to cluster the alerts, discover connections between them, and tell the IT where it is affecting parts of the business.
The platform then integrates with various communication tools like JIRA, HipChat, and even Slack to work with the rest of the team in remedying the situation.
For their clients, who receive thousands if not more alerts on a daily basis, being able to handle this workload more efficiently can mean the difference between their business being up and running, or in the dark.
“Every company today is a software company, and uptime is mission-critical,” said Assaf Resnick, BigPanda’s CEO in his statement to the press back in October. “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.”
The company claims that their solutions help IT professionals detect and resolve issues 90% faster than traditional operating procedures.
Founded by Resnick and Elik Eizenberg in 2012, BigPanda is headquartered in Palo Alto, with offices in the heart of Tel Aviv. Listed among their clients are well known names like Wix, PayPal, News Corp, and Gap.
As in cyber security, IT professionals have a rich set of tools available to them to detect and deal with threats to their networks. The challenge then becomes how to manage it all, necessitating the creation of platforms to help generally understaffed teams keep from drowning in the waves of alerts swirling around them. Having a human being investigate every single bug is at this point impractical, given the number of alerts.
“There’s been a platform shift over the last decade toward new types of IT infrastructure and applications, and that’s created a major challenge for IT teams in terms of the scale and complexity of the information they need to track,” said Scott Tobin, general partner at Battery Ventures in the October press release. “There is an enormous opportunity for BigPanda to leverage data science to solve this challenge and help IT keep businesses running.”