ScienceLogic raises $105mn in new funding to speed AIOps growth
ScienceLogic, a provider of AI-driven monitoring solutions for hybrid cloud management, has raised US$105 million (€86.38 million) in growth financing.
Silver Lake Waterman led the company’s Series E round with participation from existing investors Goldman Sachs, Intel Capital and NewView Capital. The investment will support the company’s continued innovation in the AIOps market and further broaden ScienceLogic’s position within the $30+ billion (€24.68+ billion) IT Operations Management software market.
Companies across the globe are adopting cloud strategies and tools more than ever amid the COVID-19 pandemic, with massive demand for digital services and scalability. We believe ScienceLogic is poised to meet that demand as organisations look for hybrid-cloud toolsets from trusted partners to securely harness business agility, cost savings and innovation.
“More than ever, IT Operations Management has taken root as a front-office priority supporting mission-critical digital experiences that define the way we live, work and play. As large enterprises shift workloads to the cloud while managing on-prem resources, new tools are paramount to deliver service visibility and faster incident resolutions made better by advanced AI/ML technologies,” says Dave Link, founder & CEO of ScienceLogic. “What we’re witnessing is a major investment cycle away from legacy monitoring tools and toward AIOps platforms.”
The funding is intended to accelerate ScienceLogic’s product development and engineering leadership, supporting the company’s broader expansion plans and the reach of its flagship SL1 digital infrastructure monitoring platform. Funds are expected to be allocated toward recruitment efforts and product investments aimed at cloud-native technologies including microservices and container solutions, AI/machine learning, and hybrid cloud operations that transform digital experiences and enhance security.
“The ScienceLogic team has built a leading platform to monitor mission-critical infrastructure and applications and is at the centre of some of the largest, most complex IT environments at the forefront of digital transformation,” adds Shawn O’Neill, managing director and group head of Silver Lake Waterman.
“Dave Link and the leadership team have a long track record of building value and trust with customers and we look forward to partnering with the team and helping drive further adoption”.
Some of the largest global enterprises, federal agencies and managed service providers trust ScienceLogic’s modern platform to ensure availability of their applications and business operations across hybrid-cloud and multi-cloud deployments.
The scalable SL1 monitoring platform helps IT operations teams ingest hyperscale data volume in real-time across disparate hybrid-cloud architectures, while its patented discovery and automation technology improves agility, accelerates incident response and drives productivity by strengthening application health, resolution time and user experience.
The funding news comes after a recent announcement from the company to expand its product development, engineering and sales and marketing staff. ScienceLogic’s AIOps market leadership also was recently highlighted by the Forrester Wave, which included ScienceLogic as one of only three firms highlighted as AIOps Leaders honours that further cement the company’s forward momentum.