BigPanda develops AI-driven AIOps software that analyzes observability and monitoring data to prevent corporate network outages by correlating events, automating incident response (including ticketing), and recommending fixes. The platform can optionally connect to third-party runbook automation tools to run automated workflows and provides analytics to track incident trends and measure progress toward goals. Founded in 2012 by Assaf Resnick and Elik Eizenberg, the company reports about 100 customers, including UBS and Wells Fargo. Revenue remains under $100 million with an approximately 80% gross margin, and its valuation is reported at $1.2 billion. Part of the new capital will be used for hiring; BigPanda plans to finish 2022 with over 350 employees, up from 330. It competes in AIOps with vendors such as ScienceLogic, Coiled, OpsRamp and larger entrants like New Relic and ServiceNow. BigPanda provides an AIOps Event Correlation and Automation platform that enables IT operations teams to automate incident management and keep digital businesses running smoothly. The platform helps businesses prevent IT outages, increase the velocity of their digital operations, and deliver improved customer experiences. Customers include Fortune 500 enterprises such as Intel, Cisco, United, Abbott, Marriott and Expedia. Led by co-founder and CEO Assaf Resnick, the company plans to use its new funding to expand its machine learning, product, and R&D teams and pursue strategic acquisitions to advance its AIOps capabilities. BigPanda also intends to scale go-to-market activities by building out sales, marketing, customer success, and partnership teams. Financially, the company announced a $190M funding round at a $1.2B valuation. BigPanda offers a platform that captures alerts, changes and topology data from disparate tools and uses Open Box Machine Learning to reduce IT noise, detect incidents and surface probable root causes in real time. The product is aimed at IT Ops, NOC and DevOps teams to speed detection, investigation and resolution of outages and incidents. Customers cited in the article include Intel, TiVO, Warner Media and Workday. The company is based in Mountain View, California and was founded in 2012 by Assaf Resnick, CEO. BigPanda intends to use new funding to expand its platform and grow market presence. The company has raised more than $120M in total funding after the latest round. BigPanda provides an Algorithmic Service Operations cloud platform that employs machine learning to process large volumes of alert traffic from fragmented clouds, applications and monitoring tools into a manageable number of incidents. The company says its platform reduces IT noise by an average of 91 percent for large enterprise customers and launched an “Open-Box” machine learning capability to give customers visibility and control. BigPanda has more than tripled bookings in the past 12 months, added major enterprise customers including Intel, Workday, Turner Broadcasting, Macy’s and Riot Games, and grown headcount by over 150 percent in the last year. The company targets the $23B IT Operations Management market and emphasizes replacing legacy IT event management tools and automating manual service operations. Management plans to accelerate its enterprise go-to-market strategy and expand technology leadership with support from new investors. BigPanda builds an Alert Correlation Platform that uses data science to analyze massive volumes of IT alerts from fragmented clouds, applications and systems and turn them into actionable insights. The company helps IT Ops teams detect and resolve incidents faster and minimize service downtime; its customer roster includes Gap, News Corp, Caesars, PayPal and Wix. BigPanda reported doubling its customer base in the prior six months and has signed integrations with Atlassian (JIRA, HipChat, Bitbucket) and an expanded integration with ServiceNow. Founded in 2012 and headquartered in Palo Alto, California, BigPanda said it will use new funding to expand its data science platform and grow its U.S. team. The company frames its mission around reducing costly IT service disruptions and improving incident resolution to protect revenue and customer satisfaction. Total funding to date is $30 million.

Total raised

$311M

Funding rounds

7

Latest round

Series E

Latest activity

Aug 2022