BigPanda, an Israeli firm which develops new systems for DevOps and IT, has raised $7 Million in a Series A round of funding. The company intends to use the new capital to accelerate its growth.
The funding came from Mayfield, Sequoia Capital and other investors.
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Sequoia Capital previously led a $1.5 million seed round in BigPanda, which has raised $8.5 million to date.
At the same time BigPanda also launched what it boasts is the world’s first data science platform to automate IT Incident Management. BigPanda’s platform analyzes the flood of alerts that IT teams face every day and clusters them into high-level incidents; it then automates the manual processes involved with detecting, investigating and collaborating around every IT incident. This enables companies to resolve IT issues faster and minimize their impact on customers and revenue.
BigPanda declares that its core innovation lies in its data science approach that enables automation of the time-consuming process involved in responding to IT issues.
Robin Vasan, Managing Director at Mayfield, said: “We are excited to partner with Assaf and his team who are attacking the multi-billion dollar IT service management market with a unique data science-based approach. BigPanda is doing to IT Incident Management what Splunk did for logs and what ArcSight did for security incidents: providing a better way to manage and leverage machine data at scale.”
Shmil Levy, General Partner at Sequoia Capital, said: “IT Incident Management has not kept up with changes in the data center and is ripe for disruption. BigPanda is uniquely positioned to transform the space through its automation platform. The combination of a great team, great technology and a market thirsty for solutions is the reason we invested in BigPanda.”
Assaf Resnick, Co-Founder and CEO of BigPanda, said: “BigPanda is about transforming the way IT teams deal with issues of data center scale and complexity. We are thrilled to be partnering with Mayfield and Sequoia on this vision.”
Assaf Resnick and Elik Eizenberg (VP of R&D) founded BigPanda in 2012 to, “bring a fundamentally new approach to IT Incident management.” BigPanda advisors include Kevin Park, Head of Technical Operations & IT at Dropbox; Gaurav Gupta, Former VP of Product at Splunk; Ariel Tsietlin, Former Director of Cloud Ops at Netflix; Boaz Chalamish, Former SVP & GM of Management at VMware; and Nimrod Hoofien, Director of Engineering at Facebook.