February 24, 2021
“What we're witnessing is a major investment cycle away from legacy monitoring tools and toward AIOps platforms,” says CEO Dave Link
ScienceLogic, a provider of AI-driven monitoring solutions for hybrid cloud management, has secured $105 million in growth financing during its Series E funding round.
The round was led by Silver Lake Waterman and supported by existing investors including Goldman Sachs, Intel Capital, and NewView Capital.
The investment is meant to broaden the company’s position within the $30+ billion IT operations management software market by accelerating AI/ML product development and expanding its engineering teams.
AI for IT
With an unprecedented number of companies adopting cloud platforms, the demand for scalable digital services has boomed, and vendors like ScienceLogic are becoming the key beneficiaries of this trend.
“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,” Dave Link, the firm’s founder and CEO, said. “What we're witnessing is a major investment cycle away from legacy monitoring tools and toward AIOps platforms.”
Funds will be allocated to recruitment and products aimed at cloud-native technologies including microservices and container solutions, AI and machine learning, and hybrid cloud operations that transform digital experiences and enhance security.
IT operations management technology is becoming more advanced, as more and more enterprise data is processed outside of core data centers, something Gartner predicts will double in the next two years – and as ScienceLogic’s latest funding round shows, it’s AI and machine learning tools that are set to gain the most.
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