ScienceLogic Inc., a startup using artificial intelligence for managing information technology operations, said today it has raised $105 million in growth financing.
The Series E round was led by Silver Lake Waterman, with participation from existing investors Goldman Sachs, Intel Capital and NewView Capital. It brings the company’s total funding raised to $214 million.
“It’s a watershed moment for the company,” ScienceLogic founder and Chief Executive Dave Link (pictured) told SiliconANGLE. “This investment is essentially pouring gas on what we’re doing.”
Founded in 2003, ScienceLogic has emerged as one of the leading players in the AIOps market. AIOps is a phrase that was first coined by Gartner Inc. in 2017 to describe how information in IT environments could be potentially managed through automation.
It’s essentially a bid to replace current IT operations management point tools with a broader platform built for hybrid cloud environments from the ground up. ScienceLogic competes with the likes of Dynatrace LLC and Datadog Inc. in the broader IT observability market.
Later research from Wikibon, the market research firm owned by SiliconANGLE Media, identified two broad solution categories for AIOps. One involves use of AI tools to accelerate and automate application workloads, and the other leverages AI to scale and optimize IT infrastructures at every level. That’s where the ability of AIOps to handle vast amounts of data becomes most critical.
ScienceLogic’s SL1 Platform provides a unified overview of the IT infrastructure, in the cloud or on-premises, that includes monitoring application performance and how that affects the overall picture. The platform helps consolidate tools and information into a single operational data lake and enriches that data with contextual insights.
“The future is less managing one thing — a router, a switch, a load balancer — and more managing the system overall,” Link said. “Organizations need to modernize their tools.”
ScienceLogic says its platform is currently being used by some of the largest global enterprises, managed service providers and federal agencies to ensure availability of their applications and business operations across hybrid-cloud and multicloud deployments. The SL1 platform helps these customers improve their overall agility, accelerate incident response and increase productivity by strengthening application health, resolution times and user experiences, the company said.
Joe Damassa, vice president of global services at IBM Corp., best described the value of ScienceLogic’s platform during a 2019 appearance on theCUBE, SiliconANGLE’s video studio. “It’s the breadth of their platform in terms of the different things it can monitor, the depth and ability to go into containers and understand what the applications are doing, and the scale in terms of the types of devices,” he said.
ScienceLogic said today’s funding will be used to accelerate its product development and engineering leadership in support of its broader expansion plans. It said that funds will be allocated toward both recruitment efforts and product investments aimed at cloud-native technologies such as microservices and software containers, artificial intelligence, machine learning and hybrid cloud operations.
Link said the company expects to hire 150 additional people this year, which amounts to 40{13aab5633489a05526ae1065595c074aeca3e93df6390063fabaebff206207ec} of its staff.
Link appeared on theCUBE himself back in 2018 to discuss the power of AIOps with SiliconANGLE founder and theCUBE host John Furrier:
With reporting from Robert Hof
Photo: SiliconANGLE
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