BigPanda Raises $16 Million To Expand Data Science Platform To Tackle Data Explosion in IT
Funding Led by Battery Ventures with Participation from Sequoia, Mayfield
Current Enterprise Customers Include: Gap, News Corp, and Caesars
Mountain View, Calif. – Oct. 1, 2015 – BigPanda, the data science platform that correlates the ever expanding volume of IT data and alerts into consolidated insights for businesses, announced it has raised $16 million in Series B financing led by Battery Ventures, with participation from existing investors Sequoia Capital and Mayfield. Scott Tobin, general partner at Battery Ventures, will join the company’s board.
BigPanda helps companies in a wide variety of industries – from retail to technology to media – drive revenues and keep customers happy by minimizing painful IT service disruptions or preventing them in the first place.
“Every company today is a software company, and uptime is mission-critical,” said Assaf Resnick, BigPanda’s CEO. “If you’re a retailer and your point-of-sale (POS) system is down, your business is down. If you’re an airline and your reservation system is down, your business is down. Our goal is to make it easy for businesses to quickly detect and resolve IT issues in order to minimize downtime and maximize customer satisfaction, both of which directly impact the bottom line.”
BigPanda’s value proposition is a reflection of two IT mega-trends in the market today: the explosion of data related to IT alerts, which is due to the growing scale and complexity of modern data centers, and the fact that companies are increasingly reliant on sophisticated software to power their business. This explosion of IT data has turned into a painful problem for IT and DevOps teams, as they struggle to manually investigate all this data in order to prevent problems and keep their businesses running smoothly.
BigPanda solves this problem using data science algorithms to automatically analyze all of an organization’s IT alerts–such as those related to the performance of critical software, systems and data centers–and turn them into actionable insights. This helps IT and DevOps teams to detect and resolve issues nearly 90 percent faster than with traditional methods. By working with BigPanda, customers can quickly act on potential issues in order to minimize downtime, drive revenue, and maximize customer satisfaction. Specifically, BigPanda helps companies like Caesars, Gap, News Corp, PayPal and Wix keep their business running smoothly.
“BigPanda helps us maximize uptime and provide better service to our customers,” said Jeremy Kenyon, network operations manager at Move.com, a subsidiary of News Corp. “The technology helps us sort through mountains of IT data so we can quickly see what’s really going on, and make sure that customers always have the best possible experience with our service.”
“There’s been a platform shift over the last decade toward new types of IT infrastructure and applications, and that’s created a major challenge for IT teams in terms of the scale and complexity of the information they need to track,” said Scott Tobin, general partner at Battery Ventures. “There is an enormous opportunity for BigPanda to leverage data science to solve this challenge and help IT keep businesses running.”
For more information on BigPanda, visit www.bigpanda.io
BigPanda’s mission is to keep businesses running by improving how IT teams manage the explosion of IT data they face every day. BigPanda uses data science to analyze massive volumes of IT alerts from fragmented clouds, applications, and systems, and turn them into actionable insights. Founded in 2012, the company is backed by Sequoia Capital, Mayfield and Battery Ventures. BigPanda is headquartered in Mountain View, CA with offices in Tel Aviv. For more information, visit: http://www.bigpanda.io or follow BigPanda on Twitter @bigpanda.