Moogsoft, a leader in providing next-generation manager of managers (MoM) services for IT operations, today announced that Cisco Investments and another large public company invested in a second closing to its previously announced Series B round of funding, now totaling $14.3 million. With a first closing in July, the round was led by Wing Venture Capital, with existing investors, including Redpoint Ventures.
“The additional funds will accelerate our plans for a new era of operational tools that are smarter and more effective for this new era of IT,” said Phil Tee, CEO of Moogsoft. “Today, IT Ops, DevOps, and DevQA teams require a solution that analyzes the massive amounts of data produced by applications, tools and infrastructures and identifies service-affecting situations as they happen.”
Moogsoft’s flagship product, Incident.MOOG, is a next-generation manager of managers used by web-scale enterprises and service providers to create collaborative situational awareness for their IT Operations Management (ITOM) and IT Service Management (ITSM) teams. Using patent-pending machine learning technology, Incident.MOOG automates the early detection of service failures, reduces the noise without dependence on preset rules or models, creates contextualized situations and then orchestrates rapid restoral of business services.
Companies like RetailNext, a leader in applied Big Data for physical retail, have deployed Incident.MOOG to ensure continuous availability and service quality of its Internet of Things-driven data analytics solutions.
The additions to the Series B financing, together with Moogsoft’s Series A financing, which closed in 2013, brings the total raised by Moogsoft to more than $23 million. Moogsoft began customer deliveries in February 2012 and was immediately recognized as a “Cool Vendor in Application Performance Monitoring” by Gartner. Since then, the company has established partnerships with leading vendors in the ITSM and DevOps sectors and expanded its presence across Europe, North America, and Asia, winning customers who are reinventing IT Operations Management for competitive advantage.