Axion Ray raised $17.5M in Series A funding led by Bessemer Venture Partners and RTX Ventures to expand AI capabilities and scale go-to-market efforts.
Mar 12, 2024•almost 2 years ago
Amount Raised
$17.5 Million
Round Type
series a
New YorkMachine LearningArtificial IntelligenceSoftwareInvestors
Inspired CapitalAmploRtx VenturesBessemer Venture Partners
Description
Axion Ray, a NYC-based provider of an AI-powered observability command center, raised $12.5M in Series A funding led by Bessemer Venture Partners including strategic investment from RTX Ventures. Existing investors, Amplo and Inspired Capital also participated. The round brought the total amount to $25M. The company intends to use the funds to further expand its AI capabilities within technical issue detection and scale its go-to-market effort to new industries.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech