Bigpanda Raises $190 Million In Funding At $1.2 Billion Valuation
01/12/22, 8:00 AM
Location
san franciscoMoney raised
$190 million
BigPanda, Inc., the leader in AIOps Event Correlation and Automation, today cemented its leadership position in the AIOps market with a new $190 million funding round. This financing round was led by Advent International, through its dedicated technology fund, and New York-based global venture capital and private equity firm Insight Partners, with participation by other existing investors. Eric Noeth, partner at Advent, will join BigPanda’s board of directors, and Sanjay Poonen, formerly President of SAP and COO of VMware, will join as a strategic advisor.
Company Info
Location
san francisco, california, united states
Additional Info
The firm has invested in over 380 companies in 42 countries, and as of Sept. 30, 2021, had $86 billion in assets under management. The firm recently raised $4 billion for its second dedicated technology fund, Advent Tech II, and since 2019, has invested in 23 software, data and cybersecurity companies. BigPanda provides an AIOps Event Correlation and Automation platform that enables IT Operations teams to automate incident management and keep their digital businesses running smoothly. This funding will enable BigPanda to continue to innovate on its best-in-class AIOps capabilities, by increasing the size of its machine learning, product, and R&D teams, as well as making strategic acquisitions. Not only is BigPanda the most powerful solution in the market, but they have generated tremendous value for some of the most storied brands across sectors and we are thrilled to be working with the company as it continues innovating in the category.”