BigPanda continues its reign as king in the world of AIOps Event Correlation and Automation with an exciting announcement of new funding. Led by Advent International, this latest round of funding, totaled at $190 million, secures BigPanda’s official Unicorn status and brings their total valuation to $1.2B. BigPanda is now part of a very elite club with under 1,000 members valued at over $1B. WOW!!!
With the addition of funds comes the addition of brainpower — Eric Noeth, partner at Advent, will join BigPanda’s board of directors, and former VMware Chief Operating Officer Sanjay Poonen will join as a strategic advisor. BigPanda’s team is already loaded with great minds, led by CEO Assaf Resnick and CTO Elik Eizenberg.
BigPanda plans to utilize this funding to expand it’s AIOps capabilities and go-to-market activities — making it even bigger and smarter than it already is.
Throughout the past two years, the pandemic has forced the world to go digital, really putting AIOps at the forefront and solidifying the need for sound IT operations. BigPanda’s 2021 AIOps Benchmark Report found more than 90% of organizations are already investing in AIOps or plan to soon, and the 16% of respondents who qualify as early adopters say AIOps already makes a significant operational impact on their organization. This trend has made an already in-demand BigPanda even more of a hot commodity.
“The need among IT Operations teams for AI-powered insights and automation has exploded in recent years,” said Assaf Resnick, co-founder and CEO of BigPanda. “The scale of the digital economy is rapidly growing. At the same time, enterprise adoption of cloud and cloud-native environments has reached a tipping point. This has placed a huge burden on IT Operations teams in terms of the growing scale and complexity of the IT data that must be consumed and responded to in order to keep digital businesses running. These teams are turning to BigPanda for help.”
BOCA is so proud to be working with such a rockstar client. We know 2022 has big things in store for BigPanda. What a way to start the year!!!