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AIOps startup ScienceLogic raises $25M to support global expansion
Startup ScienceLogic Inc., which offers artificial intelligence for information technology operations, a fast-growing field known as AIOps, today said it has raised $25 million in new funding to support a global expansion.
The $25 million comes in the form of a credit facility from Square 1 Bank, a division of Pacific Western Bank.
Founded in 2003, ScienceLogic is an IT operations management provider that claims its solution sees everything across cloud and distributed architectures, contextualizes data through relationship mapping and acts on this insight through integration and automation. In May, the company launched SL1, an automation engine for AIOps, a platform that monitors both on-premises and cloud-based IT assets, enabling customers who use public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud, to manage the deployment in an enterprise.
“This new flexible line of credit from Square 1 supports ScienceLogic’s current initiatives of global expansion, ongoing product development, and continued growth into new market segments,” Patrick McCoy, ScienceLogic chief financial officer, said in a statement. “We’re coming off our most successful quarter in the history of our company, now cash flow positive and debt free. This increase in our credit line further ensures ScienceLogic will be more agile with future growth opportunities.”
ScienceLogic claims to have thousands of customers, with the U.S. Department of Defense one of its biggest clients. Including the new funding, ScienceLogic has raised just over $100 million to date. Previous investors include New Enterprise Associates, Intel Capital and Goldman Sachs.
“We have this next wave of computer architecture, cloud computing and edge computing,” Chief Executive Dave Link said in a recent interview in the Palo Alto, California studio of theCUBE, SiliconANGLE Media’s video studio. “The way you manage that infrastructure is different from the classic client-server. Applications are now more infrastructure-aware. That puts a huge strain on our industry.”
What ScienceLogic aims to do, he said, is to combine legacy and cloud infrastructure in one management and monitoring system. Here’s the complete video interview with Link:
Image: ScienceLogic
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