BigPanda Raises $190 Million at $1.2 Billion Valuation

BigPanda is a start-up that develops AIOps event correlation and automatic solutions. It is a data science platform for IT platforms centralization and correlation. With its help, IT teams can faster detect and resolve critical issues, using data science to correlate IT alerts from applications, systems, services, and fragmented clouds.

New investments of $15 million are part of the round that was announced this year in January. The funding came from UBS and Wells Fargo, companies that are existing customers. The investments have been made through UBS Next and Wells Fargo Strategic Capital. This round also saw the participation of Advent International and Insight Partners joined by Sequoia Capital, Mayfield, Battery Ventures, Glynn Capital, Greenfield Partners, and Pelion.

BigPanda, California, the USA, was founded in 2011 by Assaf Resnick and Elik Eizenberg. As of now, the company has offices in Tel Aviv, California, and London. The employee team consists of 350 people, 115 of them in Israel. Among BigPanda’s clients are Intel, Cisco, United, Nike, Marriott, and Expedia. BigPanda intelligently clusters IT alerts into high-level incidents so users can spot critical issues and reduce alert noise faster. In 2016 Gartner Research Group recognized the company in “Cool Vendors in Availability and Performance”.

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