ScienceLogic Inc., a business that uses artificial intelligence to manage IT operations, said today that it secured $105 million in expansion funding.
Silver Lake Waterman, who had previously invested with Goldman Sachs, Intel Capital, and NewView Capital, headed the Series E investment. The business has now raised $214 million in total capital.
Dave Link, the founder and CEO of ScienceLogic, told SiliconANGLE that “it’s a watershed point for the firm.” “This money is really fueling what we’re doing,” the investor said.
ScienceLogic, established in 2003, has become one of the market’s top AIOps vendors. The term “AIOps” was originally used by Gartner Inc. in 2017 to refer to the possibility of automating the management of information in IT settings.
It aims to replace the present IT operations management point tools with a larger platform created specifically for hybrid cloud systems. In the larger IT observability industry, ScienceLogic contends with companies like Dynatrace LLC and Datadog Inc.
There are two main solution categories for AIOps, according to later research from Wikibon, a SiliconANGLE Media-owned market research company. The first uses AI tools to speed up and automate application workloads, while the second uses AI to grow and improve IT infrastructures on all fronts. The capacity of AIOps to manage enormous amounts of data becomes crucial at that point.
The SL1 Platform from ScienceLogic offers a holistic view of the IT infrastructure, whether it is on-premises or in the cloud, and includes analyzing app performance and how it affects the big picture. The platform assists in gathering resources and data into a single functional datastore and enhances that information with contextual information.
According to ScienceLogic, some of the biggest multinational corporations managed service providers, and government organizations are presently using its system to assure the availability of their applications and business processes across hybrid-cloud and multi-cloud deployments. According to the company, the SL1 platform strengthens app health, resolution times, and user experiences to assist these companies to enhance productivity, raising total adaptability, and responding to incidents more quickly.
The cash announced today, according to ScienceLogic, will be applied to speed up product development and engineering leadership in support of its larger growth objectives. According to the statement, monies would be dedicated to both product investments and recruitment efforts for cloud-native technologies like microservices, software containers, artificial intelligence, machine learning, and hybrid cloud operations.