SOURCE: BigPanda

BigPanda

October 28, 2014 00:01 ET

BigPanda Announces $7 Million in Funding From Mayfield and Sequoia to Bring Data Science to IT Incident Management

Advisors Include IT and Infrastructure Executives From Dropbox, Splunk, Netflix, VMware and Facebook

MOUNTAIN VIEW, CA--(Marketwired - Oct 28, 2014) - BigPanda today announced that it has raised $7 million in a Series A round of funding, led by Mayfield with participation from Sequoia Capital, which previously led a $1.5 million seed round. BigPanda, which has raised $8.5 million to date, plans to use the funding to further accelerate its roadmap and growth.

Also today BigPanda launched the world's first data science platform to automate IT Incident Management: http://www2.marketwire.com/mw/release_html_b1?release_id=1154045.

BigPanda was born out of a long time frustration with the daily grind that every IT team faces -- responding the torrent of daily IT issues that may impact customers and revenue. As data centers have exploded in scale and complexity in recent years, so have the number of IT alerts that require immediate attention. That has created a major bottleneck for IT teams, which continue to rely on slow and manual Incident Management software that was not built for the scale of modern IT environments which may have hundreds or thousands of daily alerts.

Assaf Resnick (CEO) and Elik Eizenberg (VP of R&D) founded BigPanda in 2012 to bring a fundamentally new approach to IT Incident Management. The team has deep expertise in data science, IT infrastructure management and DevOps collaboration and comes from organizations like New Relic, Atlassian (JIRA), MarketWindows (algo trading firm) and HP Mercury. BigPanda advisors include Kevin Park, Head of Technical Operations & IT at Dropbox; Gaurav Gupta, Former VP of Product at Splunk; Ariel Tsietlin, Former Director of Cloud Ops at Netflix; Boaz Chalamish, Former SVP & GM of Management at VMware; and Nimrod Hoofien, Director of Engineering at Facebook.

Robin Vasan, Managing Director at Mayfield, said:

"We are excited to partner with Assaf and his team who are attacking the multi-billion dollar IT service management market with a unique data science-based approach. BigPanda is doing to IT Incident Management what Splunk did for logs and what ArcSight did for security incidents: providing a better way to manage and leverage machine data at scale."

Shmil Levy, General Partner at Sequoia Capital, said:

"IT Incident Management has not kept up with changes in the data center and is ripe for disruption. BigPanda is uniquely positioned to transform the space through its automation platform. The combination of a great team, great technology and a market thirsty for solutions is the reason we invested in BigPanda."

Assaf Resnick, Co-Founder and CEO of BigPanda, said:

"BigPanda is about transforming the way IT teams deal with issues of data center scale and complexity. We are thrilled to be partnering with Mayfield and Sequoia on this vision."

For Resnick's blog on today's news, simply go to: http://blog.bigpanda.io/automate-to-scale.

About BigPanda
BigPanda's mission is to change the way IT and DevOps teams manage and respond to the thousands of IT issues they face every day. BigPanda uses data science to automate the manual and time-consuming processes involved with IT Incident Management to meet the scale and fragmentation of modern data centers. BigPanda's team has decades of deep experience in data science and data center infrastructure management. Founded in 2012, the company is backed by Sequoia Capital and Mayfield and headquartered in Mountain View, CA with offices in Tel Aviv. For more information, visit: http://www.bigpanda.io or follow BigPanda on Twitter @bigpanda.

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