Technology has increasingly become horizontal, and digital innovation now helps define and enable success across every sector. The wave of digitization was certainly occurring prior to COVID-19, but the global pandemic made it almost impossible to do business without a strong digital presence and really catalyzed adoption.
This is an exciting space for our team. We recently raised our second dedicated technology fund to allow us to see what the next wave of disruptors looks like and help them contribute to the global digital ecosystem. We invest in businesses we think can be category leaders and multigenerational breakout platforms. BigPanda captured our attention because it has the right makings of a disruptor in the hot AIOps market. The BigPanda platform itself is a critical tool for IT operations teams in managing their infrastructures in an impossibly complicated world.
Sustaining the digital lifeline
BigPanda solves two problems: helping organizations handle their infrastructure in a digital ecosystem that’s becoming exponentially more complex and filling the scarcity-of-talent gap in the IT world.
Modern IT environments require speed and agility as well. IT operations must ensure availability of services but also support autonomy and innovation as organizations embrace DevOps, modernize applications and shift to hybrid and cloud-native architectures. There are more data feeds than ever before flowing into businesses – and a higher volume of alerts hitting IT teams on a daily, hourly and per-second basis. The need to centralize that data and then automatically remediate, prioritize, and isolate root causes of issues has only grown in significance.
The rapid pace of digital innovation and growing complexity has created IT infrastructures that cannot be managed by humans alone.
This rapid pace of digital innovation and growing complexity has created IT infrastructures that cannot be managed by humans alone. Combine that with the lack of IT talent available in the market and you have a problem that will only grow more difficult as volumes of data continue to explode.
Enter AI and automation. These challenges create a massive, growing need for AI to automatically remediate and manage these environments, beyond the limits of human scalability. And that’s where BigPanda is leading the pack.
Defining AIOps and delivering ROI
From a market opportunity standpoint, BigPanda stands ready to continue defining a sector in which it is already a leader. That leadership, combined with a market that has a rapidly growing need for just the solution BigPanda delivers, has resulted in remarkable momentum with new ARR growing 155% last year and record numbers of new customers joining the BigPanda community.
BigPanda is a lifeline to companies operating in an increasingly digital world, and its platform is industry-agnostic, enabling it to support the digitization efforts of any business today. Customers report tangible ROI – detailing exactly how much uptime BigPanda has delivered and what distinct outcomes benefitted the customer as a result. As a central piece to an organization’s software stack, the company has proven its ability to reduce both IT operations costs and mean time to respond to an issue by more than 50% in many cases. It’s no surprise that BigPanda is able to go head-to-head with industry behemoths and win by proving its value to customers.
As a central piece to an organization’s software stack, BigPanda has proven its ability to reduce both IT operations costs and mean time to respond to an issue by more than 50% in many cases.
With such a strong position in the market, you’d think the company and leadership would be overconfident, but BigPanda’s culture is anything but egotistical. Assaf Resnick, CEO and co-founder, leads with humility and thoughtfulness. He engages with customers on a personal level, empowers his employees, and infuses true passion for the BigPanda way. As a result, the team is gracious, supportive and optimistic. They are focused on increasing their lead – a necessary ingredient for breakout scale and success.
Working together to improve IT ecosystems
BigPanda’s customers feel this culture and passion. There’s no better way to prove the value of a tool than by hearing what customers have to say about it. BigPanda’s customers represent the most storied brands from across the world, from every industry. Customers have shared with me how much better their entire IT ecosystem works after implementing BigPanda and how the tool has simplified their lives. BigPanda has created a community for IT operations leaders that cultivates a sense of “we’re in this together” – a kind of camaraderie that can’t be bought in an industry rife with deep stress, high-stakes work, and daily anxiety.
As BigPanda looks to the future, despite its current success and leadership, it remains laser-focused on continuing to innovate, define AIOps’ evolution, and delight customers. Advent’s participation in the company’s $190 million financing round will enable BigPanda to accelerate its investment in innovation, deliver more capabilities, and explore strategic acquisitions. With this funding, BigPanda is poised to continue innovating around its Open Box Machine Learning and Open Integration Hub, and how to build on these with predictive and remediation capabilities that accelerate incident management processes.
We could not be more excited to partner with BigPanda – the leader in the AIOps space – and to see what comes from this powerful solution that supports increasingly critical digital innovation.
