ScienceLogic, a provider of AI-driven monitoring solutions for hybrid cloud management, announced today that it has raised $105 million in growth financing. Silver Lake Waterman led the company’s Series E round with participation from existing investors Goldman Sachs, Intel Capital and NewView Capital. The investment will support the company’s continued innovation in the AIOps market and further broaden ScienceLogic’s position within the $30+ billion IT Operations Management software market.
“More than ever, IT Operations Management has taken root as a front-office priority supporting mission-critical digital experiences that define the way we live, work and play. As large enterprises shift workloads to the cloud while managing on-prem resources, new tools are paramount to deliver service visibility and faster incident resolutions made better by advanced AI/ML technologies,” said Dave Link, founder & CEO of ScienceLogic. “What we’re witnessing is a major investment cycle away from legacy monitoring tools and toward AIOps platforms.”
The funding is intended to accelerate ScienceLogic’s product development and engineering leadership, supporting the company’s broader expansion plans and the reach of its flagship SL1 digital infrastructure monitoring platform. Funds are expected to be allocated toward recruitment efforts and product investments aimed at cloud-native technologies including microservices and container solutions, AI/machine learning, and hybrid cloud operations that transforms digital experiences and enhance security.
“The ScienceLogic team has built a leading platform to monitor mission-critical infrastructure and applications and is at the center of some of the largest, most complex IT environments at the forefront of digital transformation,” said Shawn O’Neill, managing director and group head of Silver Lake Waterman. “Dave Link and the leadership team have a long track record of building value and trust with customers and we look forward to partnering with the team and helping drive further adoption”.
ScienceLogic’s modern platform is utilized by large global enterprises, federal agencies and managed service providers to ensure the availability of their applications and business operations across the hybrid-cloud and multi-cloud deployments. The scalable SL1 monitoring platform helps IT operations teams ingest hyperscale data volume in real-time across disparate hybrid-cloud architectures, while its patented discovery and automation technology improves agility, accelerates incident response and drives productivity by strengthening application health, resolution time and user experience.
The funding news comes after a recent announcement from the company to expand its product development, engineering and sales and marketing staff. ScienceLogic’s AIOps market leadership also was recently highlighted by the Forrester Wave, which included ScienceLogic as one of only three firms highlighted as AIOps Leaders – honors that further cement the company’s forward momentum.
For more information, visit sciencelogic.com