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ScienceLogic Raises $105 Million in New Financing to Accelerate Leadership in Growing AIOps Market
Latest funding round to capitalize on enterprise adoption of hybrid-cloud management solutions, elevating customer experience and operational agility
Reston, Virginia, Feb 23, 2021 — ScienceLogic, a leading 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.
Companies across the globe are adopting cloud strategies and tools more than ever amid the COVID-19 pandemic, with massive demand for digital services and scalability. We believe ScienceLogic is poised to meet that demand as organizations look for hybrid-cloud toolsets from trusted partners to securely harness business agility, cost savings and innovation.
“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”.
Some of the largest global enterprises, federal agencies and managed service providers trust ScienceLogic’s modern platform to ensure availability of their applications and business operations across 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.
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ScienceLogic is a leader in IT Operations Management, providing modern IT operations with actionable insights to predict and resolve problems faster in a digital, ephemeral world. Its IT infrastructure monitoring and AIOps solution sees everything across multi-cloud and distributed architectures, contextualizes data through relationship mapping, and acts on this insight through integration and automation. Trusted by thousands of organizations across the globe, ScienceLogic’s technology is designed for the rigorous security requirements of the United States Department of Defense, proven for scale by the world’s largest service providers, and optimized for the needs of large enterprises. https://sciencelogic.com
About Silver Lake Waterman
Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with approximately $75 billion in combined assets under management and committed capital and a team of professionals located based in North America, Europe and Asia. Silver Lake Waterman focuses on providing flexible expansion capital to later-stage growth companies in the technology and technology-enabled industries. For more information about Silver Lake Waterman and Silver Lake, please visit www.silverlake.com