The environment of today's workforce has changed dramatically compared to less than a decade ago. The integration of mobile and cloud technology by organizations has made it possible for employees to work remotely and collaborate with colleagues anytime/anywhere. This requires service providers that are able to deliver collaborative solutions that have web-scale IT operations with continuous availability. Moogsoft, provider of collaborative situation management, offers a platform for ensuring the availability of continuous delivery of application and infrastructure for enterprises. In order to continue its growth, the company has raised $11.3 million in Series B funding from new and existing investors.
This round of funding was led by new investor, Wing Venture Capital, and existing backers, which brings the total raised by Moogsoft to almost $18 million. The company has experienced rapid growth since it began customer delivery of its services in February of 2012, and the new investment will be used to expand its geographical footprint and introduce more innovation.
The continuous delivery applications and infrastructure platform the company offers is provided through its flagship product: Incident.MOOG. It creates collaborative situational awareness among IT Operations Management (ITOM) and IT Service Management (ITSM) teams for Web-scale service providers and enterprises. By detecting incidents as they happen, it is able to create contextualized situations and orchestrate fast restoration of business services.
The MOOG platform simplifies the process of quickly identifying any incidents that can be responsible for having a negative impact on the IT infrastructure of an organization. It requires no rules, no business logic or models and no learned patterns to administer and maintain. The time it takes to identify and diagnose incidents as well as the mean time to resolve the incident is lowered. This reduces the negative impact on end users, saving businesses a considerable amount of money due to system failures.
"Its collaborative machine learning technology is already driving new efficiencies in the delivery of continuous availability to web-scale environments. With its innovation leadership, deep industry experience, and rapid execution effectiveness, Moogsoft has the opportunity to lead the industry's shift to data-driven IT operations," said Peter Wagner, founding partner of Wing Venture Capital.