OverOps Raises $30M Series C Funding
April 26, 2017
Share this

OverOps has closed its Series C round of financing and raised $30M, which will be used to scale the company’s efforts in the enterprise IT operations market.

The financing is led by Lightspeed Venture Partners, who also led the previous OverOps funding round in 2016, with participation from Menlo Ventures, another existing investor. This raises OverOps’ venture funding to date to $52M. For Lightspeed, this marks a significant investment in the Application Reliability ecosystem following the $3.7B acquisition of its portfolio company AppDynamics by Cisco in January.

OverOps (formerly known as Takipi) transforms application logs into real-time intelligence that enables modern development and operations teams to solve critical production issues in minutes vs. days or weeks. Today, most companies rely on searching through endless log files trying to identify the root cause of production errors. OverOps enriches log files with an intelligence layer, so for every error, developers and devops engineers gain rich information on what led to that error, including the stack trace, source code and variable values, as well as debug level log lines, regardless of what the log level was set to in production.

This allows OverOps’ 250+ enterprise customers to increase staff efficiency by 90%, reduce operational expenses, and ship code faster, allowing teams to “fail forward” and fix issues on-the-go. OverOps currently employs 60 employees in its San Francisco and Tel Aviv offices.

OverOps provides:

- On-premises and hybrid hosting capability for critical applications

- Platform support for microservices and containers

- Real-time proactive alerting notifications for IT teams, including Slack, HipChat, PagerDuty and JIRA integrations

OverOps CEO Tal Weiss said: “While the way we monitor and deploy applications improved dramatically over the years, with the move to microservices, containers and continuous deployment, fixing production issues still heavily relies on log files, a 20 year-old technology that hasn’t changed since it was created. Our goal is to enable teams to focus on building products and features rather than fixing broken applications.” Weiss added that the funding will be used to expand the company’s enterprise offerings to include .NET CLR support, further increasing OverOps enterprise reach.

Arif Janmohamed, Partner at Lightspeed Venture Partners, said: “The company’s strong technology and team are a winning combination that has led the company to reach and surpass significant milestones. OverOps has shown incredible growth this past year, and we wanted to double down on our commitment.”

Venky Ganesan, Managing Director at Menlo Ventures, said, “We’re proud of the work Tal and team have done, and we are looking forward to accelerating the growth of OverOps and disrupting the broken ecosystem of application reliability.”

Share this

The Latest

June 26, 2017

Many organizations are struggling to resolve customer-impacting incidents quickly enough to preserve brand loyalty and revenue, according to PagerDuty's recent State of Digital Operations Report ...

June 23, 2017

"Become the Automator, Not the Automated." While it's a simple enough phrase, it speaks directly to how today's organizations and IT teams must innovate to remain competitive. A critical aspect of innovation is acknowledging the digital transformation of businesses. The move to digitalization enables organizations to more effectively unlock the power of information technology (IT) to fuel and accelerate business innovation. It is a competitive weapon and a survival imperative ...

June 22, 2017

Executives in the US and Europe now place broad trust in Artificial Intelligence (AI) and machine learning systems, designed to protect organizations from more dynamic pernicious cyber threats, according to Radware's 2017 Executive Application & Network Security Survey ....

June 21, 2017

While IT service management (ITSM) has too often been viewed by the industry as an area of reactive management with fading process efficiencies and legacy concerns, a new study by Enterprise Management Associates (EMA) reveals that, in many organizations, ITSM is becoming a hub of innovation ...

June 20, 2017

Cloud is quickly becoming the new normal. The challenge for organizations is that increased cloud usage means increased complexity, often leading to a kind of infrastructure "blind spot." So how do companies break the blind spot and get back on track? ...

June 19, 2017

Hybrid IT is becoming a standard enterprise model, but there’s no single playbook to get there, according to a new report by Dimension Data entitled The Success Factors for Managing Hybrid IT ...

June 16, 2017

Any mobile app developer will tell you that one of the greatest challenges in monetizing their apps through video ads isn't finding the right demand or knowing when to run the videos; it's figuring out how to present video ads without slowing down their apps ...

June 15, 2017

40 percent of UK retail websites experience downtime during seasonal peaks, according to a recent study by Cogeco Peer 1 ...

June 14, 2017

Predictive analytics is a popular ITOA technology that you can leverage to improve your business by leaps and bounds. Predictive analytics analyzes relationships among various data points to predict behavioral trends, growth opportunities and risks, which can add critical value to your business. Here are a few questions to help you decide if predictive analytics is right for your business ...

June 13, 2017

Many organizations are at a tipping point, as new technology demands are set to outstrip the skills supply, according to a new Global Digital Transformation Skills Study by Brocade ...