Appnomic announced a $22M round led by Avataar Ventures, as well as the appointment of high-tech veteran, Nitin Kumar, to the CEO post.
The company is pioneering AI-enabled self-healing technology, which is a game-changer for IT operations. The technology-enabled industry sectors lose $1.7 T every year globally due to downtime and information loss. While companies employ a myriad of tools to detect problems early, they still fight a losing battle as they address the issues only after incidents occur and start damaging the business.
AI is changing all of this by predicting problems before they occur, preventing them from surfacing by resolving causes automatically. The software solution offered by Appnomic enables 40+ customers who could prevent more than 250,000 severe incidents a year. This amounts to 850,000+ man-hours savings, and more than $40,000,000 in costs, excluding the impact on the customers’ brand and external relationships.
This new technology category has motivated Avataar Ventures to lead the latest round, investing $22M in Appnomic.
“Appnomic offers the industry’s first Autonomous IT Operations Software. Avataar is excited about this investment and new team,” said Mohan Kumar, Managing Partner at Avataar Ventures. “These funds will allow Appnomic to expand its global presence and market reach to enable autonomous business operations, which will save companies a tremendous amount of time and money.”
“Appnomic is years ahead of traditional monitoring, APM, AIOps and Cognitive Operations players because true AI and ML were put into use a long time ago,” explained Nitin Kumar, CEO, Appnomic. “Businesses are looking for providing better customer experiences, less downtime, and cost savings. Organizations integrating self-healing systems have a competitive advantage over those that do not. Appnomic has multiple patents in the self-healing domain and continues to innovate in this arena. The new team and I have great plans to scale this business in 2020.”
The Latest
Broad proliferation of cloud infrastructure combined with continued support for remote workers is driving increased complexity and visibility challenges for network operations teams, according to new research conducted by Dimensional Research and sponsored by Broadcom ...
New research from ServiceNow and ThoughtLab reveals that less than 30% of banks feel their transformation efforts are meeting evolving customer digital needs. Additionally, 52% say they must revamp their strategy to counter competition from outside the sector. Adapting to these challenges isn't just about staying competitive — it's about staying in business ...
Leaders in the financial services sector are bullish on AI, with 95% of business and IT decision makers saying that AI is a top C-Suite priority, and 96% of respondents believing it provides their business a competitive advantage, according to Riverbed's Global AI and Digital Experience Survey ...
SLOs have long been a staple for DevOps teams to monitor the health of their applications and infrastructure ... Now, as digital trends have shifted, more and more teams are looking to adapt this model for the mobile environment. This, however, is not without its challenges ...
Modernizing IT infrastructure has become essential for organizations striving to remain competitive. This modernization extends beyond merely upgrading hardware or software; it involves strategically leveraging new technologies like AI and cloud computing to enhance operational efficiency, increase data accessibility, and improve the end-user experience ...
AI sure grew fast in popularity, but are AI apps any good? ... If companies are going to keep integrating AI applications into their tech stack at the rate they are, then they need to be aware of AI's limitations. More importantly, they need to evolve their testing regiment ...
If you were lucky, you found out about the massive CrowdStrike/Microsoft outage last July by reading about it over coffee. Those less fortunate were awoken hours earlier by frantic calls from work ... Whether you were directly affected or not, there's an important lesson: all organizations should be conducting in-depth reviews of testing and change management ...
In MEAN TIME TO INSIGHT Episode 11, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses Secure Access Service Edge (SASE) ...
On average, only 48% of digital initiatives enterprise-wide meet or exceed their business outcome targets according to Gartner's annual global survey of CIOs and technology executives ...
Artificial intelligence (AI) is rapidly reshaping industries around the world. From optimizing business processes to unlocking new levels of innovation, AI is a critical driver of success for modern enterprises. As a result, business leaders — from DevOps engineers to CTOs — are under pressure to incorporate AI into their workflows to stay competitive. But the question isn't whether AI should be adopted — it's how ...
