Total amount raised
$312.5 Millions
Latest funding date
8/1/2022
Location
BigPanda has successfully raised multiple rounds of funding, culminating in a Series E round on August 17, 2022. The company is backed by prominent investors such as Sequoia Capital, Mayfield, and Battery Ventures.
BigPanda's platform leverages machine learning to automate incident management and unify IT operations, attracting notable customers like Intel and Workday. Keep reading to explore the intricacies of BigPanda's fundraising journey and the investors backing this innovative platform.
What Is BigPanda?
Founded in 2012, BigPanda is headquartered in Redwood City, California. The company was established by Assaf Resnick and Elik Eizenberg.
BigPanda specializes in AI-powered IT operations and incident management solutions. Their platform helps IT Ops, NOC, and DevOps teams detect, investigate, and resolve IT incidents efficiently.
With a workforce of 251-500 employees, BigPanda leverages machine learning to automate incident management and unify fragmented IT operations, serving notable clients like Intel and Workday.
How Much Funding Has BigPanda Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: January 2013
- Lead Investors: Sequoia Capital Israel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for AI-powered IT operations solutions.
- Series A
- Amount Raised: $7M
- Date: October 2014
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $16M
- Date: October 2015
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B (Extension)
- Amount Raised: $5M
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and product enhancements.
- Series B (Second Extension)
- Amount Raised: $23M
- Date: November 2017
- Lead Investors: Greenfield Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in sales and marketing.
- Series C
- Amount Raised: $50M
- Date: November 2019
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and product innovation.
- Series D
- Amount Raised: $190M
- Date: January 2022
- Lead Investors: Advent International, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance AI capabilities.
- Series E
- Amount Raised: $20M
- Date: August 2022
- Lead Investors: UBS, Wells Fargo Strategic Capital
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To support hiring and meet the growing demand for AIOps solutions.
Total Amount Raised: $312.5M. Current Valuation: $1.2 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in technology companies since 1972. It is known for backing some of the most successful tech companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Apple, Google, Oracle
- Mayfield
- Details: Mayfield is a venture capital firm that focuses on early-stage technology companies. It has been investing in innovative startups for over 50 years.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Lyft, SolarCity, Poshmark
- Battery Ventures
- Details: Battery Ventures is a global investment firm that focuses on technology sectors. It has been investing in cutting-edge companies since 1983.
- Investment Focus Areas: Software, IT infrastructure, industrial technology
- Notable Investments: Nutanix, Coupa, Glassdoor
- Wells Fargo Strategic Capital
- Details: Wells Fargo Strategic Capital is the venture capital arm of Wells Fargo. It invests in growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- UBS
- Details: UBS is a global financial services company that provides investment banking, asset management, and wealth management services. It has a strategic investment arm known as UBS Next.
- Investment Focus Areas: Financial services, technology, healthcare
- Notable Investments: Not publicly disclosed
What's Next for BigPanda?
BigPanda stands at the cusp of significant growth, driven by the increasing demand for AIOps solutions. The complexity of IT environments and the need for advanced monitoring tools present a vast opportunity. With Gartner predicting that 40% of companies will adopt AIOps by 2023, BigPanda is well-positioned to capitalize on this trend.
Future fundraising seems promising, given the company's strategic client base and market potential. However, challenges such as intense competition from both startups and established vendors, and the need for continuous innovation, could pose hurdles. Navigating these challenges will be crucial for BigPanda's sustained success.
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