Reston, Virginia-based provider of AI-driven monitoring solutions for hybrid cloud management, ScienceLogic is a startup that develops an AIOps and IT infrastructure monitoring platform. AIOps, short for AI for IT operations, is a category of products that enhance IT by leveraging AI to analyze data from tools and devices. Research and Markets anticipates it’ll be a $14.3 billion market by 2025.
Founded in 2003, ScienceLogic’s products have allowed customers to monitor applications and systems across their networks, including how they interact, helping to predict outages and issues and even to provide fixes in a more automated way.
For example, ScienceLogic can automatically extract, populate, and synchronize information with an asset management solution, whether that’s with its own tool or a third-party product such as ServiceNow. The company’s platform maps multi cloud infrastructure and identifies dependencies among IT elements. It can also note events in logs from apps and network performance management software, ultimately leading to deeper problem diagnosis.
It comes as no surprise that ScienceLogic is among the fastest-growing private software companies in the Washington area. ScienceLogic claims that some of the largest global enterprises, federal agencies, and managed service providers are among the thousands of customers who use its platform.
ScienceLogic expects more than $100 million in revenue in 2021. That follows a healthy boost in 2020, in which ScienceLogic was named an AIOps (artificial intelligence operations) leader by research firm Forrester in its Forrester Wave guide.
Now, ScienceLogic has raised $105 million in Series E financing. The round was led by Silver Lake Waterman with participation from existing investors Goldman Sachs, Intel Capital, and NewView Capital.
The company intends to use the funds for recruitment efforts and product investments aimed at cloud-native technologies including microservices and container solutions, AI/machine learning, and hybrid cloud operations.
“We have a huge market opportunity to invest and capture a market that is going through a tectonic shift,” said CEO and Founder David Link, who highlighted the coronavirus pandemic's work-from-home surge as a driver for IT systems management. “IT has more of a spotlight on it than ever. And they have to deliver great quality and they need better technology to help them run and operate these networks.”