I’m happy to share with the Moogsoft community that we’ve closed aSeries B round of funding that will help propel our product development and global reach to the next level.
Truth be told – we weren’t actively looking for new funding. While several VCs approached us with funding offers, none really resonated with our goals. Then we met with Wing Venture Capital and we couldn’t refuse. You might say we are very happy to be taken “under their wing.”
This new round was led by Wing, which was founded by Peter Wagner and Gaurav Garg, two luminary investors in the field of enterprise IT technology. Together, they have backed more than 16 companies to IPO, with billions of resulting valuation. Adding to the excitement, Peter will be joining our board and lending invaluable expertise on building enterprise software companies.
IT organizations are at a breaking point. The complexities and pace of change driven by mobile, data, and cloud are dramatic. According to Forrester, more than 70% of the time, end users (and customers) are finding and reporting service disrupting before the IT operations groups can detect them. It’s not a surprise. The very architecture of legacy operational management systems were designed for static, homogeneous environments…virtually the opposite of what’s going on in web-scale environments.
Incident.MOOG breaks down the barriers within IT Operations Management and IT Service Management teams to streamline workflows and speed mean-time-to-repair (MTTR). And it does this dynamically – without preset rules or models.
Peter articulates it well:
“Once in a while, a company invents a radically new approach to an increasingly strategic problem and disrupts an industry. Moogsoft is one of those companies,” said Peter Wagner, founding partner of Wing Venture Capital. “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.”
We’re ready to take on the status quo in IT and create a new age of collaborative situational awareness that will support the world’s next leading enterprises and their data-driven IT operations. Join us!