InsightFinder experiences significant growth in 2020 as market for IT Operations automation expands
Company announces new customers, patents, product enhancements, and funding plus expands leadership team
Dec 30, 2020, 13:04 ET
RALEIGH, N.C., Dec. 30, 2020 /PRNewswire/ -- "Before InsightFinder, we had a team of DevOps engineers manually reviewing metrics and logs. Now, we've automated the whole process. InsightFinder finds anomalies, predicts when incidents will occur, and takes action to fix problems before users are impacted. We evaluated every AI platform. Nothing comes close to InsightFinder!" -CTO, SaaS remote learning platform
2020 has created new challenges for IT operations. In addition to supporting existing applications, work from home and shifts to online services have increased demand for IT support. Downtime now means customers migrate to competitors and employee productivity goes to zero.
In 2020, InsightFinder led the transition to AI-first systems of intelligence and helped customers around the world migrate from traditional manual processes.
Legacy approaches to managing infrastructure and applications relied on manually monitoring events, metrics, and logs for unusual activity. That worked when the volume of data was low, system architectures were less complex, and quality of digital assets mattered less.
Recently, that all changed.
Every company relies on infrastructure and applications to make employees successful, keep current customers engaged, and build brand loyalty. Forward thinking CIOs and CTOs now realize the use of AI to automate anomaly detection is an essential part of guaranteeing service availability.
Customers
The company today announced new customers including Dell, Credit Suisse, and China Mobile. These organizations have standardized on its AI platform for IT operations to reduce cost and resources required to manage complex systems. They use InsightFinder to convert terabytes of machine data into actionable insights and automated remediation to reduce downtime.
Dell uses InsightFinder to support its largest managed services customers. Credit Suisse replaced legacy monitoring tools and rules-based anomaly detection. InsightFinder's AI technology helps them automatically identify anomaly patterns, predict future incidents, and determine the root cause of issues.
Technology
InsightFinder continues to innovate, building on 15 years of academic research and a patent portfolio consisting of the key intellectual property required to automate IT Operations. The company was recently awarded a patent for auto-diagnosis and auto-remediation of incidents.
New technology breakthroughs have led to industry-first unsupervised machine learning benchmarks including real time anomaly detection over more than 100,000 concurrent metric streams without GPUs using commodity hardware with eight core CPUs and 32 GB memory. Plus, the company has achieved fully automated incident prediction with accuracy rates above 90% and average lead time of about five hours.
Funding
To help serve new customers and accommodate growing market demand for its products, InsightFinder added to its previous funding from last December with new investments from Eight Roads, IDEA Fund Partners, Acadia Woods, and the Venture Capital Multiplier Fund. The new funding will be used to add key hires to the engineering, sales, customer success, and marketing teams.
Team
Dr. Helen Gu, the company's founder, is now CTO and is focused on technology Innovation and development, platform scalability, and commercializing the company's patent portfolio. The company hired industry veteran Dan Turchin as CEO. Dan most recently founded Astound, an AI platform for employee service, and previously served in executive roles at ServiceNow, BigPanda, and AccelOps (now Fortinet) after having served as founder and CEO of Aeroprise (now BMC Software).
According to Dan, "As an industry, we've been aspiring to fully automate the lifecycle of operational incidents for more than a decade. InsightFinder is the only AI-first system of intelligence that delivers on the promise of near zero downtime for enterprises at a time when the need for secure, reliable infrastructure and applications is increasing daily. This team is exceptional. We have a unique opportunity to create enormous customer value and own the $30 billion service automation market."
For more information about InsightFinder or to schedule a briefing, contact Erin McMahon. To discover the power of InsightFinder, register for a free trial.
About InsightFinder
InsightFinder is the industry's first system of intelligence for IT operations that predicts incidents hours before they occur. The company's patented anomaly detection algorithms use unsupervised machine learning to automatically ingest streamed metrics, logs, traces, and change events in real time. This unique approach leads to early detection of issues, more accurate diagnoses, and the ability to remediate issues before users are impacted.
InsightFinder for AIOps and DevOps is the result of more than 15 years of research and development and has been evaluated and licensed by leading tech companies such as Google. InsightFinder was recently awarded a highly competitive National Science Foundation Small Business Innovation Research (NSF SBIR) award (also known as "America's Seed Fund").
InsightFinder was then awarded two even more competitive grants: a NSF SBIR Phase II award ($750K) followed by a subsequent NSF SBIR Phase IIB award ($500K). The research behind InsightFinder's development was funded by over 4 million dollars in research grants from the National Science Foundation, Google, IBM, and Credit Suisse.
Join the team that is changing how modern applications are deployed and managed. If you're ready to test your limits and be part of the next great technology success story, we need you here!
CONTACT: Erin McMahon, [email protected]
SOURCE InsightFinder
