Moogsoft, a San Francisco, CA-based provider of artificial intelligence for IT operations (AIOps), raised $40m in Series D funding.
The round – which brings Moogsoft’s total funding to $90m – was led by Goldman Sachs Growth Equity, with participation from existing investors including HCL, Northgate Capital, Redpoint Ventures, Singtel Innov8, STTelemedia and Wing VC. In conjunction with the funding, Jason Kreuziger, a Vice President in Goldman Sachs’ Merchant Banking Division, will join the Moogsoft board of directors.
The company intends to use the funds to scale sales and marketing as well as R&D investment for new product development and continued innovation in their core AIOps platform.
Led by CEO Phil Tee, Moogsoft provides AIOps solutions for IT teams to become faster through the application of patented AI. In addition to closing its fourth round of funding, the company has also recently released over 15 updates to their AIOps platform, bringing to market innovative new features such as Real-Time Service Dashboards, Collaborative Team-Based Workflows, Algorithmic Clustering Engine, Probable Root Cause Analysis, and a Mobile version. To date, Moogsoft has been awarded six patents and have filed for over 40 additional patent applications for their inventions.