InsightFinder Inc., a Raleigh, N.C.-based intelligent AIOps platform provider, closed $2m in pre-series A financing.
The round was led by Idea Fund Partners with participation from existing venture investors Eight Roads Ventures and Acadia Woods Partners.
The company plans to use the funds to take its product offering to general availability, as it was previously in limited availability for qualified customers.
Led by Helen Gu, founder, InsightFinder provides innovative unsupervised machine learning technology to predict potential incidents and prevent service outages. With visibility across an entire IT system, the solution allows IT leaders to pinpoint root causes, predict incidents, and prevent costly outages. The platform also accurately diagnoses the root cause of each system issue, and provides automated self-healing capabilities to minimize the impact of service outages.
In conjunction with the financing, the company is announcing two key hires to join its executive team. Rami Essaid, founder and former CEO of Distil Networks joins InsightFinder to lead the company operations going forward. Greg Lissy, a software executive with previous industry experience at Citrix, SolarWinds, Red Hat, and Microsoft, has also joined the company to lead product strategy and execution.
InsightFinder received a Small Business Innovation Research (SBIR) grant in 2015 from the National Science Foundation. In 2017, it was awarded a highly-competitive Phase II SBIR grant from the same institution.