Anodot, a Redwood City, Calif.-based autonomous business monitoring company, raised $35m in Series C funding.
The round, which brought total funding raised to date to $62.5m, was led by Intel Capital with participation from SoftBank Ventures Asia, Samsung NEXT, and La Maison and existing investors Disruptive Technologies L.P., Aleph, and Redline Capital Management. In conjunction with the funding, Intel Capital’s Investment Director Roi Bar-Kat will join Anodot’s board of directors.
The company intends to use the funds to grow its go-to-market activities, including expanding into new verticals, such as banking and financial services, building ready-made business packages per use case, as well as increasing hiring across its global team.
Led by David Drai, CEO and co-founder, Anodot provides a Business Monitoring platform that uses machine learning to constantly analyze and correlate every business parameter, providing real-time anomaly alerts and forecasts. Fortune 500 companies, from digital business to telecom, use its patented technology to reduce time to detection and resolution for revenue-critical issues. Organizations including Atlassian, Xandr, T-Mobile, Bird, and others can monitor business metrics, including revenue and costs, partners, and customer experience. The platform, through granular monitoring and analytics capabilities, tracks more than 400 million metrics daily, driving four billion autonomous decisions.