BigPanda Secures $190M in Funding at $1.2 Billion Valuation


BigPanda, Inc., a San Francisco, CA-based leader in AIOps Event Correlation and Automation, raised $190m in funding round.

The round was led by Advent International, through its dedicated technology fund, and New York-based global venture capital and private equity firm Insight Partners, with participation by other existing investors. Eric Noeth, partner at Advent, will join BigPanda’s board of directors, and Sanjay Poonen, formerly President of SAP and COO of VMware, will join as a strategic advisor.

The company intends to use the funds to:

  • continue to innovate on its AIOps capabilities, by increasing the size of its machine learning, product, and R&D teams, as well as making strategic acquisitions, and
  • scale its go-to-market activities, by building out its sales, marketing, customer success and partnership teams.

Led by Assaf Resnick, co-founder and CEO, BigPanda provides an AIOps Event Correlation and Automation platform that enables IT Operations teams to automate incident management and keep their digital businesses running smoothly. With BigPanda, businesses automate incident management, prevent IT outages, increase the velocity of their digital business and deliver improved customer experiences.

Users include Fortune 500 enterprises such as Intel, Cisco, United, Abbott, Marriott and Expedia, among others.