OpsGenie has signed a definitive agreement to be acquired by Atlassian for $295 million.
“Trends like DevOps, microservices and agile software development have profoundly changed how companies build and run their IT operations today — and makes monitoring those critical operations even more complex,” said Neeraj Agrawal, a Battery general partner and OpsGenie board member. “In light of these trends, incident-management companies like OpsGenie are now sought after by strategic acquirers. Battery is proud to have backed OpsGenie and believes there is even more room for innovation in this sector.”
“We see great synergies between Atlassian and OpsGenie,” said Berkay Mollamustafaoğlu, OpsGenie’s co-founder and CEO. “We share Atlassian’s vision of empowering teams through open work and collaboration and believe that together we can revolutionize the manner in which IT incidents are addressed throughout the entire response lifecycle.”
OpsGenie, which is based in Boston, provides a platform that helps organizations manage the flood of increasingly critical IT alerts that are now commonplace when operating “always-on” IT services. OpsGenie centralizes alerts, notifies the right people reliably and enables them to collaborate and take rapid action.
Software is also being developed more quickly today, which creates more opportunities for mishaps — and a need to alert the right people, in a timely manner, to fix software problems, noted Mollamustafaoğlu. OpsGenie’s technology — currently used by more than 3,000 companies — integrates with other key monitoring and ticketing tools and serves as a central repository for alert data.
“The Battery team has been a true growth partner to OpsGenie,” said Mollamustafaoğlu. “Battery’s assistance with recruiting top executives — in addition to helping us with other strategic and tactical matters—has been extremely valuable.” Battery, a global, technology-focused investment firm, in 2016 led OpsGenie’s Series A investment — the company’s only institutional round — and is the company’s majority shareholder.
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients.
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