Moogsoft announced $40 million in Series D funding led by Goldman Sachs Growth Equity, with participation from existing investors including HCL, Northgate Capital, Redpoint Ventures, Singtel Innov8, STTelemedia and Wing VC.
This round brings Moogsoft’s total funding to $90 million. Funds will be used to scale sales and marketing to meet global demand as well as R&D investment for new product development and continued innovation in their core AIOps platform.
“We are enormously excited to welcome Goldman Sachs Growth Equity as a partner as we dive headlong into the future of IT operations and service assurance,” said Phil Tee, chairman, CEO and co-founder of Moogsoft. “Moogsoft’s purpose-built AIOps platform is in production in the world’s most complex IT environments and is fundamentally transforming the way enterprise operations teams work. We have the intention to be the primary supplier of service assurance software for the new digital economy. With new products, additional capability in AIOps, and with significant investments in sales and marketing, Moogsoft is set to lead the next phase of the digital revolution.”
“We have followed the Moogsoft story closely over the past several years, and have been consistently impressed with their thoughtfulness around product development and ability to deliver such a compelling value proposition to customers managing some of the most complex IT operations in the world. By leveraging intelligent algorithms to deliver true machine learning, Moogsoft’s platform addresses the human scalability challenges of using legacy rules-based monitoring technology in increasingly distributed and complicated IT environments,“ said Jason Kreuziger, a VP in Goldman Sachs’ Merchant Banking Division, who will join the Moogsoft board of directors in connection with the investment. “We are excited to partner with a world-class management team that has deep domain expertise and a track-record of success in this market, and look forward to working with them to help further scale Moogsoft going forward.”
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