Moogsoft Secures $40 Million in Series D Funding
Moogsoft, a leading provider of artificial intelligence for IT operations (AIOps), today 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.
According to the company, Moogsoft more than doubled revenue in 2017 and saw the onboarding of key customers from across the Global Fortune 500. In addition to closing its fourth round of funding, Moogsoft has also recently released more than 15 updates to its AIOps platform, bringing to market new features such as real-time service dashboards, collaborative team-based workflows, an algorithmic clustering engine, probable root cause analysis, and a mobile version. To date, Moogsoft has been awarded six patents and has filed for more than 40 additional patent applications for its inventions.
The new funding will be used to scale sales and marketing as well as for R&D investment for new product development and continued innovation.