Funding to Accelerate ScienceLogic's Market Leading Presence in Growing Hybrid Cloud Management Market
RESTON, VA -- (Marketwired)-- IT monitoring software provider ScienceLogic, today announced a $43 million Series D venture capital round led by Goldman Sachs with current investors, NEA and Intel Capital also participating. The investment will be used to accelerate sales, marketing, product development, and international market opportunities.
"We are very excited to partner with ScienceLogic, which is disrupting the multibillion dollar IT management market with products uniquely suited to meeting Hybrid IT monitoring demand," said David Campbell, Managing Director -- Merchant Banking Division, Goldman Sachs. "We were attracted by the transformative market opportunity, the unique differentiation of the ScienceLogic Hybrid IT monitoring software, and the consistent results of a disciplined management team."
ScienceLogic is experiencing massive growth as enterprises and governments move in large numbers to take advantage of the cost savings and efficiency gained from Hybrid IT -- or the ability to burst to the public cloud to meet fluctuating computing and business requirements. ScienceLogic is the only IT monitoring provider to have architected its products specifically to meet Hybrid IT monitoring requirements, across multi-clouds environments. The company recently reported year over year subscription GAAP revenue growth of 135 percent and year-over-year subscription customer acquisition of 125 percent.
"We are thrilled to partner with Goldman Sachs as we maximize our market opportunity to rapidly ramp our business growth and deliver even stronger value to our global customer base," said Dave Link, CEO ScienceLogic. "The investment caps a highly successful 2014 for ScienceLogic, which saw a huge demand for our Hybrid IT monitoring platform and a huge growth in our enterprise customer base."
Nearly 80 percent of global enterprises are now leveraging public clouds such as Amazon Web Services (AWS) to establish hybrid IT environments and 70 percent of those companies are planning to dramatically increase spending in the public cloud over the next year, based on the current benefits gained(1).
However, while adoption is increasing and investment booming, most enterprises are unable to monitor and control the accompanying sprawl -- lack hybrid IT management skills -- and do not have proper visibility into their clouds; this results in significant infrastructure availability and performance risk.
ScienceLogic automatically discovers the entire on and off-premise infrastructure, visually mapping the cross-technology and cross-cloud dependencies, and instantly applying the right monitoring policies. By doing so, this provides a complete end-to-end visibility and understanding into the health and availability of legacy systems and public cloud infrastructure. Troubleshooting and identify the root cause of issues then become simple, and a task that can be completed in minutes, guaranteeing business services continuity and uptime.
Kellogg Company, a Fortune 500, multinational food manufacturing company headquartered in Michigan, chose ScienceLogic to view and manage their entire infrastructure both on-premises in their datacenters and off-premises in the public cloud, from a single view. They saw this unique capability as key to accelerate off-premises cloud adoption.
"At Kellogg, we are always looking to improve our IT operational efficiency. A big part of that is our all-in strategy on Hybrid Cloud with a particular emphasis on exploiting AWS for efficiency and agility," said Stover Mcllwain, Senior Director IT Infrastructure Engineering. "With ScienceLogic, we are able to give Kellogg executives the IT visibility they need, while dramatically reducing overall support and capital costs by over $2 million over five years compared to our previous ITOM suite."
ScienceLogic delivers the next generation IT monitoring platform for the network of everything. Over 20,000 global Service Providers, enterprises, and government organizations rely on ScienceLogic every day to significantly enhance their IT operations. With complete Hybrid IT monitoring, total Amazon Web Services (AWS) visibility, and over 1,000 dynamic management Apps included in the platform, our customers are able to intelligently maximize efficiency, optimize operations, and ensure business continuity. We deliver the scale, security, automation, and resiliency necessary to simplify the ever-expanding task of managing IT resources, services, and applications that are in constant motion.