Utrecht, The Netherlands—StackState today announced it had raised an additional $5 million in funding from Capri Ventures and Xebia Investment Holding, bringing its primary capital total to $18 million. The company pioneered the world's leading monitoring and AIOps platform for hybrid IT and will use the funding to accelerate product development and establish a US presence.
"StackState is at the tipping point of a global market breakthrough,” said Daan Teunissen StackState CEO. “The funding from Capri Ventures and Xebia Investment Holding will allow us to invest even more in our industry-leading product while also extending our go-to-market reach to more organizations around the world.”
"StackState is a highly scalable AIOps platform, delivering superior responsiveness to market and end-user demand,” said Alex Pinchev, the managing partner of Capri Ventures and former Red Hat president of global sales, services and field marketing. “We look forward to contributing to the company's global success and working with its highly experienced team and CEO.”
“Enterprises are struggling to keep up with the ever-increasing complexity of IT and are heavily investing in intelligent automation tools to drive productivity and business transformation,” explained Teunissen. “We are proud to have Alex Pinchev as a board member to further guide our rapid global expansion,” he said.
According to Gartner, 57% of enterprises have more than ten monitoring tools in place, yet most fail to provide the holistic insight necessary when IT-related incidents threaten or strike. Finding the right data to make fast business decisions is imperative. Without proper monitoring, organizations lose billions of dollars and potential customers.
StackState’s pioneering 4T Data Model® for AIOps is the solution to this problem. The 4T Data Model® is the core of StackState's monitoring and AIOps platform and the main driver for all real-time monitoring, automation, and predictive capabilities. It combines big data, Artificial Intelligence, and topology visualization to instantly pinpoint the root cause of (predicted) incidents and improve business alignment. The platform helps organizations make better decisions faster and avoid high severity outages while utilizing their current IT investments.
StackState's annual revenues have increased over 300% since 2018. It's growing customer list encompasses a range of industries—from finance, telecom, to managed service providers—and includes global enterprises like IBM Global Services, KPN Telecom, and ABN AMRO Bank as well as local innovators, such as NS International and Schuberg Philis.