Anodot Launches $35M in Series C Round of Financing
Anodot intends to use the proceeds of the round to aid its go-to-market activities, including expanding into new business areas, such as banking and financial services, and creating ready-made business packages per use case, as well as increasing hiring across its global team
Fremont, CA: Anodot, a Redwood City, Calif.-based autonomous business monitoring company, has raised $35 million in Series C round of financing. The new round of funding brings the firm's total raised capital to $62.5 million. Intel Capital led the financing along with participation from Samsung NEXT, SoftBank Ventures Asia, and La Maison. Existing investors, including Disruptive Technologies L.P., Aleph, and Redline Capital Management, have also marked their auspicious presence.
Anodot intends to use the proceeds of the round to support its go-to-market activities, including expanding into new business areas, such as banking and financial services, and creating ready-made business packages per use case, as well as increasing hiring across its global team. Investment Director Roi Bar-Kat led the investment for Intel Capital and will join Anodot's board of directors, as part of the deal.
"We strongly believe Anodot, with its machine learning-based monitoring solution, is in the position to help organizations save and optimize business costs. Intel Capital has been following Anodot closely, and we are excited to see the continued progress of its platform," said Anthony Lin, vice president and senior managing director of Intel Capital. "Changing market dynamics are going to force companies to become more efficient, and Anodot's proven ROI model and impressive traction across its enterprise customer base is a game-changer."
"Today's organizations are facing unprecedented market uncertainty, and many are struggling to achieve visibility into business incidents that cost money, impact third-party tools and platforms, and diminish customer experience," said David Drai, CEO and co-founder of Anodot. "Anodot takes a new approach to business monitoring. By focusing on autonomous monitoring at a granular level, we're able to deliver the right results in real-time to help organizations take immediate action, avoid losses and stay on top of business success, especially in times of economic turbulence. We look forward to leveraging this new capital, and the experience of our investors, to further advance our platform, to expand our team, and to better help organizations effectively identify and address business incidents." Anodot's technology is also valuable beyond business use cases. With the COVID-19 outbreak, Anodot is leveraging its powerful platform to keep its employees and the public updated on the pandemic.
Anodot is delivering the perks of tangible business monitoring to leading organizations, including Atlassian, Xandr, T-Mobile, Bird, and others.