Tuesday, March 13, 2018

Moogsoft Gets $40M For AI-Driven IT Operations Software

San Francisco-based Moogsoft, a developer of artificial intelligence-driven IT operations management software, has raised $40M in a Series D funding, the company said this morning. The funding was led by Goldman Sachs Growth Equity, and also included HCL, Northgate Capital, Redpoint Ventures, Singtel Innov8, STTelemedia and Wing VC. Moogsoft says it now has raised a total of $90M. Moogsoft, which is led by CEO Phil Tee, develops software which uses artificial intelligence to help correlate events across different applications, networks, and infrastructure and help IT administrators remediate the issues that caused those events. The company said the new funds go towards sales and marketing, plus R&D investment.