# BigPanda

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bigpanda

- Industry: Software
- Headquarters: Mountain View, US
- Website: www.bigpanda.io
- Total disclosed funding: $221M
- Latest round: Series E (Dec 23, 2021)
- Investors on record: 10

## About

BigPanda, Inc. provides an advanced IT Operations platform focused on automating and improving IT incident management through AI-driven solutions, catering to diverse industries globally.Founded in 2012 and headquartered in Mountain View, CA, BigPanda, Inc. specializes in IT incident management solutions. The company was established by Assaf Resnick and Elik Eizenberg. It has secured a total of 8 deals, with its most recent funding round occurring on June 14, 2022. During this Series E round, BigPanda raised USD 22.6 mn from investors including UBS and Wells Fargo Strategic Capital, bringing the total amount raised to USD 22.6 mn and the current company valuation to USD 1,219.64 mn.BigPanda specializes in providing an advanced agentic IT Operations (ITOps) platform designed to automate and enhance IT incident management processes. The core offerings include AI Detection and Response, AI Incident Assistant, and the IT Knowledge Graph, all of which leverage artificial intelligence to streamline incident detection, resolution, and reporting. These products are tailored to help organizations predict and prevent IT incidents before they impact business operations. The platform serves a diverse clientele across various industries, including financial services, insurance, managed service providers, manufacturing, and retail, allowing teams to manage their IT environments more efficiently. BigPanda's solutions are utilized primarily in North America, Europe, and Asia-Pacific, catering to enterprises that demand high availability and reliability in their IT operations.BigPanda generates revenue through a subscription-based model, allowing organizations to access their suite of IT management tools. Clients typically enter into annual contracts for the agency ITOps platform, which includes tiered pricing plans based on the features and level of support required. The transactions are structured as Business-to-Business (B2B) agreements, focusing on direct partnerships with enterprises rather than retail sales. The flagship products, such as the AI Detection and Response and the AI Incident Assistant, are critical components of these subscriptions, enabling companies to enhance their operational resilience and efficiency. The financial arrangements are designed to provide scalable solutions, adapting to varying client needs while ensuring that organizations can leverage the full value of their IT data for improved decision-making and incident management.In June 2022, BigPanda, Inc. raised USD 22.6 mn in Series E funding, which will be used to continue innovating its AIOps capabilities, expand its R&D, product, and machine learning teams, and pursue strategic acquisitions. The company is focusing on launching new products in the coming year and exploring expansion into new geographic markets, including regions in Europe and Asia, to enhance its service offerings and reach.

## Funding rounds

- Series E, Dec 23, 2021, $120M — Advent International, Battery Ventures, Mayfield Fund, Hong Shan, Insight Partners, Pelion Venture Partners, Glynn Capital, Greenfield Partners
- Series C, Nov 21, 2019, $50M — Battery Ventures, Mayfield Fund, Hong Shan, Insight Partners
- Series B, Sep 28, 2017, $23M — Battery Ventures, Mayfield Fund, Hong Shan, TPG, Glynn Capital, Greenfield Partners, LLC
- Series B, Mar 23, 2016, $5M — Battery Ventures, Mayfield Fund, Hong Shan, Pelion Venture Partners
- Series B, Aug 10, 2015, $16M — Battery Ventures, Mayfield Fund, Hong Shan
- Series A, Oct 28, 2014, $7M — Mayfield Fund, Hong Shan

## Investors

- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series A, Series B, Series C, Series E
- Hong Shan — Series A, Series B, Series C, Series E
- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series B, Series C, Series E
- Pelion Venture Partners (https://capitalatlas.ai/funds/pelion-venture-partners) — Series B, Series E
- TPG (https://capitalatlas.ai/funds/tpg) — Series B
- Glynn Capital (https://capitalatlas.ai/funds/glynn-capital) — Series B, Series E
- Greenfield Partners, LLC — Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series C, Series E
- Advent International (https://capitalatlas.ai/funds/advent-international) — Series E
- Greenfield Partners (https://capitalatlas.ai/funds/greenfield-partners) — Series E