VictorOps announces first close of $12.2M Series B fundraising round
Wednesday November 30, 2016 0 comments
BOULDER -- VictorOps, the real-time incident management company, announced the first close of $12.2 million of its Series B investment round led by new investor Shea Ventures along with existing investors The Foundry Group and Costanoa Venture Capital.
VictorOps said the funding comes after accelerated customer growth with the number of new customers increasing by 64 percent and monthly revenue growth of 175 percent.
“Even five years ago, businesses were simply looking for basic alerting platforms that would notify IT workers of infrastructure problems,” said Todd Vernon, VictorOps CEO and co-founder.
“However, today progressive enterprises have realized that software development velocity is directly tied to the ability to push code into production faster and remediate problems in real-time. Maintaining uptime has now become a team sport, meaning that regardless of who’s in charge when problems arise (IT Operations, Developers or NOC managers) VictorOps offers a way to automate the entire alerting and remediation process.”
VictorOps said the Series B funding will help support the company’s growth and continued traction with enterprise level customers.
“VictorOps has shown an amazing track record of attracting customers from a wide variety of industries, and supporting them as they adopt tooling to support their Agile and DevOps practices, said Jason Shoettler, Shea Ventures managing director.
“We were impressed by the depth of market knowledge the team at VictorOps possessed and the win rates against more conventional industry competitors. This is a very fast-moving market and vision will be a key asset to the eventual winner in the space.
“VictorOps shows a solid track record of finding the innovators in companies such as Snap Inc. (Snapchat), Qualtrics, and NCR.”
VictorOps also announced its new Integration Hub and Integration Guarantee to support new and existing customers as they onboard and expand their usage of the product.
The Integration Guarantee Program ensures that any and all monitoring solutions not already included in the Integration Hub can be integrated with the VictorOps product for new and existing customers, the company said.
“In a field plagued by burn-out, we want to do everything we can to improve the lives of those on-call through efficient incident management,” said Joni Klippert, VictorOps VP of product.
“The Integration Hub and the Integration Guarantee Program will make it easier for our customers to leverage a wide variety of monitoring and alerting products - including those important to the entire software delivery lifecycle - providing unparalleled access to contextual information for each alert and further streamlining the on-call process regardless of role.
“All our customers have to do is ask for those integrations that will make their jobs easier, and we can make it happen.”
“We’re thrilled to be one of the first partners included in the VictorOps Integration Hub,” said Nate Heinrich, New Realic senior product manager.
“Our customers trust us to monitor application and infrastructure performance so they can quickly resolve issues and improve digital customer experiences.
“Through our integration with VictorOps, New Relic Alerts will detect issues and send them to the VictorOps platform, taking advantage of their flexible routing rules and helping ensure that the right person is not just quickly notified, but also supplied with critical context in order to resolve the issue at hand.”
“The integration between Rackspace’s Rackspace Monitoring and VictorOps has been a smooth, expedient process, and it has helped us provide a more complete solution to manage our customers’ infrastructure,” said Shane Duan, Rackspace Monitoring & Metrics product manager.
“With Rackspace Monitoring focused on collecting metrics and sending alerts, it makes perfect sense to leverage VictorOps’ capability to combine people and data for improved results across the board.”