VictorOps completes $15M Series B funding round

Tuesday December 20, 2016 Tags: Boulder, VictorOps, Todd Vernon , Shea Ventures, Foundry Group, Costanoa Venture Capital, Brad Norris

BOULDER -- VictorOps, the real-time incident management company, announced the second close of its Series B investment round, now totaling $15 million.

In November, the company announced the first close of the round of $12.2 million led by new investor Shea Ventures along with existing investors Foundry Group and Costanoa Ventures.

“We received a lot of interest in our Series B financing,” said Todd Vernon, VictorOps CEO and co-founder.

“It became clear that the round was going to be over-subscribed, and we wanted to take our time to choose the right investors to partner with firms that share our drive to improve the real-time incident management space and displace competitor solutions.”

As the incident management market matures, VictorOps said many organizations have become unsatisfied with traditional IT alerting tools and have sought a better, more comprehensive solution. As a result, VictorOps not only posted a record year in topline growth, but also saw its win rate over competitor, PagerDuty, soar.

“Progressive customers are looking for more than just paging services - they are looking to increase their software delivery velocity,” said Brad Norris, VictorOps VP of sales.

“As a more comprehensive solution, VictorOps not only helps teams resolve incidents faster, but enables companies to reuse information in order to continuously improve and minimize the impact of downtime.”

VictorOps said the Series B funding will help to support the company’s growth and the continued adoption of DevOps among enterprise level companies.