LogicMonitor announced that it will use the new investment to improve the features of its platform and make acquisitions.
Observability platform LogicMonitor has raised $800 million at a valuation of $2.4 billion. PSG and Golub Capital participated in the US-based company’s $800 million investment round. According to LogicMonitor, Vista Equity Partners, which acquired a majority stake in the company in 2018, will remain LogicMonitor’s controlling shareholder following the investment deal.
The company said it will use the new investment to improve the features of its platform and make acquisitions.
Founded in 2007 by Jie Song and Steve Francis, LogicMonitor is a software company that provides an observability platform used to detect and solve problems in technology infrastructures.
It detects failures in infrastructure components such as local hardware, cloud services, SaaS applications. Data about the events is visualized for easier analysis. Users can quickly identify problems by seeing visual maps of failures and system interactions. The company has 100 thousand users.
The initiative monitors the configurations of hardware assets and tracks configuration changes. Accordingly, it sends alerts about performance issues or security vulnerabilities. On the other hand, Edwin AI, an artificial intelligence assistant developed by the company, saves administrators’ time by filtering false and unnecessary alerts.
LogicMonitor offers a solution for monitoring Kubernetes environments. The open source platform Kubernetes organizes applications into groups called pods, with each pod running on a node. As these nodes change frequently, it becomes difficult to monitor how they interact with each other. LogicMonitor provides a centralized console to monitor these clusters.
