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March 15, 2022

AIOps Platform Provider Selector Raises $28M Series A

Selector, an AIOps, analytics and observability platform provider, has announced it raised $28 million in a Series A funding round, bringing its total funding to $33 million. Selector will use these new funds for its market strategy and expansion in North America and investment in R&D.

AIOps technology uses artificial intelligence to automate IT operations. According to a report by Allied Market Research, the AIOps market was valued at $26.33 billion in 2020 and will grow to $644.96 billion by 2030. Datanami has previously reported on the white-hot AIOps and observability market driven by IT professionals buried in metric, event, log, and trace (MELT) data from increasingly complex applications and pipelines. To alleviate the strain of keeping up with growing MELT data, observability tools assist in monitoring the data for system and network insights, while machine learning-powered AIOps and analytics tools can aid with the management and optimization of networks and systems.

The company’s press release says the Selector Analytics platform “normalizes, clusters and correlates metrics, logs, configuration, events and alerts from multi-cloud network, application and security data sources” and “delivers actionable insights through an intuitive user experience that enables operations to proactively diagnose and remediate issues.” Selector’s platform offers the ability to consolidate these multiple streams of data into a single snapshot of network health, and it uses natural language processing with collaboration tools like Slack and Microsoft Teams to improve mean time to detect and repair. The company states, “While legacy collaboration tools only receive alerts, Selector Analytics can execute natural language queries, receive anomaly-specific insights, and share those insights with team members.”

On its product page, Selector says its platform is “wholly dockerized and containerized” and “can be installed in a public cloud, on-premise or private cloud environment,” which offers flexibility the company believes will benefit organizations with sensitive operational data. The platform also boasts scalability, as it can be scaled for use in less than 50 devices up to thousands of devices, which could prove useful to growing enterprises.

Source: Selector

“At Selector, we have assembled a world-class team looking to transform the AIOps space. By merging networking, AIOps, and observability into a single platform, Selector is approaching the space uniquely. Our mission is to eliminate downtime and empower operations with tools to be more efficient and productive in their jobs,” said Kannan Kothandaraman, Selector co-founder and CEO. “Our customers are having amazing success with the platform and are expanding to new problems they once thought unsolvable.”

Selector believes that “multicloud services are critical to the next phase of internet growth and the economy as a whole.” The company notes that IT ops teams have historically had to use multiple static dashboards for actionable insights, but the Selector Analytics platform’s consolidated snapshot allows teams to “instantly detect anomalies in an environment of increasing complexity and criticality.”

“Existing monitoring solutions are single-domain, manual, and complex, making rapid event correlation and analysis tedious, frustrating, and often impossible,” said Nitin Kumar, Selector co-founder and CTO. “Selector abstracts all of that complexity and enables automated remediation using elastic data ingestion, declarative transformations, and data-centric machine learning.”

Selector was founded by former Juniper Networks executives Kothandaraman and Kumar in 2019. Today’s Series A round was led by Two Bear Capital, SineWave Ventures, and Atlantic Bridge, and was joined by Comcast Ventures and Azure Capital Partners. The company says its platform is already in use by multiple Fortune 500 companies, including NBC and Bell Canada.

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