Israeli AI-powered log analysis software platform developer Loom Systems announced today that it has raised $6 million in Series A funding led by Jerusalem Venture Partners (JVP) with Meron Capital and 31Ventures Global Innovation Fund.
The funding will help accelerate Loom Systems’ rapid adoption by expanding sales and marketing, growing international operations and developing the company's partnership ecosystem.
Targeted at DevOps and IT professionals, Loom Systems instantly analyzes logs and semi-structured machine data for immediate visibility into a company’s digital environment. Accelerating the ingestion, detection, analysis and resolution of data, to solve IT and OT problems in real-time, Loom significantly reduces the cost and complexity of working with operational analytics, as well as the lowers the need for highly skilled personnel for root-cause analysis and actionable mitigation recommendations.
Founded in 2015, with offices in Tel Aviv and San Francisco, Loom Systems has added six OEM and channel partners, and dozens of enterprises to its client base; including Citrix, Amdocs, Clal Insurance, RevTrack, and more.
Loom Systems founder and CEO Gabby Menachem said, “Utilizing artificial intelligence, we can find abnormal behavior with remarkable granularity within enormous amounts of data, down to the single event or transaction. The benefit of using Loom for data analysis and security is by applying artificial intelligence to remove both the preprocessing humans need to do before they can analyze data, as well as the analysis itself, root-cause investigation and remediation recommendations. These necessary steps typically entail a significant, costly project and is the main reason we see organizations not leveraging data they already have.”
JVP managing partner Gadi Tirosh said, “A monitoring platform needs to be as dynamic and flexible as the IT platform that it's monitoring. With the introduction of hybrid architectures that span from on-premises to cloud and homegrown to third-party apps - only a flexible AI approach like what Loom developed can cope with the task at hand and the huge market that needs these solutions. Using advanced AI and machine learning, Loom Systems is a company that has the opportunity to transform the way business monitoring and log analysis is executed.”
Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2017
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